PROCEDURES

1. Buyer's issues Irrevocable Corporate Purchase Order (ICPO bankarized) and

BCL + NCNDA.
2. Seller issues a draft-contract to the Buyer by fax/e-mail for acceptance and
signature.
3. Buyer signs and seal and returns the signed draft-contract by fax /e-mail to the
4. The financial instruments will only be activated after the factory accepts the
contract. No financial instrument will be accepted without the consent of our
factory
5. Buyer's bank confirms availability of the Financial Instruments to the
Seller'sand their readiness to issue. The format/ text of such Financial
Instrument tosupplied by the Buyer's bank and approved by the Seller's bank.
6. Seller forwards four (4) hard copies of original final contract signed and
stamped to Buyer by DHL or similar courier.
7. The buyer signs and returns 2 hard copies of original final contract signed
andto seller by DHL or similar courier.
8. The aforesaid Financial Instruments to be non operative.
9. Seller agrees that the Performance Bond (PB) 2% will be issued after receipt of
the's BG FULL OR SBLC FULL, non operative Financial Instruments, for a time
period of 12 months
10. The Performance Bond (PB) 2% activates the Financial Instruments. Over the
first BG FULL OR SBLC FULL.
11. The First shipment will commence no later than 45 (Fourteen) days from date
issued of the operative Financial Instrument. The remaining consignments will
be
Shipped in each 30 (thirty) day periods.
12. Effect of payment for each consignment shall be effected within 5 (Five)
banking days after receipt by the Seller's Advising Bank of all documents
required for payment.