The Proof of Product (POP) consist of the following documents:
A. Company registration certificate
B. Commitment to supply
C. Confirmation of product availability
D. Export license
E. Product certificate of origin
F. Product analysis report
1. Upon verification of the POP, the buyer will issue MT 103-23 for the first month of shipment.
2. Upon confirmation that MT103-23 has been issued, Seller sends full proof of product to the Buyer’s bank via SWIFT and to the Buyer via courier. At this stage the title of ownership will be changed to the name of the Buyer.
3. Seller appoints and signs charter party agreement with a suitable and reliable shipping company and sends copy of CPA to the Buyer.
4. Shipment commences as per terms of the Charter Party Agreement and terms of the signed and legalized contract.
5. On completion of the discharge of the cargo at the delivery port, Buyer’s bank releases payment for full cargo to the seller’s bank after receiving positive test by SGS or its equivalent, the shipping and surveyors’ documents from the delivery port.
6. Immediately upon the receipt of the Buyer’s financial instrument the Seller will release Payment to all involved intermediaries.
