Scrap Metal - Iron Steel

We require current ICPO/LOI & BCL or the ability to perform a SOFT PROBE, UP FRONT, in order to begin ANY business negotiations. Any inquiries without this will no longer be responded to and will automatically be deleted. If serious, this will not be a problem. If it is a problem, we will be unable to assist you. We DO NOT accept spot and or trial contracts. Purchase Procedures: * Buyer submits Letter of Intent (LOI) and Bank Comfort Letter (BCL). BCL must be fresh dated not older then 7 working days, LOI must be on Buyers letterhead and not older then 7 working days and ICPO must be on Buyers letterhead and not older then 7 working days. * We will then (and ONLY then) issue it’s FCO. * Buyer accepts and agrees to the terms and conditions of the FCO by counter signature & corporate seal. The contract is then returned to us. * We will submit our Draft Contract with full banking. The Draft Contract shall be signed by both parties and sent via fax and or e-mail, which will be deemed as original and valid. * Hard copies of the Contract to be issued by us signed and exchanged with the End Buyer ONLY. * We and Buyer will lodge the hard copies of the Contract with their respective banks. * The Buyer’s bank provides Proof of Funds to our bank. The Proof of Funds is the operative or non-operative LC * We will provide Proof of Product Bank to Bank. Prime banks only supply POP after the LC has been established. * Buyer will present pre-advised L/C to be approved by Our Bank. * WE will issue 2% Performance Bond to activate the Letter of Credit. * Delivery and shipment commence as per Contract. * We are only interested in doing business with BUYERS and INTERMEDIARIES who carry-out a good and fair practice of international trade. Payment Terms: All payments are by way of irrevocable, divisible, confirmed and transferable DOCUMENTARY CREDIT established by a top PRIME BANK for 100% invoice value, payable at sight against shipping documents. Payment can be made by DLC, RLC, SBLC, BG, Unconditional SBLC/BG.