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1)
Buyer
agrees on the pricing by fax or by e-mail with
Seller (ATC). Pricing is different for products in
stock ready for immediate shipment as compared to 35
to 45 days delivery. Then Buyer and Seller sign
contract.
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2)
Seller (ATC) bank officer will call Buyer bank
officer by telephone to verify that the Buyer has
funds to do the transaction. Buyer must advise their
bank officer to expect this phone call.
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3)
Once Seller bank officer confirms the availability
of funds, Seller bank will transmit proof of
products (POP) to Buyer bank by SWIFT.
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4)
Buyer's bank officer can call Seller bank officer
again to confirm, and discuss the payment methods -
either MT 103, L/C, Bank undertaking, Bank
Guarantee, etc.
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5)
Buyer bank issues agreed upon payment methods per
step 3 above, and Seller makes vessel booking and
transmits the booking information to Buyer. Again,
Buyer can call the port authority to confirm the
booking.
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6)
Seller loads the products to vessel and SGS office
e-mails the SGS report directly from SGS office to
Buyer. Please note that this is very important to
prevent FRAUD on the SGS certificates. By having SGS
office e-mails the SGS report and then Buyer can
contact SGS directly to confirm that the report is
genuine, there is no chance of errors.
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7)
Buyer bank then releases the payment to Seller Bank
and collects shipping documents.
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