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1. BUYER (OR
BUYER'S AGENT) REQUESTS A QUOTE ON A PRODUCT
2. WITH THE
REQUEST IS A LETTER OF INTENT (LOI) TO BUY STATING EXACTLY WHAT YOU
WANTS WITH FULL SPECIFICATIONS FOR PRODUCT, QUANTITY, PACKING,
DESTINATION, SPECIAL INSTRUCTION, TARGET PRICES, ETC.
3. PECHSIAM AS
SELLER SENDS A PROFORMA OFFER TO SELL WHICH GIVES COMPLETE
INFORMATION ABOUT THE PRODUCT SUCH AS:
SPECIFICATIONS OF PRODUCT
COUNTRY OF ORIGIN
QUANTITY
PACKING
PRICE
TERMS OF DELIVERY
TERMS OF PAYMENT
PROCEDURES
4. BUYER SENDS
AN IRREVOCABLE CORPORATE PURCHASE ORDER (ICPO). THIS STATES
FULL DETAILS OF HIS ORDER AS IN THE PROFORMA INVOICE) AND MUST
CONTAIN YOUR FULL BANK CONTACT INFORMATION INCLUDING:
NAME OF BANK, ADDRESS, PHONE AND FAX
NAME OF ACCOUNT
NUMBER OF ACCOUNT
NAME OF AN OFFICER AT THAT BANK WHO CAN VERIFY HIS FUNDS
THE ICPO ALSO
CONTAINS A SENTENCE GIVING PERMISSION FOR A SOFT PROBE OF HIS
ACCOUNT, THE ICPO MUST BE ON CORPORATE LETTERHEAD AND USUALLY BEGINS
WITH THE PHRASE "...WITH FULL CORPORATE RESPONSIBILITY"...
5. SELLER
CONTACTS BANK FOR SOFT PROBE TO PROVE BUYER'S ABILITY TO PROVIDE FUNDS.
6. BUYER AND
SELLER SIGN SALES CONTRACT.
7. BUYER
SUPPLIES PRE ADVISE LETTER OF CREDIT(L/C) THIS IS LIKE A DRAFT AND IS
THE FIRST PAGE OF THE LETTER OF CREDIT. IT IS AN OUTLINE OF
EVERYTHING IN THE PROFORMA AND L/C. IT ALLOWS THE SELLER TO REVIEW
THE L/C TO BE CERTAIN THAT EVERYTHING IS INCLUDED CORRECTLY.
8. INSPECTION
OF THE PRODUCT IS MADE BY BUYER OR AGENT IF DESIRED.
9. OPENING OF
THE LETTER OF CREDIT.
10. PRODUCT IS SHIPPED.
11. PAYMENT OF
L/C IS MADE WHEN DOCUMENTS ARE PRESENTED AT BUYER's BANK
SAMPLE OF ICPO
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IRREVOCABLE CORPORATE PURCHASE OFFER (ICPO)
“TO BE
COMPLETED ON BUYER’S LETTERHEAD SIGNED AND SEALED” WE/I THE
UNERSIGNED___(BUYER’S NAME)___ WITH FULL LEGAL AND CORPORATE
RESPONSIBILITY CONFIRM WE/I ARE/AM READY, WILLING AND ABLE TO
PURCHASE THE FOLLOWING COMMODITY ON THE TERMS AND CONDITIONS
HEREUNDER SUBJECT TO SIGNING THE CONTRACTS BY BOTH PARTIES.
PRODUCT
COMMODITY:
ORIGIN:
SPECIFICATIONS:
QUANTITY:
PACKING:
SHIPPING TERMS:
DESTINATION PORT:
PRICE: (USD)
SHIPMENT SIZES:
INSPECTIONS:
PAYMENT TERMS:
GUARENTEE:
DOCUMENTS:
CONTRACT PERIOD:
BANK INFORMATION:
NAME OF BANK
ADDRESS OF BANK
CITY/ZIP CODE/STATE
BANK
OFFICER’S NAME
BANK
OFFICER’S TELEPHONE & EXT.
ACCOUNT NUMBER
ACCOUNT NAME
ABA NUMBER
SWIFT NUMBER
BANK TELEPHONE NUMBER
BANK FAX NUMBER
BANK TELEX
AUTHORIZED
SIGNATURES & SEAL OF BUYER OR BUYER’S MANDATORY
(OPTIONAL IF APPLICABLE)
BUYER’S
LEGAL REPRESENTATIVE
SIGNATURE
BUYER’S
REPRESENTATIVE NAME
COMPANY NAME
COMPANY ADDRESS
COMPANY
TELEPHONE NUMBER
COMPANY FAX NUMBER
WE/I HEREBY
SUBMIT THIS IRREVOCABLE CORPORATE PURCHASE ORDER
(ICPO)
SUPPORTED BY OUR BANK ENDORSEMENT LETTER (BCL)
SIGNATIURE AND SEAL |
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