We solely trade Brazilian-made Incumsa sugar, which we sell through spot and contract transactions to buyers in Africa, North America, and Europe.
Trading Operational Procedure
- 1. Buyer Initiates the Process
The process begins with the Buyer issuing a Letter of Intent (LOI) and a Bank Comfort Letter (BCL). These essential documents lay the foundation for a robust trading relationship, signifying the buyer’s intent and financial credibility.
- 2. Our Response
Upon receiving the LOI and BCL, we respond with a comprehensive and detailed Full Corporate Offer (FCO). This document outlines the terms, conditions, and specifications of the proposed transaction, setting the stage for further progress.
- 3. Confirmation and Commitment
The Buyer, upon reviewing the FCO, returns a signed and stamped copy, demonstrating their commitment to the proposed terms.
- 4. Drafting the Contract
With mutual commitment established, we prepare and share the Draft Contract, incorporating the agreed-upon terms and conditions.
- 5. Contract Finalization
Both Buyer and KORS Tradelines diligently review and sign the Contract, solidifying the foundation of the trade relationship.
- 6. Financial Instruments Initiated
As a demonstration of trust and financial commitment, the Buyer opens a non-operative Bank Guarantee (BG) or Standby Letter of Credit (SBLC) in favor of our bank.
- 7. Activating the Trade Engine
With the financial instruments in place, we issue a Performance Bond Guarantee of 2%, accompanied by Proof of Product (POP). This step marks the transition to operative instruments, unlocking the pathway for shipments to commence in alignment with the contract terms.
- 8. Seamless Shipments Begin
With the financial instruments activated and Performance Bond Guarantee in place, shipments of sugar commence as per the terms and conditions outlined in the contract. This phase of the procedure showcases our commitment to transparency, reliability, and ethical trade practices.
Through this meticulously designed Sugar Trading Operating Procedure, we navigate the complexities of sugar trading with precision, integrity, and a steadfast dedication to fulfilling our commitments. At KORS Tradelines, we ensure that each step of this journey is orchestrated to perfection, leaving no room for ambiguity and delivering a seamless and prosperous trade experience.