2. FCO shall be provided to Buyer or their Attorney
3. A2A – Only if needed. Validating process providing POF verification and authentication.
4. Sales and Purchase Agreement (SPA).
5. Pay in advance 30% of the total contract value (Issued by a reputable bank in Vietnam with original guarantee certificate as prescribed), And 70% of the contract value to open full At sight letter of credit, no cancellation horizontal, to be transferred.
Step1: Seller sends V Gloves, and replies to buyer’s letter of order. Both parties confirm on this FCO and these are the irrevocable basic terms of the sale and purchase contract.
Step 2: Both prepare the SPA based on the confirmed FCO, then Sign SPA.
Step 3: 30% deposit in advance with BGL and 70% LC at sight transferable irrevocable
Step 4: Balance payment LC realeased against SGS/ TUV/BV report
7. ITLC is provided by buyer to cover at minimum two months production of product, other than when a one-time order is made. A Delivery Schedule will be provided by the Seller at this point.
8. Physical Inspection / POL / Due Diligence performed by Buyer.
9. Presentation of Documents is provided by Seller to Buyer and is accepted by Buyer.
10. Buyer receives product and title is transferred – Transaction is Completed.
11. Buyer accepts and agrees to follow the SOP closely.