Every organization needs a Standard Operating Procedure (SOP) to ensure clarity, consistency, and transparency in the way it operates. A defined procedure helps all stakeholders clearly understand how transactions are executed, what to expect at each stage, and the responsibilities of each party. This transparency builds confidence and enables the end user or client to make an informed decision, knowing exactly how the organization works and whether it aligns with their expectations.
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The transaction is initiated when the buyer submits an Irrevocable Corporate Purchase Order (ICPO) or Letter of Intent (LOI). This document formally confirms the buyer’s intent to purchase and outlines essential commercial terms such as product specifications, quantity, target price, delivery terms, destination port, and payment structure. This step establishes seriousness and provides the seller with a clear basis to proceed.
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Upon receipt and review of the ICPO/LOI, the seller issues a Full Corporate Offer (FCO). The FCO contains finalized commercial and technical details, including pricing, product specifications, origin, inspection terms, delivery schedule, payment terms, and validity period. This document represents the seller’s official and binding offer to supply the goods.
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The buyer carefully reviews the FCO to ensure alignment with their requirements. Upon agreement, the buyer signs and returns the FCO, confirming acceptance of the seller’s terms. This step formally validates mutual understanding and moves the transaction toward contractual commitment.
View GalleryStandard Operating Procedures define how a company works, ensuring transparency, control, and consistency. A strong SOP framework minimizes risk, enhances credibility, and reinforces the organization’s commitment to professional and secure execution.
After receiving the signed FCO, the seller issues a Draft Sales Contract. The buyer reviews the contract in detail and may request amendments if required. If no changes are needed, the buyer signs the contract as issued. Once both parties agree on the terms, the contract becomes legally binding.
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Following contract execution, the seller issues a Proforma Invoice (PI). The PI reflects the agreed commercial terms, including total contract value, advance payment amount, bank details, and shipment timeline. This document enables the buyer to proceed with the advance payment.
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Shipment preparation and execution commence within 10–15 days after the seller receives the 30% advance payment as stipulated in the contract. This stage includes production allocation, packing, logistics planning, and vessel scheduling to ensure timely delivery.
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Both parties enter into the execution cycle and perform their respective contractual obligations
in good faith. All actions—production, inspection, documentation, shipping, and payment—are carried out
as mutually agreed, ensuring smooth and compliant trade execution.
This procedural document and associated commercial offer remain valid for seven (07) working days from the issue date,
Any acceptance or action beyond this period requires revalidation or reissuance by the seller.