

WHEAT
Types of Wheat
PROCEDURES


1. The Buyer sends the ICPO; 2. The seller responds within 3 days with the FCO, and the buyer returns it signed; 3. The Seller sends the Draft SPA (Purchase and Sale Agreement) within 3 (five) business days. 4. The buyer reviews and makes any necessary corrections to the draft SPA and then signs and stamps it and returns it to the seller. The Seller analyzes and sends the finished SPA. 5. After signing the SPA, the buyer issues the financial instrument, confirmed by a global Top Bank 25/50. The seller deposits PB (Performance Bond) of 2% in an escrow account, as agreed in the SPA. This item is not applicable for SPOT offers. 6. All parties involved (commissioners) sign the already formalized NCNDA ICC, so that the seller, in agreement, can also sign; 7. Shipment begins as agreed in the SPA generally within (30-45 days) depending on Port and quantity, and after confirmation of the Operating Instrument by the Seller's Bank. 8. At the time of determining the charter party, the Seller will provide delivery details to the Buyer. Seller will also provide vessel arrival and all other pertinent matters, if applicable. The buyer is invited to be present when the vessel is loaded, at the port of origin. 9. All subsequent shipments will follow the same procedure, if applicable. 10. Seller will provide scanned copies of all shipping documentation to buyer. All parties must deliver the documents to their respective banks. The seller will receive payment from the bank via MT103 according to the bank's schedule. PAYMENT METHODS: SBLC: MT799 / MT760 - Irrevocable, Transferable, Divisible, Confirmed by a Top 50 bank, and valid for 365 days. DLC: MT700 – Irrevocable, Transferable, Divisible, Confirmed by a Top 50 bank, and valid for 365 days. TT: MT103 - Payment Against Shipping Documents (BL). DOCUMENTS TO BE SENT TO THE BUYER: A. Bill of Lading, three (3/3) copies; B. Commercial Invoice, three (3/3) copies; C. Certificate of Origin, three (3/3) copies; D. Quality and Quantity Certificate Issued by SGS, three (3/3) copies; E. Phytosanitary Certificate, three (3/3) copies; F. Original insurance, three (3/3) copies; INSPECTION: SGS or similar Certificate of Quality, Quantity and Weight at the Port of Loading at the expense of the seller.


