Copper Cathode99.97-99.99%
CIF Procedure
1. Initial Contact and Letter of Intent:
The buyer initiates the process by issuing a Letter of Intent (LOI) along with a Client Information Sheet.
2. Framework Contract of Offer (FCO):
The seller responds by issuing an FCO, which outlines the terms and conditions of the potential deal, including the chosen bank instrument for payment (e.g., Irrevocable, non-transferable, active and operational LC MT700 or SBLC).
3. Buyer's Acceptance and ICPO:
The buyer reviews and signs the FCO, and returns it along with an International Commercial Purchase Order (ICPO).
4. Legally Binding Contract (SPA):
The seller then issues a legally binding contract, also known as a Sale Purchase Agreement (SPA), which includes all the agreed-upon terms and conditions.
This SPA outlines the seller's obligations, including providing the goods according to the agreed-upon shipping schedule.
5. Inspection and Logistics:
The buyer may choose to visit the seller's location (e.g., Lusaka, Zambia) to meet the seller, inspect the copper cathodes, and sign the SPA.
The seller provides a breakdown of the foreseen total costs for logistics, documents, and shipment to the buyer's destination.
Alternatively, the buyer can provide the seller with the consignee address, and the goods can be shipped directly to the consignee after payment for documentation, charges, and transportation.