Transaction procedures  Exporting rocks directly from mines to port and beyond 

 

Ex-Warehous

1-Buyer and Seller agree and sign contract terms below

2-Buyer's agents visit warehouse to inspect the goods. 

3-Buyers Bank post 100% Irrevocable Confirmed L/C to seller's Bank

4- Seller loads Buyer trucks or vessel with inspected cargo.

5-Buyer's bank confirms and wires payment to Seller's bank

Free on Board

1-Buyer and Seller agree and sign contract terms below

2-Buyer's agents visit warehouse to inspect the goods. 

3-Buyer sends Seller information of booked loading vessel for verification

4-Buyers Bank post 100% Irrevocable Confirmed L/C to seller's Bank

 

5-Seller loads Buyer's cargo ship

6-Seller's bank sends Buyer's bank copies of shipping documents for verification. 

7-Buyer's bank confirms and wires payment to Seller's bank

Vessel Take Over

1-Buyer and Seller agree and sign contract ​terms below

2-Buyer's agents board to inspect the cargo.

 

3-Seller introduces Buyer to vessel handler to negotiate chartering vessel.

4-Buyers Bank post 100% Irrevocable Confirmed L/C to seller's Bank

5-Seller's bank sends Buyer's bank copies of shipping documents for verification. 

8-Buyer's bank pays for cargo

9-Cargo ship sails to Buyer's instructed destination

Shipping Documents

 

1) Commercial Invoice (on the letterhead of the exporting company)

Names, addresses of consignor and consignee, description of goods, name of the vessel or airlines, data of sailing, port of loading and port of discharge, net and gross weight, quantity, unit price, total value of the shipment, contents of each container, currency, number of L/C and freight and insurance.

2) Certificate of Origin: (Issued by the exporting firm)

Vessel name, date of sailing, nationality, origin and street address of goods. A signed true and correct document statement. An attached, notarized, appended declaration to certificate of origin to include name and address of the importer, description of the goods, and address of the shipping company.

3) The Bill of Lading or Airway bill: (Issued by the steamship)

Value, net and gross weight, quantity of shipped goods, name and address of consignee and consignor, shipping company and/or shipping agent, name of vessel and date of sailing, port of loading and port of discharge, etc.

4) Notarised Steamship certificate: (Issued by the steamship)

Name of vessel, and previous name (if applicable), nationality of vessel, owner of vessel, name(s) of ports (airports) that Vessel (plane) will call on en route to the Port (airport) of discharge.

A- Port (airport) of loading

B- Port (airport) of discharge

5) Insurance Certificate: (Issued by an insurance company in at least one original)

Amount of insurance, description and value of insured goods, name of vessel, port of loading, port of discharge, name and address of beneficiary. Name and full address of the duly qualified and appointed agent or representative.

6) Packing List: (Issued by the exporting firm)

Names and addresses of consignor and consignee, description and value of goods, net and total weight, quantity, contents, numbers of seals, and number of L/C (if applicable).

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Part of the Cactus global commodities group