BUYING PROCEDURES

 These procedures are not negotiable except for government Companies!

1. Buyer submits LOI/ICPO or BCL (It’s not older than 4 days) with a signature and Non-Circumvention, Non-disclosure and Agreement (NCNDA) (must use NCNDA together with LOI)

2. Buyer financial capability will be verified prior to draft contract as FCO.

3. Seller issues contract as the FCO for the approval and agreements from the buyer with the signature.

4. Buyer approves signs and returns the FCO to Seller.

5. Seller issues contract with full banking for buyer's signature and return.

6. Proof of exchanged product and proof of funds from bank to bank by KTT.

7. Buyer’s bank sends pre-advised L/C for non-operative 2% P.B. of the total L/C in return. PB activates L/C.

8. SGS or other inspection company will inspect and extract the sample from the product to test for the true value and quality at the loading duck, which should be vacuumed, sealed and forwarded to the buyer for comparison at the discharged port.

9. The shipping & delivery times should be executed and performed as the agreement on the contract

10. Certificate of Quota Entry (CQE) is available for buyers who request it, and it will be presented bank-to-bank as part of Permit of Purchase (POP).