Procedures

How we work

1. BUYER issues LOI (Letter Of Intent) addressed to Golden Export (Full information Buyer Issuing Bank TOP 50 or Confirming Bank TOP 50).
2. The GOLDEN EXPORT sends a SCO (Soft Corporate Offer) to the BUYER.
3. Buyer issues ICPO (Irrevocable Corporate Purchase Order) with bank details and BCL or RWA (POF-Proof of Funds)
4. The GOLDEN EXPORT will send the Draft Agreement for acceptance by the BUYER. The Contract goes through a normal negotiation and validation period.
5. The BUYER must return a copy of the Confirmed SBLC Draft to the Contract Draft, as it will be considered legal. Bank issuance of the SBLC Confirmed BUYER by SWIFT MT 700 opens for 2 (two) months of validity to be received at the Bank of the GOLDEN EXPORT within 3 (three) business days or deposit of custody to be made.
6. GOLDEN EXPORT's bank sends within 10 working days questions to the BUYER's bank.
7. Shipping starts as scheduled. The necessary documents will be forwarded to the BUYER.
8. Delivery and shipping start immediately according to the term of the contract. All bank charges, including confirmation from the BUYER's bank, will be done by the BUYER and all bank charges incurred by the GOLDEN EXPORT at GOLDEN EXPORT`s bank will be at home by GOLDEN EXPORT.
9. GOLDEN EXPORT sends a copy of the first B / L, SGS and vessel details to the BUYER for verification.
10. Upon receipt of the shipping documents, the BUYER's bank must pay the full amount of the invoice for the shipment to the GOLDEN EXPORT's bank with the presentation of the SGS or inspection certificate of similar authority and the BL (Bill of Lading) by the GOLDEN EXPORT.
11. Shipments continue in accordance with the agreement between the BUYER and the GOLDEN EXPORT of financial instruments in accordance with the codes and any revisions as established by the International Chamber of Commerce (ICC) UCP 600.

For other forms of procedures, please contact us.

Payments

Preferential payment instruments: Standby Letter of Credit – SBLC

SBLC 100% Irrevocable, Operative, Transferable and Divisible at sight against in shipping documents, SBLC - Standby Letter of Credit, Confirmed and Guaranteed by a World Bank Top 50.
The payment of each remittance will be made by an Irrevocable, Operative, Transferable and Divisible Letter of credit on hold confirmed and guaranteed by one of the top 50 banks payable in cash at the seller's bank upon presentation of shipping documents or by MT 103 without lock.
Payment by third parties can only be made with the prior and express acceptance of the seller.

Procedures

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