JP54 fom VENEZUELA

SPA procedure  JP54  fom VENEZUELA

Subject: F.C.O CONDITIONED ON RECEIPT OF BANK GARANTY FOR FIRST

1- Buyer issued a letter of intent (ICPO) and Reference Banking

2- Seller issues FCO + contract.

3- Buyer signs FCO and issues ICPO including Bank Coordinates.

4- Seller is draft contract buyer seller agree on content.

5- Seller issues Original Contract to buyer in PDF file. It will be the first original legitimate

contract document, but after first shipment , 4 hard copies will replace it.

6- Buyer issues the daft of L/C is Confirmed, Irrevocable, and Non Transferable L/C to

seller’s confirmation seller will confirm with buyer’s Bank.

7- The seller confirmed la FULL POP and PB 2%

8- Buyer’s L/C be Operative .

9- Delivery begins as per contract procedure