Commodity Business

4. Within Five (5) banking days of signed Contract, the Buyer issues a IRDLC and/or SBLC and /or BG covering the value of one month shipments valid for 13 months  Bank to Bank. The Seller issues an operative Performance Guarantee for the value of 2%  of the monthly shipments Bank to Bank. 

(The Bank Instrument have to be issued by an acceptable Bank by the Seller.)

5. The Non-operative Bank Instrument becomes operative after the receipt of the operative Performance Bond automatically.

6. Shipments commence as per the terms, conditions and the shipment schedule of the signed contract.