Procedure for Purchasing

Procedures

1) Buyer issues a LOI + BCL or Bank Endorsed ICPO.
2) Seller issues Proforma Invoice to Buyer.
3) Buyer sign seal and return the Proforma Invoice to Seller.
4) Buyer sends Draft LC Verbiage to seller for approval.
5) Buyer Bank sends a DLC to the seller’s Bank
6) Shipment Starts

Procedures for Bulk Vessel Shipments

1) Buyer submits LOI & BCL or Bank Endorsed ICPO.
2) Seller approves LOI and BCL. Seller Issues FCO.
3) Buyer sends signs FCO with all information completed.
4) Seller issues Contract for Buyer’s signature and Buyer returns signed Contract to Seller.
5) Buyer sends Draft LC Verbiage to seller for approval.
6) Buyer Bank Issues Non-Operative Letter of Credit to the Seller in 5 Days after Signing the Contract.
7) Sellers Bank confirms 2% PB and Activate the Letter of Credit.(Only for Contracts)
8) Shipment commences as per contract.

Payment Terms For Containerized Shipments

1) 25% Advance And 75% Against Documents (Cad)
2) Irrevocable, Transferable, Confirmed Letter Of Credit 100% Payable At
Sight Upon Presentation Of Shipping Documents, The Dlc Has To Be
Confirmed From Any Of The Top 25 Prime Banks

Payment Terms For Bulk Vessel Shipments-Spot Shipments

1) Irrevocable, Transferable, Confirmed Sblc/Dlc 100% Payable At
Sight Upon Presentation Of Shipping Documents, The Sblc/Dlc Has To Be
Confirmed From Any Of The Top 25 Prime Banks
2) Irrevocable, Transferable, Confirmed “Mt100/72” 100% Payable At Sight Upon
Presentation Of Shipping Documents, The Sblc Has To Be Confirmed From
Any Of The Top 25 Prime Banks

Annual Contract Shipments

1) Irrevocable, Transferable, Confirmed Sblc/Rdlc 100% Payable At
Sight Upon Presentation Of Shipping Documents, The Sblc/Dlc Has To Be
Auto-Revolving, Confirmed From Any Of The Top 25 Prime Banks
2) Irrevocable, Un-Restricted, Confirmed “Bg” Bank Guarantee Of One
Shipment Value And Every Month Tt-For The Shipped Value Upon
Presentation Of Shipping Documents, The Bg Has To Be Valid Until Completion
Of The Contract As Agreed And Bg Shall Be Issued & Confirmed From Any Of The
Top 25 Prime Banks

Owned and Managed by Mid Atlantic Logistics Unlimited, Inc.

Mid Atlantic Logistics Unlimited Inc. known as MALU is a global physical commodity trading and logistics company designed to assist you with your business growth.  Our main goal is to get you access to raw materials and easy logistics movement globally.  We do that by :

  • Buying and selling physical commodities globally.

  • Eliminate challenges most procurement departments face in big corporations and governments

  • Provide client with value services through easy performance in the fulfillment of trade, execution, preparation and negotiation for obtaining the best competitive rate in the marketplace.

  • Establish  good working relationships with global suppliers and buyers to build a business to business credit and trust