FULL CORPORATE OFFER
TO:
I, _______________________________, with full legal and corporate responsibility, and under penalty of perjury, with full knowledge of the act of fraud; and as the Seller am ready, willing and able to deliver the herein offered Goods under the following terms and conditions:
Commodity:
Form:
Quantity:
Origin:
Price:
Discount:
Payment:
Delivery Terms:
FCO must be signed and sealed by the seller/seller's mandate ONLY.
A FCO issued by seller or seller's mandate must have a letter stating that they have the authority to sell on behalf of the principal, and must be signed and witnessed by a public notary.
2. The Buyer/Buyer's Mandate submits a letter of intent/LOI (RWA/RWAD) and a contract.
3. The Seller/Seller's Mandate responds with the signed and sealed contract with full banking coordinates.
4. The Buyer/Buyer's Mandate signs the contract, and accepts the invitation of the Seller. The Buyer/Buyer's Mandate sends a hard copy of the contract/agreement signed by both Buyer and Seller with full banking coordinates.
5. Upon receipt of the proof of existence of goods and the certificate of authority to sell, the Buyer will instruct confirm the availability of funds to be used as payment.
6. The Buyer and the Seller agree on a window time for exchange.
Dated ____________;
X______________________________________
Seller
Print Name:
What does RWA mean in the oil trading business
carriage paid to
Sales and Purchase Agreement,
RWA = ready, willing and able POF = Proof of funds
fco in international trading is:Full Corporate Offer .This is the final, detailed, specific offer that the seller is sending to the buyer.Doron Tamir, Advocate.http://law.tamir.co.il/?cf=wikians
POF stands for proof of fund that is used for collateral or securities. It proofs that one has fund to maintain any cost.
RDl/c means REVOLVING DOCUMENTARY LETTER of CREDIT - it is banking instrument & it usual payment term in Int' trading when we speaking for yearly contracts. in this case each month shipment-loading has the same value.
CIS: Chinese International Shipping
Performance bond A surety bond between two parties, insuring one party against loss if the terms of a contract are not fulfilled. Usually part of a construction contract or supply agreement.
The International Ship and Port Facility Security Code (ISPS Code)
Incoterms is a set of trade terms wich define the costs and risks for sellers and buyers in the international trade. Incoterms is a trademark of the International Chamber of Commerce.
It basically just means borrowing(:People just have different ways of saying it.ex. Regrouping, Trading, ect.