E.S.A Group

PROCEDURES:
1. BUYER ISSUE ICPO - SELLER ACCEPTS ICPO AND FOLLOWED BY FCO.
2. BUYER SIGNS FCO AND THE SELLER ISSUES SALE AND PURCHASE CONTRACT WITHIN THREE (3)
BUSINESS DAYS.
3. BUYER SIGNS, SEALS AND RETURNS THE CONTRACT WITH CHANGES/MODIFICATIONS IF
NECESSARY; SELLER REVIEWS THE CONTRACT, SIGNS AND SEALS IT AND RETURN TO BUYER.
4. SELLER AND BUYER EXCHANGE SIGNED CONTRACT BY ELECTRONIC TRANSMISSIONS IN PDF AS
HARD COPIES.
5. BUYER OPENS THE BANK INSTRUMENT IN FORM OF SBLC (MT760) WITH FOLLOWING
CONDITIONS “IRREVOCABLE; TRANSFERABLE; DIVISIBLE, AUTO REVOLVING, UNCONDITIONAL
AGAINST SHIPPING DOCUMENTS, AT LOAD PORT”, THE LETTER OF CREDIT MUST BE ISSUED, OR
CONFIRMED, FROM TOP 50 INTERNATIONAL PRIME BANK OR CORRESPONDENT.
6. ONCE FUNDS HAS BEEN CONFIRMED BY SELLER BANK; SELLER INITIATE TO EXECUTE CONTRACT.
7. SELLER’S BANK ISSUES THE POP (PROOF OF PRODUCT) + 2% PERFORMANCE BOND.