1) ICPO
2) Seller and Buyer Signs, seals
final contract. 3) Within 3 working days after
signing contract, the buyer’s
bank
issues non- operative LC
5) Within 10 days of verification
of LC, Seller bank will issue
2% Performance bond for the
value of monthly Shipment
to make LC operative. 6) Shipment of 50,000 MT per
ship will start within 35-
40 days and will continue till the
completion of the
contract. Payment will be
released by negotiating
shipping documents at the desk
of seller’s bank which
should be authorized to transfer
and negotiate LC
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