TRADE PROCEDURES
GGT’s STRICT TRANSACTIONAL PROCEDURES
- Seller submits an Offer to Buyer for procurement consideration (allowing validity to prevail).
- Buyer accepts, signs and returns Offer (while validity is in effect).
- Draft Contract issued by Seller. 7 days allowed for contract to be signed and returned by PDF e-mail.
- As per contract: DLC from Buyer advised 5 days thereafter. Seller prepares to have goods made ready.
- Direct communication between Seller and Buyer remains open, Buyer arranges vessel for transport of goods.
- Seller prepares goods for loading, upon Buyer’s named vessel arriving at Port of Loading (POL).
- 1st Delivery takes place. Clean delivery documents produced to Buyer’s bank for processing. Ship slips moors.
- Collection on DLC applied for, and payment is collected as per the Seller’s Invoice value
- Buyer kept informed of loading and vessel tracking, name, ETA advised.
- Vessel arrives port or destination (POD). Goods are secured.
- Next ship enacted monthly in same order of application as applicable to a revolving order.
- 60 days rejection clause for defective goods applies (if no Buyer’s on sight inspection took place prior to, or at the time of, loading at POL).
