K M R HOLDING (PVT) LTD  
 
 
  ICC Procedure  
  We only work on ICC (International Chamber of Commerce) procedures as follows:

  1. Buyer issues "LOI" with requested Product Specification, Quantity, Shipment's Lots, Port of Destination, Time of Delivery, Terms of Payment and all other details including Buyer's Banking Information.
  2. Seller issues "FCO" to be confirmed, signed and sealed by the Buyer.
  3. Sellers issues the "draft Contract" to the Buyer for his approval.
  4. Buyer signs and seals the "Draft Contract" returning it to the Seller by fax or e-mail attachment.
  5. The Seller signs and seals the "Draft Contract" and issues the "Final Contract" to the Buyer, sending a Copy to the Buyer by Fax or e-mail attachment. "Hard Copies" of the "Final Contract" shall be issued in Six (6) originals copies, which shall be exchanged by the Seller and the Buyer, after signed and sealed by both, through a "First Class International Courier Service", no longer than Five (5) International Banking Days after "Receipt Date" by the Seller of the "Draft Contract" signed and sealed by the Buyer. "Final Contract Copies", signed and sealed by both the Seller and the Buyer, shall be deemed as "Legal and Valid" to carry out the "Contract Implementation Procedures" as hereafter referred, until "Hardy Copies" be exchanged.
  6. Within Seven (7) International Banking Days after "Signature Date" of Draft Contract" by both the Buyer and the Seller, the Buyer issues through his Bank the "L/C PreľAdvice", sending it by "Banking Swift" to the Seller's Bank, and the "Prove of Funds" (POF). Besides, the Buyer sends to the Seller the respective "Draft of L/C Words", in order to both be able to "Mutually Agree" for the "L/C Terms and Conditions" before the issuance by the Buyer's Bank of the "Non-Operative L/C Original", for avoiding "Banking Charges" due any "L/C Changing and/or Amendment" that might be required further.
  7. Within Seven (7) International Banking Days after "Receipt Date" by the Seller's Bank of the "L/C Pre-Advice", the Seller issues through his Bank the "Proof of Product" (POP) sending it by "Banking Swift" to the Buyer's Bank.
  8. Within Five (5) International Banking Days after "Receipt Date" of the "Proof of Product" (POP) by the Buyer's Bank, the Buyer Instructs his Bank to issue the required "Non-Operative Letter of Credit" in favor to the Seller, sending it by "Banking Swift" to the Seller's Bank.
  9. Within Seven (7) International Banking Days after "Receipt Date" by the Sellers Bank of the "Non-Operative Letter of Credit" and after approval of the "L/C Terms" by the Seller and his Bank, the Seller issues through his Bank the respective "2% Non-Operative Performance Bond Guarantee" (PBG), sending it by "Banking Swift" to the Buyer's Bank. The Buyer's Bank has to confirm receipt within "Three (3) International Banking Days" from the date of issue, in order to make both the "Letter of Credit" (L/C) and the "2% Performance Bond Guarantee" (PBG) automatically "Operatives". Should Buyer's Bank fail to confirm the receipt of such "PBG", the "Letter of Credit" (L/C) and the "2% Performance Bond Guarantee" (PBG) become automatically "Operatives" after 3rd day.
  10. First Shipment like will be mentioned in the future Contract starts not later than 30 to 45 Days after the acceptance and approval by the Seller/Seller's Bank of the "Workable Payment Instrument" (Operative L/C). The "Seller of Credit" (L/C).
 
 
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