CIF Procedure

Transaction Procedure

Indicative framework for qualified counterparties within a structured contractual environment.

CIF Procedure

Transaction Procedure

This procedure is provided for indicative purposes only and may be adjusted depending on the transaction, jurisdiction, and documentary requirements.

1. Buyer ICPO

Buyer issues ICPO on company letterhead including Passport / Business Registration Certificate and full banking details.

2. Draft Contract

Seller issues draft contract open for any amendments.

3. Buyer Signature

Buyer signs and returns the contract to Seller.

4. Countersignature & POP

Seller countersigns and issues POP documents including Statement of Availability, Commitment to Supply, Certificate of Origin, Product Quality Passport (GOST R), and Commercial Invoice.

5. SBLC & Performance Bond

Within 5 banking days, Buyer’s Bank issues SBLC via MT760. Seller’s Bank issues 2% Performance Bond. Shipment preparation begins. If Buyer fails, a $1,000,000 security deposit is required.

6. Full POP Documents

Seller’s Bank issues full POP documents via bank or courier.

7. Shipment Arrival

Shipment arrives at destination port within 10–15 days.

8. SGS / CIQ Inspection

SGS/CIQ inspection at loading and discharge ports.

9. Final Payment

Buyer releases payment via MT103/TT after confirmation of quality and quantity.