Quote is prepared by FSAP Ltd HK as seller mandate and given to buyer

The buyer issues a letter of Intent (LOI) with the soft probe authorization duly signed/or a Bank Comfort Letter (BCL), from their bank.

FSAP on behalf of the supplier, then send a Final Contract Offer (FCO) to buyer, confirming that LOI has been accepted and detailing the pricing, procedure and specifications of the product. This needs to be signed by the buyer and returned via fax/email to FSAP

The supplier issues a Draft Contract to the buyer for comments and acceptance. The buyer signs and returns the draft contract to FSAP via fax and email, showing all amendments required and adds full banking coordinates as set out within FSAP checks and forwards to the supplier, if all changes are deemed acceptable.

An Amended Draft Contract is sent to the buyer, for signing, and then faxed to FSAP who will forward to the supplier. The signed Amended Draft Contract shall be deemed legal until final contract hard copies are exchanged. This shall not delay the buyer from establishing the payment instrument in the seller's account.

The supplier sends the Proof of Product (POP) against the Proof of Funds (POF) (the draft LC letter provided by buyer's bank). Within FIVE (5) banking days after the Amended Draft Contracts, signature, the buyer opens a financial instrument in their own bank and then provides the supplier Non-Operative Letter of Credit for approval and then forwards it to the supplier's bank.

The supplier amends where necessary the Hard Copy Contract, signs, seals and issues to the buyer for his completion, the buyer signs the hard copy contract and returns it to the supplier via DHL. Any facsimile copy shall be considered as the original. The Buyer shall return with the signed and sealed contract a full page copy of their passport.

Within TEN (10) banking days after the receipt and confirmation of a letter of credit acceptable to the supplier the supplier then issues a fully active two percent (2%) Performance Bond of the letter of credit value, at which time the buyer's Letter of Credit becomes Fully Active and Operative.

Delivery and shipment commence as per the terms and conditions of the contract.

The first shipment will commence no later than THIRTY-FIVE (35) days from date of issue of the operative Letter of Credit. The remaining consignments will be affected in each 30-45 days periods after the acceptable operative L/C at seller's bank.