GCMG Export Documents

 

Required Documents For Commodities

Template # GC425-06

"CORPORATE LETTERHEAD of BUYER'S COMPANY"

LETTER OF INTENT

Date: __________

We, _______________________________ (please print) acting as Buyer, confirm with full legal and corporate responsibility under penalty of perjury, that we are ready, willing and able to buy under the following terms and conditions:

PRODUCT :

ORIGIN :

SPECIFICATION:

PACKING :

INSPECTION :

QUANTITY : ________ MT

CONTRACT : For ___ months

DELIVERY : __________ (port), ____________(country).

Delivery will be:

DELIVERY SCHEDULE: By vessel of ___

MODE : ___ CNF / ___ CIF ___ FOB (please check)

PRICE : US$ ____.__ / MT: (_________________________)

UNITED STATES DOLLARS PER METRIC TON

PAYMENT :
Contract payments shall be guaranteed by an Irrevocable, Transferable, Assignable, Stand-by Letter of Credit "SBLC", authorizing debit authority at Seller's bank counters; SBLC to be issued and confirmed by a Major International Bank in favor of the Seller for 100% of the Monthly Cargo Value payable at the port of loading following receipt of all documentary requirements. Validity of 13 months and one day. (FYI, SBLC verbiage is available below).

The stand-by letter of credit to be issued in favor of Genesis Capital, LLC. by Buyer or Buyer’s Nominee from a first class bank acceptable by the Seller's Bank for the first 1 month invoice value, plus 10%.

Payment to be "CAD" Cash against Documents payable 100% at sight against presentation of shipping documents within 72 hours of receipt of shipping documents. Buyer's Bank to authorize to Seller's Bank debit authority on SBLC at Seller's bank counters for the entire SBLC value of US$ ________. In the event of a non-payment on CAD, drawdown to be allowed against written instructions by Genesis Capital, LLC.

1. SB Letter of Credit shall be for 1 month invoice value and should incorporate10% tolerance for quantity and 10% tolerance for value.

2. SB Letter of Credit to allow for assignment of proceeds.

3. SB Letter of Credit is to allow for partial shipments.

DOCUMENTS PRESENTED TO BUYER:

(a) Two of three (2/3) original clean on board bills of lading with freight payable as per relevant charter party.

(b) Two (2) copies of the signed commercial invoice giving the appropriate break down of quantity loaded and price with any applicable deductions for penalties, third party acceptable.

(c) Certificate of Analyses drawn up and issued by a recognized third inspection party (SGS, etc.).

(d) Certificate of Weight drawn up and issued by a recognized third inspection party (SGS, etc.).

(e) Certificate of Origin issued by a local Chamber of Commerce or other appropriate authority certifying country of origin of the goods.

( f ) Sellers confirmation certificate that one set of the above documents has been dispatched to the Buyer within 7 banking days of vessels sailing from the loading port.

(g) Health certificate, when required.

(g) All documents submitted to bank are in English.

PROCEDURE:
Seller and Buyer come to an understanding of term of the contract, specifications, delivery schedules and price. Seller to prepares the Full Sale/Purchase Agreement (“Contract”) to be sent to Buyer for review and acceptance of signature.

1. The Buyer reviews and completes Contract, signs, seals and returns to the Seller via e-mail.

2. The Seller Signs, Seals and Returns the Contract to the Buyer. (E-mail copies are acceptable)

3. Both parties may execute Four (4) Original contracts via courier with each party retaining Two (2) Originals.

4. Sellers provides copy of acceptable SBLC verbiage to Buyer, Copy attached below..

5.. Within four ( 4 ) business days of signing contract, the Buyer’s Bank issues Stand-by Letter of Credit (SBLC) issued and Confirmed by a major International Bank in favor of the Seller for 100% +10% of the Monthly Cargo Value. The SBLC should be issued in Favor of the Seller, Genesis Capital LLC, by Buyer, or Buyer’s Nominee, from a first class bank acceptable by Seller's Bank for a full monthly value.

7. Payment to be "CAD" Cash against Documents payable 100% at sight against presentation of shipping documents. Note: Sellers bank has debit authority on SBLC at Seller's bank counters for the entire contract value of US$ ________ in the event of non-payment of CAD.

