ACS TRADING CORPORATION - U.S.A.
PROCEDURES FOR PROCESSING ORDERS
ACS Trading Corporation follows United Nations International Trade
Procedures for Sale of Goods. The following is a summary:
- Buyer submits a complete Letter of Intent with a Bank letter qualifying
the buyer to purchase the quantity listed on the Letter of Intent and fax to ACS Trading Corp. at 530-672-6442 in the U.S.A.
- Pre Fee Agreement can be sent to ACS for signature.
- Seller/ACS will then issue a complete corporate offer.
- Buyer returns signed offer to seller.
- Seller then issues a contract with full banking.
- Buyer returns signed contract to seller.
- All Intermediary Commissions will be protected by Agent Fee Agreements.
- Buyer's Bank Officer contacts Seller's Bank Officer or vis a versa, by telephone to confirm readiness to proceed with the signed contracts. (optional)
- When the two bank officers confirm readiness, Seller's bank then KTT's buyer's bank to verify Funds readiness and to confirm proof of product (if applicable and optional)
(Bank Comfort Letter).
- After confirmation of funds and product, Buyer's bank opens Non-Operative or Pre-advise Letter of Credit.
- Seller's bank activates Letter of Credit by posting a 2%Performance Bond in favor of buyer. (Only applicable to shiploads of soybeans, sunflower seeds and sugar) Not applicable to sales of other commodities, frozen seafood,canned seafood or food supplements.
- Shipments commence as per contract.
- Seller usually pays for Inspection at loading port.
- Buyer should have all documentation checked or verified by a reputable Freight Forwarder.
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