PROCEDURES
 

PROCEDURES Procedures
Procedures:

It is important to note, that while some procedures may vary from one seller to another, protocol is pretty much standard throughout the industry.
  1. Buyer issues LOI on buyer's  company letterhead with complete company information including contact person.
  2. Authorized Seller's mandate/facilitator will review and issue SCO should the information be provided correctly.
  3. Buyer will issue ICPO with accepting payment terms, pricing etc acceptable by seller, banking information, soft probe & BCL to the seller - Will not be accepted otherwise without BCL!
  4. If all documents are in order and acceptable by the seller, seller will issue either the FCO or Draft Contract open for amendments. Buyer will sign, seal and return.
  5. Seller will review and if accepted will forward signed, sealed Final Contract to the buyer.
  6. Buyer issues confirmation text of draft payment instrument for seller's bank approval within three banking days from final contract.
  7. Seller approves payment text within three banking days thereafter.
  8. Buyer's bank issues Non-Operative, Irrevocable and Confirmed payment instrument within five banking days thereafter.
  9. Upon confirmation of funds within (varies) x banking days, seller issues an operative performance bond to buyer for 2%.
  10. Delivery and shipment commence as per agreed schedule.

*NOTE: We are no longer accepting ICPO's unless they accompany seller procedures, terms & BCL.


Before Accepting Anything, DO your HOMEWORK!

FYI - Our Company Receives Over 100 ICPO's Monthly - Need I Tell You How Many We IMMEDIATELY Reject?

Know Who It Is You're Working With!

Sellers: Research the Company/Agents and Ask Questions

  • If the Seller is a referral, make sure the person you are dealing with has worked with the seller, or knows first hand their ability.
  • If the Agent is not known to you or your network - Be Extra Cautious. 
  • Your Buyers may only provide you with 1 opportunity - Don't Fail Them With Non Performers / Fraudsters, or You Will Lose Them For Life!

Buyers: Research the Company/Agents and Ask Questions.

  • NEVER ACCEPT AN ICPO without Company Details. 
  • ICPO's without Company information is a Clear sign that it is NOT a Buyer, but an agent/buyer fishing for info - Remember this is ILLEGAL!

Read WARNING NOTICE!

Before you accept Any ICPO, do a quick search on the company to see that they are who they

claim to be - Every Buyer/Agent will tell you that they are capable. OK?......

NEVER - NEVER SEND ANYONE $MONEY$ TO CLOSE A DEAL FOR YOU! (Enough said on that one)