8. The Final Contract would then be activated thereby allowing the initiation of the delivery and payment as per the Final Contract Schedule. The seller shall have the first shipment ready to load in port within (30 to 45) days after the receipt of the acceptable Stand-by Letter of Credit. Monthly shipment schedule will be presented.

9. Genesis trade Guidelines follow UCC Policy and Business Practices UPC 600 or later versions.

(Please print the following)

COMPANY : _______________________________________
Address : _________________________________________
Telephone : _______________________________________
Fax : _____________________________________________
E-mail : ___________________________________________
Person : __________________________________________
Title : ____________________________________________
Passport : ________________________________________
Signature : ________________________________________


Buyer's Signature and Seal.

BUYER'S NOTE (IF ANY) : _____________________________

Line

Annex A
Approved SBLC Verbiage

**STANDBY LETTER OF CREDIT TO BE ISSUED VIA KEY TESTED TELEX/SWIFT MT-760 TRANSMISSION ONLY**

ISSUING BANK                                                  :
STANDBY LETTER OF CREDIT NUMBER :
CUSIP NUMBE                                                  :
ACCESS CODE                                                   :
ISIN NUMBER                                                   :
DATE OF ISSUE                                                 :
DATE OF MATURITY                                       :

WE, ___(NAME OF THE ISSUING BANK)___, WHOSE REGISTERED OFFICE IS LOCATED AT ___(FULL ADDRESS)___, AT THE REQUEST OF ___(THE “APPLICANT")___, HEREBY ESTABLISH OUR IRREVOCABLE, TRANSFERABLE, STANDBY LETTER OF CREDIT NO. [____________] (THE “STANDBY LETTER OF CREDIT”) IN FAVOR OF THE ___(THE “BENEFICIARY")___,  FOR AN AMOUNT NOT TO EXCEED USD$ _____.-/ (___(IN WORDS)_____UNITED STATES DOLLARS 00/100) (THE “AGGREGATE TOTAL AMOUNT”) IN RELATION TO THE CREDIT FACILITIES EXTENDED BY  THE BENEFICIARY ON BEHALF AND ACCOUNT OF ___(FULL NAME AND ADDRESS)___ (THE “OBLIGOR”). ANY PAYMENT BY US UNDER THIS STANDBY LETTER OF CREDIT SHALL BE MADE WITHIN 5 WORKING DAYS FOLLOWING RECEIPT OF YOUR WRITTEN DEMAND FOR PAYMENT OF AN AMOUNT NOT EXCEEDING THE AGGREGATE TOTAL AMOUNT. YOUR WRITTEN DEMAND QUOTING THIS STANDBY LETTER OF CREDIT NUMBER MUST CERTIFY THAT: - “THIS DRAWING UNDER THE STANDBY LETTER OF CREDIT IN THE AMOUNT OF USD$ _____.-/ (___(IN WORDS)_____UNITED STATES DOLLARS 00/100) (THE “DRAWING AMOUNT”) IS MADE IN RESPECT OF AMOUNTS DUE UNDER THE ABOVE MENTIONED FACILITY AND PAYABLE TO THE BENEFICIARY. THE BENEFICIARY HAS FORMALLY DEMANDED PAYMENT OF SUCH AMOUNT DUE FROM THE OBLIGOR AND THE OBLIGOR HAS FAILED TO COMPLY WITH SUCH DEMAND. IN SETTLEMENT OF THIS CLAIM PLEASE CREDIT OUR ACCOUNT NUMBER _____ HELD WITH _____ QUOTING OUR REFERENCE UNDER SWIFT ADVISE TO US. ANY DEMAND HEREUNDER MUST BE RECEIVED TO OUR OFFICES, LOCATED AT ADDRESS, BY AUTHENTICATION SWIFT WITHIN THE EXPIRY DATE OF THIS STANDBY LETTER OF CREDIT AND MARKED FOR THE ATTENTION OF _____________ QUOTING THIS STANDBY LETTER OF CREDIT NUMBER.  PARTIAL DEMANDS ARE ALSO ALLOWED PROVIDED ALWAYS THAT THE AGGREGATE AMOUNT OF THE DRAWINGS UNDER THIS STANDBY LETTER OF CREDIT SHALL NOT EXCEED AMOUNT USD$ _____.-/ (___(IN WORDS)_____UNITED STATES DOLLARS 00/100). THIS STANDBY LETTER OF CREDIT SETS FORTH THE TERMS AND CONDITIONS OF OUR UNDERTAKING AND SUCH UNDERTAKING SHALL NOT IN ANY WAY BE MODIFIED, AMENDED OR AMPLIFIED BY REFERENCE TO ANY DOCUMENT, INSTRUMENT, CONTRACT OR AGREEMENT REFERRED TO HEREIN OR TO WHICH THIS STANDBY LETTER OF CREDIT RELATES AND ANY SUCH REFERENCE TO ANY DOCUMENT, INSTRUMENT, CONTRACT OR AGREEMENT SHALL NOT BE DEEMED TO BE INCORPORATED HEREIN BY REFERENCE. THIS STAND-BY LETTER OF CREDIT CONFIRMS THAT THE ADVISING BANK IS THE CONFIRMING BANK IF REQUIRED BY THE BENEFICIARY. THIS STANDBY LETTER OF CREDIT IS SUBJECT TO UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS, 2007 REVISION, INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 600 (THE “UCP”) AND/OR ITS SUBSEQUENT REVISIONS/VERSIONS. THIS STANDBY LETTER OF CREDIT IS PERSONAL TO YOURSELVES AND CAN BE TRANSFERRED. THIS STANDBY LETTER OF CREDIT SHALL EXPIRE AT CLOSING OF BUSINESS, ON __________ (THE “EXPIRY DATE”). ANY DEMAND MADE UNDER AND IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS STANDBY LETTER OF CREDIT WILL BE DULY HONORED IF RECEIVED AT OUR ABOVE-MENTIONED OFFICE ON OR PRIOR TO THE EXPIRY DATE OF THIS STANDBY LETTER OF CREDIT.

