QUOTE(Daniel Joel @ Oct 9 2008, 09:51 PM)
Do you have any proof or certificate that you are selling this?
Is it legal?
thanx Daniel on the interest..
As mentioned before we are direct mandate for our Principle which based in Hong Kong.
Normal practice in selling physical commodities which being offered by us, the buyer will by requesting the prices of the required commodities..(but here we have officially opened up the prices for certain commodities).
If the buyer agreed with the offered price, they will inform the quantity required, destination of the goods to be delivered etc.
We will inform our Principle on this and they will issue Soft Corporate Offer ( SCO ) to the said buyer with further details i.e. the spec of the commodities, the terms & conditions like payment mode, the IncoTerm
(International Commerce Terms) etc.
Upon receiving the SCO from our Principle, and agreed with the terms & conditions laid down, the buyer will issue their ICPO ( Irrevocable Corporate Purchase Order ) / LOI ( Letter of Intent ) to our Principle. Normal practice nowadays, buyer will include their BCL ( Bank Confirmation Letter ) to inform our Principle their POF ( Proof of Fund ).
Our Principle will issue FCO ( Full Corporate Offer ) with all details required on the goods, terms and conditions, etc. to the buyer.
Upon agreed by the buyer, they will sign the FCO and at this point our Principle will table down all required information that you have asked, before the contract being signed by both parties.
For your info and all beloved DTM members (and guests), this is legal according to the International Trade Organization.
We hope that it will give you an idea on the work process of trading in physical commodities.