Seller sends draft
contract/commercial
invoice/performance bond text for
negotiation.
Seller and Buyer sign and seal final
version of contract/commercial
invoice electronically via email or
fax.
Performance Bond (2%) posted
Buyer’s bank, shall issue a letter in
favor of the Seller, guaranteeing
the opening of financial instrument
immediately following the signing
of hard copies of the contract
Seller/Buyer sign and seal the
original contract.
Shipment commences in
accordance with the agreed
schedule
o Seller loads ship
o Seller shares proof of product
documents
o Ship sails to CFR/CIF
destination Balboa Panama
o Letter of Credit releases
payment in NOR plus 5 days, buyer
takes title
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