Dear Buyer
Hereby, we, DANARG TRADING COMPANY, with full corporate responsibility, represent and state that, we, under the penalty of perjury, are ready, willing, and able to enter into a supply agreement through our supply partners and sellers with your company upon successful conclusion of negotiations.
We hereby state our intention to supply the commodity under contract with rolls and extension as follows:
Commodity: WHITE REFINED CANE SUGAR ICUMSA 45
Origin: Brazil
Shipment terms: CIF Port
Shipment: 100,000 MT
Quality: Standard
Contract Period: 12 (Twelve) months with R&E
Price: $430,00. USD / MT (Total amount 43,000,000 USD)
Commission: $5 USD seller Side / $5 USD Buyer Side
Delivery Time: 35 days after MT760 SBLC and payment is received by MT103.
Payment Terms: RDLC MT700 / SBLC MT760 and MT103 at destination port
Issuing Banks (s): World Top 50 First Class Banks.
Specifications: Specifications as specified below.
Inspection: SGS / Saybolt / Intertek, or equivalent, will conduct the Q&Q inspection.
Packing: 50 KG. pp. bags
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CIF Transaction Procedure
1. The Buyer sends an ICPO to the Seller together with the company license, Buyer’s passport copy, and banking information.
2. The Seller signs the ICPO and sends it back to the Buyer together with the Full Corporate Offer (FCO) and Seller’s CIS. The Buyer signs the FCO and returns it, along with Proof of Funds (POF), which is sent directly from the Buyer’s bank to the Seller’s bank for verification.
3. The Seller prepares a draft Sales and Purchase Agreement (SPA) with delivery details, price, and terms, and sends it to the Buyer for review.
4. The Buyer signs and stamps the SPA and returns it to the Seller. The Seller then signs the SPA and sends Partial Proof of Product (PPOP) to the Buyer for checking and verification.
5. The Seller issues the Commercial Invoice (CI) based on the SPA. Both Buyer and Seller sign and stamp the invoice. At the same time, the Buyer, Seller, and intermediaries sign the NCNDA and IMFPA.
6. The Buyer’s bank sends a pre-advice message (MT705 for RDLC or MT799 for SBLC) to the Seller’s bank to confirm the wording and details only. This step does not create any financial obligation.
7. The Buyer’s bank sends the official bank instrument, either MT700 (RDLC) or MT760 (SBLC), to the Seller’s bank.
8. After the Seller’s bank receives and confirms the official bank instrument, it issues a 2% Performance Bank Guarantee (PBG) in favor of the Buyer’s bank, as stated in the SPA.
9. The Seller arranges production, loading, and shipment of the goods under CIF terms to the agreed destination port. After loading, the Seller provides Proof of Shipment.
10. The Seller sends copies of all shipping documents to the Buyer’s bank. These include the Bill of Lading, Commercial Invoice, Packing List, Certificate of Origin, inspection report (such as SGS), and insurance certificate.
11. When the vessel arrives at the destination port and the documents are confirmed as correct, the Buyer makes payment by bank transfer (MT103). At the same time, intermediary commissions are paid according to the IMFPA.
12. After full payment is received, ownership of the goods is transferred to the Buyer.
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