⦿ We recommend that buyers assess the working procedures prior to seeking a quote. By doing so, you can adequately prepare your company to adhere to the established deadlines.
⦿ We do not utilize Letters of Intent (LOI); all necessary information can be provided through the Request Quote form on our website.
To ensure a smooth and effective negotiation with Shakti Enterprises regarding our commodities, we recommend considering the following key points:
▶ Refer to the global market for price guidance, as it influences pricing. Avoid presenting us with inaccurate prices sourced from the internet. Key sources for this inquiry include:
ISO SUGAR – International Sugar Organization
LONDON SUGAR STOCK PRICE
▶ Now that the current market price is known, follow these 3 simple steps to get in touch with us:
a) Specify your requirements: product type, total quantity, destination port, target price
b) Verify if your company is prepared to issue a financial instrument [DLC/LC or SBLC MT760 ] through one of the Top 50 banks globally.
c) Utilize our FORM to submit a quote request.
1. BUYER sends ICPO (Corporate Irrevocable Purchase Order)
- ICPO shall contain: Full banking and business details of the acquiring company, Company Letterhead ( Only TOP 50 banks will be accepted )
2. SELLER issues FCO (Full Corporate Offer)
3. BUYER returns:
a) the FCO signed and sealed, accepting price and sale terms
b) BCL (Bank Comfort Letter)
c) draft of the DLC/LC/SBLC MT760 for validation by the SELLER's bank
After approval of the above documents, the next stage of the procedures shall be:
4. SELLER issues SPA (Sales Purchase Agreement)
5. BUYER signs, seal and return a scanned copy of the SPA to the SELLER via email and will be deemed a legal and official Purchase and Sale Contract until physical copies are exchanged.
6. SELLER issues the Commercial Invoice
7. BUYER returns the approved, signed and stamped Commercial Invoice to SELLER
8. The BUYER’s bank issues SBLC/DLC/LC (MT 700/760) as a guarantee for one month and sends it to the seller’s bank within 10 banking days.
IMPORTANT
The instrument must be: Confirmed, Revolving, Transferable, Irrevocable, Divisible, Operational, Renewable with Payment via MT103 for DLC/LC or MT760 in case of SBLC, upon presentation of the shipping documents (BL and SGS) by the SELLER at the port of origin.
9. Performance Bond: After receiving banking instrument, the seller's bank issues a 2% Performance Bond (PB) to the buyer's bank within 10 working days for contracts dependent on payment at the origin. Proof of Product (POP) is issued within 15 days regardless of payment method.
10. The buyer will be issued an invitation letter to accompany the shipment at the port, if deemed necessary.
11. The loading of the ship is scheduled within 35 to 45 days, and there is a possibility of an earlier loading.
12. Release of payment shall take place upon issuing of the Bill of Lading (BL) and SGS shipping documents.
Payment of 30% against pro forma invoice and 70% after sending shipping documents
▪️ SBLC will be issued valued at one month of supply, with a maturity period of 1 year and 1 day and shall be irrevocable, unconditional, transferable and divisible.
▪️ Issued or confirmed by a TOP 50 Bank
▪️ Payment by MT 760
▪️ Confirmed, Revolving, Transferable, Irrevocable, Divisible, Operational, Renewable
▪️ Issued or confirmed by a TOP 50 Bank
▪️ Payment via MT103
IMPORTANT NOTES:
▪️ We engage in negotiations exclusively with the buyer and not intermediaries. Kindly refrain from insisting on this matter.
▪️ Under no circumstances do we send Bill of Lading (BL) or other shipping inspection certificates from previous customers.
▪️ Without any exceptions, we refrain from shipping physical samples.
▪️ We do not operate according to the Buyer's procedures. It is essential for buyers to agree to and adhere to our established working procedures. We will not alter our procedures.
Freight shipments booked without a contract
Minimum contract period 6 months.
Bank Comfort Letter - letter issued from the Buyer's Bank to the Seller.
Ready, Willing, and Able (RWA) Letter issued by the Bank on behalf of its clients.