• Belden

    August 9, 2021 at 8:30 PM

    The SOP is:
    1. Buyer issues an LOI addressed to 3M GLOBAL and initiates an NCNDA with details of the “key” parties to the deal with their e-mail addresses.

    2. Seller initiates a Docusign document viae-mail to the “key” parties only.

    3. Immediately after Docusign, Buyer issues KYC and MT199/BCL as POF.

    4. Seller reviews documents provided by Buyer as part of due diligence

    5. Seller initiates a ZOOM call with the Buyer to address all details ofthe deal and payment terms options available for payment towards the Cost of Goods via ITDLC or Escrow.

    6. Seller issues an FCO.

    7. Buyer signs the FCO and issues an ICPO for the order.

    8. Buver pays 3% value of the Order on Escrow(not negotiable) to 3M company as a Performance Bond to show commitment to the order after Proof of Product.

    9. Seller issues a draft SPA for Buyers confirmation and endorsement.

    10. Sellr provides LC Verbiage or initiates an Escrow Agreement based on the payment terms selected.

    11. Buyer provides Operative LC or funds the Escrow per the Delivery Schedule in the SPA.

    12. Production commences as per the Delivery Schedule.

    13. Seller will provide Certifications and Authorization for vetting.

    14. Onsite inspection, Packing List, Airway Bill/Bill of Loading will be made available by the Seller as Proof of Product.

    15. Buyer can perform SGS at Buyer’s cost. (Note: Factory will provide their Standard SGS documents on quality and quantity is provided in step 13 & 14).

    16. Confirmation and release of payment from LC or Escrow based on the quantity for loading.

    17. Buyer arranges delivery to final destination.