| The general procedure for the purchase of any commodity are the following: |
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| Step one |
| The buyer sends the following documents: |
- A signed and dated Letter of Intent (LOI), valid for ten days, to the attention of SBA Enterprises (PVT) Limited.
- A Bank Capability Letter (BCL)
- A signed, dated and sealed Non Circumvention Non Disclosure document valid for five years.
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| OR |
- A signed and dated Letter of Intent (LOI) with soft probe, valid for ten days, SBA Enterprises (PVT) Limited.
- Signed, dated and sealed Non Circumvention Non Disclosure document valid for five years.
|
| OR |
- A signed and dated Irrevocable Corporate Purchase Offer (ICPO), valid for ten days, to SBA Enterprises (PVT) Limited.
- A Bank Capability Letter (BCL)
- signed, dated and sealed Non Circumvention Non Disclosure document valid for five years.
|
| OR |
- A signed and dated Irrevocable Corporate Purchase Offer (ICPO) with soft probe, valid for ten days, to the attention of SBA Enterprises (PVT) Limited.
- A Bank Capability Letter (BCL)
- Signed, dated and sealed Non Circumvention Non Disclosure document valid for five years.
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| Step two |
| The seller issues a Full Corporate Offer (FCO) to the buyer. |
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| Step three |
| The buyer accepts the Full Corporate offer. |
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| Step four |
| The seller issues a draft contract to the buyer. |
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| Step five |
| The buyer returns the draft contract to the seller via fax or email. |
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| Step six |
| The seller reviews and confirms any changes made in the draft contract by the buyer. If the seller agrees to the changes made by the buyer, the seller issues the final binding contract via fax or email. |
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| Step seven |
| The buyer returns the final agreed contract duly signed and sealed via fax or email. |
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| Step eight |
| The seller scans the signed, sealed and initialled contract and emails or faxes the soft copies to the buyer. |
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| Step nine |
| The seller issues four original hard copies of the final contract via courier to the buyer’s address as stated in the contract. |
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| Step ten |
| The buyer signs and seals the four hard copies and returns two original copies by courier to the seller. |
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| Step eleven |
| Within seven working days of the buyer receiving the seller’s signed and sealed hard copies of the contract via courier, the buyer opens a non-operative payment instrument to the seller’s bank in exchange for Proof of Product (POP) bank to bank, which automatically activates the non-operative payment instrument into operative. |
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| Step twelve |
| Within five to ten working days upon receipt of an acceptable operative payment instrument, the seller provides the buyer with a 2% Performance Bond (PB). |
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| Step thirteen |
The shipping of the product will start within thirty to forty-five days from the date of the seller’s receipt of the acceptable operative payment instrument. |
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| Step fourteen |
| The buyer can make a physical inspection, together with the SGS at the time of loading of the product. |
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| To print the initial documents, please go to Initial documents. |