The price of CPO per MT is according to the price set by MPOB when theagreement signed by both parties(the seller and the buyer) for one year ormore(depending on terms and conditions of contract).
The buyer is required to issue a Letter of Intent (LOI) mentioning the requiredquantity of CPO to be supplied in MT.After receiving the LOI by the seller,thefollowing procedures for the transaction is as followed :
| PROCEDURES 1. Buyer issue Irrevocable Corporate Purchase Order (ICPO) and Bank Comfort Letter (BCL) 2. Seller issues Full Corporate Offer alongside with Non Circumvention & Non Disclosure Working Agreement 3. The Buyer returns endorsed and sealed Full Corporate Offer and NCNDA 4. Seller issues Sales Purchase Agreement (SPA) 5. Seller changes the Transaction Code known as Passport Transaction Code after due consultation with the buyer 6. Seller issues bank to bank Proof of Product (POP) upon confirmation order from buyer 7. Buyer just bank in local bank one day earlier before delivery. 8. LC or other acceptable method of payment will be activated 9. Upon completion of all verifications, delivery, and shipment commences as per contract. Please revert as soon as possible if you have any querries on the above procedures or any other matters related to the trading of CPO.We would be much obliged to fulfill your requirements and willing to meet up with you to discuss further on the matter.
ThankYou.
JalaluddinIsmail
012 3131138
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