IXH TRADING PROCEDURES

Here on this page, we will discuss our company’s method in its commercial transactions with our valued customers, which our company has adopted in order to preserve its customers and in order to continue commercial operations between the company and its valued customers. We will also leave correspondence forms between the two parties to the commercial transactions, then it will be easy for our valued customers to follow.

1  - The buyer sends a letter (letter of intent) clarifying his intention to  purchase the commodity he wishes to buy, including quantity, buyer data, type of commodity, technical specifications, packaging, port of arrival, definition of entry, identification of customs item (HS code), method of payment, determination of whether it is a single shipment or an annual contract and determination of the validity of the purchase order.

2  - The sller will issue FCO (Full Cooperate Offer), containe all clearly respose for the buyer requests, and in case there wil be any alternatives for the buyer requirements which mentioned previously on LOI, the seller should mention these alternative in details, then once the buyer accept these alternatives he should resend the recived FCO after applying full details, signed & stamped.

3 - The buyer issues ICPO (Irrevocable Corporate Purchase Order) and RWA/BCL as POF (Proof of Funds).

4  - The Seller issues the draft of SPA (Sales & Purchase Agreement), then it will be send to the Buyer in order to revise it & modify with any desigred requirements from his side, and after the Buyer approval he will return SPA to the seller included all information about the company (all company Docs) the same for the Owner.

5  - The Seller issues the draft of SPA (Sales & Purchase Agreement), then it will be send to the Buyer in order to revise it & modify with any desigred requirements from his side, and after the Buyer approval he will return SPA to the seller included all information about the company (all company Docs) the same for the Owner.

6 - Buyer returns SPA (Sales & Purchase Agreement) of signed, stamped and scanned contract by email and will be considered legal and official Purchase and Sale Agreement until copies are exchanged.

7   - The seller issues Commercial Invoice.

8   - The buyer returns the stamped and signed Commercial Invoice.

9   - Buyer submits draft of SBLC / ARDLC / DLC.

10 - The seller returns the above bank instrument with possible changes.

11 - The buyer’s bank issues SBLC / ARDLC / DLC (MT 700/760) as a guarantee for one one year and one day and sends it to the seller’s bank within 5 days. 

The bank instrument must be revolving, transferable, irrevocable, divisible, operational, renewable and confirmed by top 50 bank. Cash payment by MT 103 according to presentation of shipping documents (B / L + SGS).

12 - Following the open Banking instrument, the Seller’s Bank sends the Buyer’s Bank a 2% PB (Performance Bond) in the amount of a remittance and a POP (Proof of Product) within 5 days.

13 - Within 30/40 days the ship will be loaded.

14 - Payment against BL and SGS (shipping documents).

15 - Payment against BL and SGS (shipping documents).

16 - Seller Bank send order to ” Ship’s release “.