PROCEDURES FOR BUYERS “PROOF OF FUNDS” & OUR SUPPLIERS “PROOF OF PRODUCT”
OPTION 1
Our Supplier can provide a partial POP (Proof of Product) in form of an AFFIDAVIT, CONFIRMED BY THE SELLERS BANK. This will be supplied AFTER the Buyers Bank issues a BANK COMFORT LETTER (BCL), which confirms that the buyer has the financial means and capacity to proceed with the proposed transaction (Proof of Funds). You can request a sample BCL from our mandates or brokers, which needs to be provided to us in order to proceed to contract stage. PLEASE NOTE THAT WE WILL NOT ENTERTAIN ANY REQUESTS WHERE THE BUYER IS NOT WILLING TO PROVIDE A BANK COMFORT LETTER.
Or (Read carefully)
OPTION 2
Our Supplier will issues full POP on a NON-ACTIVE L/C alone, before the operative LC of the buyer! Full POP is a bank to bank instrument and includes ports of loading, delivery schedule etc. We put our money where our mouth is and our suppliers’ contracts will reflect their firm intent and ability to do business and provide real cement at real prices.
These procedures above GUARANTEE that we know we are dealing with a solvent and potential buyer and in return it ensures that the buyer and the buyer’s bank are fully aware that the seller is A GENUINE & DIRECT SELLER and has the capacity and financial standing to deliver the quantity of Portland Cement as ordered. We put our money where our mouth is and our suppliers’ contracts will reflect their firm intent and ability to do business and provide real cement at real prices. Can you pay for the Commodity?
CBM International 