• BUYER SENDS ICPO
• SELLER SENDS A FCO TO THE BUYER
• BUYER SIGNS AN RETURNS THE FCO
• SELLER SENDS THE DRAFT SALES AND PURCHASE AGREEMENT (SPA) TO BUYER–
THIS DOCUMENT
• WIHTIN 48 HOURS: BUYER SIGNS BACK THE SPA, INPUTS AUTHORIZED SIGNER’S PASSPORT, PROOF THAT THE SIGNER IS AUTHORIZED TO SIGN THIS CONTRACT, THE INCORPORATION CERTIFICATE OF COMPANY AND SENDS ITS OWN COMPANY CIS/KYC AND THE CIS/KYC OF THE ISSUER OF THE FINANCIAL INSTRUMENT IF BUYER IS USING A FINANCIER TO ISSUE THE PAYMENT GUARANTEE AND BUYER SENDS BACK
• SELLER SIGNS THE SPA AND SENDS BACK ACCOMPANIED WITH THE PROFORMA INVOICE
• BUYER RETURNS THE PROFORMA INVOICE SIGNED
• AFTER HAVING BEEN SIGNED AND STAMPED MANUALLY BY THE SELLER AND BUYER, SELLER WILL SEND VIA THE “DOCUSIGN” SERVICE FOR THE MANAGEMENT OF ELECTRONIC SIGNATURES AND DIGITAL TRANSACTIONS (https://www.docusign.com/ ) AND DEEMED AS HAVING ORIGINAL VALUE WITH ALL THE ASSOCIATED LEGAL AND LEGAL SCOPE. IT WILL THEREFORE BE A SUBSTITUTE FOR THE ORIGINAL PAPER
• WITHIN 7 BUSINESS DAYS, BUYER ISSUES THE FINANCIAL INSTRUMENT DRAFT – REAL DRAFT FROM THE BANK WITH ALL RELATED INFORMATION FULLFILL INCLUDING THE CONFIRMING BANK DETAIL- TO SELLER BY OFFICIAL EMAIL
• SELLER VALIDATES DRAFT WITH FIDUCIARY LAW FIRM ACCOUNT IN NEW YORK AND INDICATES THE REVIEWS IF NEEDED OR ADVISES IF THE FINANCIAL INSTRUMENT CAN BE OPENED (NO FINANCIAL INSTRUMENT SHOULD BE SENT DIRECTLY TO THE BANK WITHOUT PRIOR VALIDATION OF THE DRAFT. OTHERWISE, IT WILL BE REFUSED AND THIS WILL CONSTITUTE A BREACH OF BUSINESS)
• WITHIN 35/45 DAYS AFTER THE FINANCIAL INSTRUMENT IS OPEN, DELIVERY STARTS
• WTHIN 3 BUSINESS DAYS AFTER THE SHIPPING DOCUMENT IS RECEIVED BY BUYER’S BANK, THE PAYMENT IS RELEASE BY MT103/TT AT LOADING PORT
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