THIS SWIFT IS THE ORIGINAL INSTRUMENT AND NO MAIL CONFIRMATION WILL FOLLOW.

OFFICER 01      AUTHORIZED OFFICER (NAME, TITLE, PIN CODE)     
OFFICER 02      AUTHORIZED OFFICER (NAME, TITLE, PIN CODE)



Bank Confirmation Letter
BANK'S OFFICIAL LETTER-HEAD

    Date  :
    To  :
    Attn. :
    Ref. :
    Buyer's Code :
    Dear Sir,


    We are informed that our client Mr.__________________________________________
    President of ___________________________ ,would like to purchase  ________ MT of ______________________________________at US$ _________._____________ / MT (____________________________________ UNITED STATES DOLLARS PER METRIC TON) _______ C&F / ___ CIF __________________ (Port), ____________ (Country), for a total of US$_______________________._________ (UNITED STATES DOLLARS) with deliveries of __________________ MT.

    We understand that payment is to be by : IRREVOCABLE, STAND-BY, TRANSFERABLE, LETTER OF CREDIT, CONFIRMED OR ISSUED BY A MAJOR INTERNATIONAL BANK, REVOLVING AS NECESSARY, PAYABLE 100% AGAINST PRESENTED DOCUMENTS, FOR THE ENTIRE CONTRACT VALUE OF US$ ___________________. THIS SBLC IF REQUIRED TO BE CONFIRMED WILL PROVIDE DEBIT AUTHORITY TO SELLER'S BANK IN THE USA.

    This letter does not assume any financial liability or any contractual relationship with the parties, it is solely to inform you that the Buyer has the financial capacity to cover US $ ___________________ and to issue such payment instrument, should they contract for the purchase of the ________ MT.

    The buyer transaction code #  _____________________ has been assigned to this purchase to be attached to the Seller's Contract.

    Account name : _____________________________________
    Account number : ___________________________________
    ABA: _____________________________________________
    Bank name : _______________________________________
    Bank address : _____________________________________
      Tel : _____________________________________________
      Fax : ____________________________________________
      Bank I. D. # : _____________________________________
      Swift : ___________________________________________
      Routing : _________________________________________

    Very truly yours.

    1st. Bank Officer's Name

    Signature : ________________________ Printed : __________________________

    2nd. Bank Officer's Name

    Signature : _________________________Printed : __________________________

     

    Bank's Seal :

Genesis Capital, LLC.


USA
Tel: 479-361-1211

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