Payment Terms / Procedure:
- Buyer/ buyer’s representative issues a Letter of Intent (LOI) to seller.
- Seller issues Full Corporate Offer (FCO) for the total quantity of 5-10 million masks.
- Buyer/buyer’s representative signs the FCO as token of acceptance, and send it back to seller.
- Seller sends a Prove of Product (POP) such as warehouse warrant, or warehouse receipt, or SGS Certificate, to buyer/buyer’s representative.
- Buyer/buyer’s representative presents Prove of Fund (POF) to seller.
- Buyer/buyer’s representative sends a letter to seller requesting him to issue a Pro forma Invoice for the first delivery.
- Seller issues a Pro forma Invoice for 5-10 million masks as first delivery and send it to Buyer/buyer’s representative.
- Buyer arranges with his bank the payment for the first delivery by TT or LC, payable upon the buyer received the goods CNF destination airport Europe within 48 hours.
NOTE: Escrow is also accepted as part of the above process.