Procedure for a case if the seller has possibility to expose Performance Bond
1. The seller lets out FCO (the certificate Giredmet Testing Analytical Center qualities, ).
2. The buyer and bank of the buyer FCO (the coordination of the price, the form of payment, quality assurance).
3. The seller gives the draught contract.
4. The parties in electronic form sign the contract.
5. The bank of the buyer confirms readiness to let out the documentary letter of credit
6. The parties exchange the signed originals of contract
7. The bank of the seller lets out Performance Bond (the Bank guarantee of execution) period of validity of 30 calendar days.
8. The bank of the buyer lets out irrevocable, executed in bank of the seller, the renewed letter of credit period of validity of 30 days.
9. The seller within 30 calendar days delivers the goods (the first tranche in volume not less than 1000 ) in a free customs area of the airport of Frankfurt on Main and deposits on the name.
10. The parties and laboratory Fresenius make verification of quality and quantity of a material. 11. In case of positive result, the acceptance Certificate / transfers which serves for disclosing of the letter of credit subscribes.
Simultaneously the buyer pays to 2 groups the intermediary (from outside the seller and from outside the buyer). 12. The price for 1st quarter 2009 48 000 USD/gr Netto + 1 000 USD/gr for intermediaries from outside the seller + 1 000 USD/gr for intermediaries from outside the buyer.
Price Gross - 48 000 USD/gr the Buyer agrees to consider procedure variants from outside the seller.
For example, in case of impossibility of exhibiting Performance Bond which usually = 2 % from tranche cost, the buyer agrees that instead of Performance Bond the seller for this sum has exposed the goods in the volume estimated of 2 % from cost of a tranche.