Agro commodities and solid minerals differ in terms of delivery and payment. We work with industry standards in all contract execution.
The buyer issues a Letter of Intent (LOI) expressing their desire to purchase the specified commodity, including required quantity, quality specifications, and delivery terms.
Upon receipt of the LOI, Mydiat Global Services issues a Full Corporate Offer (FCO) detailing the terms, pricing, and conditions of the proposed supply.
The seller issues a draft contract subject to amendment. Both parties review and negotiate terms to ensure mutual agreement on all provisions.
Both seller and buyer agree to the terms and sign/seal the contract, making it legally binding and enforceable.
The seller issues a 2% Performance Bond (PB) as guarantee of performance and commitment to deliver the commodity as specified in the contract.
The buyer issues an irrevocable, non-transferable, non-divisible and confirmatory Letter of Credit (LC) as the agreed mode of payment, securing the transaction for both parties.
Other commodities, due to peculiarities, will differ in terms of delivery and mode of payment. Nevertheless, we work with industry standards in all contract execution. Please contact us for specific commodity procedures.