Procedures
Step-by-Step Guide to Secure and Structured Negotiations.
Procedures
Our Commitment to Transparency and Efficiency.
On this page, you will find the detailed procedures that ensure clarity, security, and trust at every stage of our negotiations. Our commitment to transparency and efficiency ensures that each negotiation is conducted in a structured manner, fostering strong relationships between producers and clients.
Steps of our
Procedure SBLC MT760
Letter of Intent (LOI): The End Buyer sends an official Letter of Intent (LOI).
Meeting (Optional): At the Buyer’s request and at the Seller’s discretion, a meeting with the buyer, the buyer’s legal representative, and the seller may occur via Zoom, Google Meet, or similar (optional). Authorized mandates of the End Buyer, if present, must be mentioned in the LOI, ICPO, and SPA.
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The seller’s representative sends a SCO (Soft Corporate Offer), outlining the approved CIF conditions, prices, and the non-negotiable procedure.
The buyer submits a signed and stamped ICPO to the seller, following the approved procedure, along with the following documents: Passport Copy (in full color). Know Your Customer (KYC) documentation of the buyer’s company, including complete details of the legal representative. Proof of Funds (POF/RWA/BCL), issued by the buyer’s bank in favor of the seller. If the country requires government clearance and/or quotas, proof must be submitted along with the ICPO.
Full Corporate Offer (FCO): The Seller sends an official FCO to the Buyer, indicating approved CIF conditions and prices, along with the Non-Negotiable Procedure.
Buyer’s Confirmation and Documentation: The Buyer fills in their details, signs/stamps the FCO, and returns it along with a Color Copy of Passport to the Seller, together with an ICPO including the seller-approved procedure, KYC, and proof of funds (POF/RWA/BCL).
Draft Contract/SPA: The Seller issues the Draft Contract or SPA and sends it to the Buyer within 72 hours for review. Upon acceptance, the Buyer informs the Seller in writing of their acceptance of the SPA draft within 72 hours.
Final Contract/SPA: The Seller issues, signs, and seals the Final Contract or SPA, accompanied by the Commercial Invoice (CI), and sends it to the Buyer. The Buyer signs, seals, and returns it within 24/48 hours.
Contract Deposit: Once the Invoice is fully accepted, both Buyer and Seller will deposit a fully signed and executed copy of the contract (SPA) with their respective banks.
SBLC Processing: The Buyer commits to processing the SBLC MT760 within 12 days.
SBLC for Trial Shipment: The Buyer issues an Irrevocable, Transferable, Assignable, Divisible, Confirmed, and Operational Swift MT760 (SBLC) covering the Trial Shipment value, valid for ninety days.
SBLC for Monthly Shipments: The Buyer issues an Irrevocable, Transferable, Assignable, Divisible, Confirmed, and Revolving Operational Swift MT760 (SBLC-MT 760) to be revolving until the end of the contract.
SBLC Confirmation: The Seller receives SBLC confirmation from the Seller’s bank.
Performance Bond and Shipping Documents: The Seller issues a 2% Performance Bond (PB) within 12 days of SBLC Confirmation, along with all shipping documents.
Shipping Confirmation: The Buyer confirms receipt of shipping documents.
Document Confirmation and Title Transfer Request: Within 48 hours after receiving shipping documents, the Buyer’s bank confirms receipt and requests the title transfer.
Payment (MT103): The Buyer’s bank releases payment (MT103) at the Loading Port upon receipt of complete shipping documents.
Title Transfer and Document Delivery: Upon Bank Confirmation by the Seller, the title is transferred to the Buyer’s name, and all documents are delivered.
Customs Clearance: The seller is responsible for customs clearance at the loading port; the buyer is responsible for customs clearance costs at the destination port.
Inspection and Acceptance: Upon arrival at the discharge port, the buyer provides proof of inspection by SGS or similar and confirms acceptance of the goods.
Import Requirements: The Buyer must comply with legal requirements to import goods into the destination country.
Automatic Inspection (Optional): If the vessel arrives at the destination port within three days and the Buyer does not conduct an SGS inspection, the SGS inspection at the loading port will be considered final.
NOTE: TO OBTAIN A PROOF OF PRODUCT (POP), The buyer must transfer an MT 700 or MT 760 with one (1) months’ worth of funds, blocked for four (4) days and conditional upon conversion into the financial instrument (12 months total SBLC or DLC) upon receipt of the POP from the seller’s bank.
GENERAL BUSINESS PRACTICES
The seller values the confidentiality of its buyers and business partners and, therefore, DOES NOT provide examples of previous performance documents, photos, videos, names, identities, or communication with past buyers or business associates, considering such actions a clear violation of customer confidentiality and unethical business practices.
All business processes and communications are conducted in writing. No business shall be conducted verbally over the phone or through social media platforms.
The seller does not entertain or organize orientation trips to fields, factories, or warehouses. We provide a 2% PB only after we receive the buyer’s financial guarantee. For SBLC-DLC, we do not provide POP before it reaches us. Thank you for not requesting these from us.
The seller guarantees high-quality products, competitive prices, and strict adherence to fair trade practices.
All transactions are conducted through the banking system, and the seller does not request advance cash payments from buyers.
Cyra Holdings
At Cyra Holdings, we are committed to delivering high-quality global commodities, fostering strong and enduring partnerships within the agribusiness sector. Our mission is to connect the finest products to international markets, ensuring excellence, sustainability, and value for all our clients and partners.
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