»An initial payment of
50% of the total
invoice amount is due when a Letter
of Intent ("LOI") is signed.
»The balance
is payable either by Letter of Credit or by bank
transfer against receipt of the Bill of Lading.
»Delivery time:
six (6) to eight (8) weeks after receipt of initial payment
»The prices are understood
FOB Nigerian port.
»The merchandise will be dispatched in
20' and/or 40' foot containers.
»The minimum purchase is
one 20' container. A 20' foot is based on 20cubic meters (20m3) order
+/-( 8,000 Board Feet)
»
A 40' foot container is
based on 35-40 cubic meter (35m3-40m3) order +/- ( 14,800-17,000 Board
Feet)
»1Cubic
meter (m3) is (424 Board Feet)
»
Letter Of Credit Explanation:
- You instruct your bankers to issue
our bankers a confirmed irrevocable Letter of Credit (L.C.) for the amount in any currency; A Letter Of
Credit is drawn up by your bank in conjunction with yourselves and
is a recognized financial instrument designed to protect the
buyer and seller in international dealings. The L.C. describes in
detail the items to be purchased (condition and number of items,
insurance, inspection etc.) and states the conditions of
payment to the seller (when and how the amounts are payable) The
L.C. is only honored when all conditions have been met as checked by
both yours and our ban
- Our bankers
will notify us that your Letter of Credit has been
confirmed and we begin to manufacture as per the Letter of Credit;
- Your
items will be safely and securely packed with the utmost care, so
that the items arrive in the same condition that we pack them;
- An approved certification agent from
S.G.S Societe Generale de Surveillance (www.sgsgroup.com)
or someone of your choice inspects all items and once
packed and loaded, seals the crate or container before it is handed
to the shipping agents. An Inspection report from S.G.S or
someone of your choice is required before the Letter of Credit
is payable (for you peace of mind);
- The
shipping agents ensure that the crate or container is transported and
insured according to international standards. They commit the
crate or container to its journey and send all
documentation (L.C., Bill of Lading, Insurance, Inspections
etc.) to our bank for inspection; and
- When our bank is satisfied
that all conditions on the L.C. have
been met they courier all documents to your bank, which then
rechecks all documentation, after which they contact you for
final authority to release the funds to us. Your bank then
releases the documents to you which enables you to take
possession of the items from the clearing agent.