- Buyer sends LOI (Letter of Intent)
- Seller sends FCO (Full Corporate Offer)
- Buyer signs FCO and sends ICPO (Irrevocable Corporate Purchase Order) to the seller
- Seller issues “Draft Contract” open for amendments
- Both parties confirm “Draft Contract” by endorsing it
- Buyer and Seller bank communicate and agree on the final wording of DLC (Documentary Letter of Credit) – Draft LC
- Buyer and Seller sign and stamp the “Final Contract”
- LC (letter of credit) issuance within 3 business days
- Prepare for shipment and vessel arrangement
- Shipment commence as per contract