Step 1 – Initial Contact

Buyer submits an LOI (Letter of Intent) or initial inquiry including target product, quantity, destination, delivery basis and company profile.

UR GLOBAL TRADE conducts an initial commercial and compliance review before proceeding.

Step 2 – ICPO and Buyer Qualification

Qualified buyers submit a duly signed ICPO together with supporting corporate and financial documents.

• Corporate KYC documents
• Bank Comfort Letter (BCL) or equivalent banking proof
• Bank capability evidence or financial statements
• Operational buyer details

Where intermediaries are involved, they must be disclosed and properly registered in the transaction structure.

Step 3 – SPA Drafting and Execution

UR GLOBAL TRADE issues the draft SPA (Sale and Purchase Agreement) reflecting the agreed commercial structure.

• Product specifications
• Quantity and tolerance
• Pricing formula
• Inspection terms
• Delivery terms
• Payment structure
• Governing law and arbitration
• Force majeure and compliance clauses

The transaction proceeds only upon mutual execution of the SPA.

Step 4 – Banking Instrument Issuance

Buyer issues the agreed banking instrument through an acceptable international bank.

• Documentary Letter of Credit (DLC) MT700
• Standby Letter of Credit (SBLC) MT760, if agreed
• Other bankable security only if expressly agreed in the SPA

All financial instruments are subject to UCP 600, ICC rules and Seller’s banking acceptance.

Step 5 – POP / Commercial Availability Confirmation

After SPA execution and banking readiness confirmation, Seller may provide Proof of Product or limited commercial documentation at its sole discretion.

Any POP or commercial confirmation serves only to confirm commercial availability and deliverability and shall not constitute disclosure of Seller’s supply chain, title chain, refinery chain, storage records or upstream counterparties.

Step 6 – Shipment Preparation

Upon confirmation of operative banking instrument, Seller coordinates supply allocation, cargo scheduling, shipment preparation and execution planning.

Step 7 – Vessel / Cargo Coordination

Depending on the delivery basis, Seller or Buyer nominates the vessel in accordance with the agreed INCOTERM and operational schedule.

Seller coordinates loading readiness, terminal acceptance, logistics counterparties and cargo movement.

Step 8 – Independent Inspection

Quantity and quality are verified by an independent inspection company acceptable under the transaction structure.

• SGS
• Bureau Veritas
• Intertek
• QIMA / CCIC or equivalent, where applicable

Inspection may be performed at loading port, discharge port, warehouse or terminal depending on the SPA and LC terms.

Step 9 – Shipment and Insurance

Seller coordinates loading, transport and insurance in accordance with the agreed delivery basis.

Under CIF structures, Seller arranges marine insurance for minimum 110% of cargo invoice value unless otherwise agreed.

Step 10 – Shipping Documents Presentation

Seller presents the required shipping and commercial documents in strict conformity with the SPA and operative financial instrument.

• Signed Commercial Invoice
• Clean on Board Bill of Lading
• Packing List
• Certificate of Origin
• Inspection Certificate
• Insurance Certificate
• Weight / Quality Certificates if required

Only documents expressly required in the financial instrument and SPA shall be required for payment.

Step 11 – Documentary Examination and Payment

Payment is effected strictly against compliant documents in accordance with the operative banking instrument.

Banks deal with documents and not with goods, services or performance except to the extent expressly stated in the financial instrument.

Once documents are found compliant, the issuing bank honors payment in accordance with UCP 600 and the agreed transaction structure.

Step 12 – Cargo Release and Contract Continuation

Upon payment or banking release in accordance with the agreed structure, documents are released and Buyer takes possession of the cargo.

In long-term contracts, revolving instruments or repeat shipment structures may continue automatically subject to SPA terms and prior shipment completion.