International Business Development and Import-Export Consulting Services

How to Buy Commodities

We help seller and buyer and all the proper informationBuying Procedure

  1. Buyer issues a LOI and buyer’s bank issues a BCL presenting their wording for Stand By LC or BG for seller’s bank’s approval.
  2. If LOI and BCL are in good order, the Seller issues Full Corporate Offer (FCO) for buyer’s signature (acceptance of amount, price, and payment terms).
  3. Buyer signs FCO and returns it via fax or email.
  4. The buyer receives the USDA Certificate in the name of the Seller.
  5. Contract: Once the seller has the FCO signed by the buyer and all the proper information (supplied via the LOI and BCL), the contract with full banking is issued for signing.

We assist buyers with all the proper informationContract Procedure

  1. Seller sends draft contract to buyer.
  2. Buyer returns the signed contract via fax or email, indicating the contract will be considered an original. Or the buyer requests the alterations necessary and sends it to the seller for approval.
  3. Seller issues four hard copies of the final approved contract to be signed and exchanged.
  4. Buyer furnishes confirmation text of draft payment instrument for seller’s bank approval within three banking days from signing the contract.
  5. Seller approves payment text within three banking days thereafter.
  6. Buyer’s bank issues operative, irrevocable and confirmed payment instrument within five banking days thereafter.
  7. Upon confirmation of funds within ten banking days, seller issues an operative performance bond to buyer for 2%.
  8. Delivery and shipment commence as per agreed schedule.

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