Description

1. Buyer and seller execute, sign and seal the agreement and exchange copies via facsimile or electronic mail.  The electronically transmitted copy signed and sealed by both parties shall be considered legally binding and enforceable.  Hard-copy instruments are not necessary, but can be at the buyer or seller’s request.

1. Buyer issues a swift (DOCUMENTARY LETTER OF CREDIT) MT **0 POF covering the total quantity for the product per shipment in this agreement and send to seller swift answer back copy for confirmation.

1. Seller confirms instrument.

1. Seller NORMINATES VESSEL AND LOADS CARGO. 

1. Upon successful conclusion of the above, seller transfers all original shipping/cargo documents to the buyer and hand-over same to the buyer/buyer’s bank as the case may be.

1. Payment to be effected on discharge after Q&Q at the discharge port.

1. Payments are now released by MT**3 (swift transfer) into nominated bank accounts of the seller and all agents/facilitators respectively.