IN ORDER TO START A TRANSACTION,  ALL OF OUR SUPPLIERS REQUIRE A FAXED (or scanned) Request for Quotation (RFQ) on end buyer official letterhead BE SENT (+27-11-972-3764  - South Africa). THIS WILL ALLOW THEM TO GET ALL THE DETAILS OF THE TRANSACTION SO THEY CAN GIVE YOU A LEGITIMATE PRICE QUOTE.  

PROCEDURE:

END BUYER SEND A COMPLETED, SIGNED AND VALID LOI (LETTER OF INTENT) or  REQUEST FOR QUOTATION ON BUYER’S LETTERHEAD AND BCL (BANK CAPABILITY LETTER) ON BUYER’S BANK LETTERHEAD, INCLUDED WITH ALL THE DETAILS, SPECIFICATIONS AND TARGET PRICE, BEFORE WE SEND THE END BUYER A FULL CORPORATE OFFER.

HOWEVER, BECAUSE OF MANY REQUESTS WE HAVE THROUGHOUT THE WORLD WE WOULD NEED A SIGNED LOI / RFQ & BCL FOR THE PRODUCT ON EACH OCCASION AND FOR EACH COMMODITY.

SORRY WE REGRET TO HAVE TO INFORM YOU THAT WE DON’T RESPOND AND GIVE PRICES WITHOUT A SIGNED LOI / RFQ & BCL FROM THE END BUYER.

PLEASE NOTE THAT THIS IS OUR COMPANY POLICY, AND NO OTHER PROPOSED PROCEDURE WILL BE CONSIDERATE. 

  IF THE SOFT PRICES ARE ACCEPTABLE TO YOU, THE NEXT STEP IS FOR YOU TO ARRANGE WITH THE BANK THAT WILL BE ISSUING THE IRREVOCABLE LETTER OF CREDIT (ILOC) TO FAX TO US THE TEXT OF THE PROPOSED ILOC. FILL IN ALL THE SPACES SUCH AS PRICE, QUANTITY, SPECIFICATIONS, ETC., BUT DO NOT FILL IN THE BUYER'S NAME (WE DON'T NEED TO KNOW THAT YET) AND DO NOT SIGN THE LC.

  This enable our bank to review the proposed ILOC and perhaps make suggestions for amendments, informally, at no cost to the buyer. At this point if all terms and conditions are acceptable to both buyer and seller, a Full Corporate Offer (FCO) is made to the buyer.

  From here on the transaction goes very quickly to a successful conclusion, since all of the hard work has been done informally in PRE-APPROVING all the documents that will be used.

Please read the above procedure carefully. If you cannot or will not accept this procedure we will not be able to work with you on any of your requirements. This procedure is not a typical BROKERS procedure. It is a TRADERS procedure.

ALL PRICES ARE SOFT, SUBJECT TO CONFIRMATION. ALL PRICES ARE QUOTED BASED UPON A DOCUMENTARY LETTER OF CREDIT. DEPENDING ON THE STRENGTH OF THE LOC ISSUING BANK, IT MAY BE NECESSARY TO HAVE THE LOC CONFIRMED BY A PRIME BANK. YOUR LOI WILL TELL US THIS.

ALL PRICES ARE FOB, UNLESS STATED OTHERWISE.