Sugar chicken and bulk materials SBLC/BG transaction process:

1After the contract is signed, the buyer arranges MT 799 to the bank designated by the seller

2Seller confirm MT 799

3Seller Provides GACC Numbers, & CNJP Mill REG Numbers If the seller fails to provide GACC, and CNJP Numbers., the Seller will be fined 2%.

Same  If the 799 cannot be issued by the Receiver Bank in 7 working days from the Provider Bank a 2% penalty 

4Buyer Bank issues SBLC 760 funds to Seller Receiver Bank. Minimum Instrument Value (MIV) of a Purchased SBLC of $64M USD.

5With confirmation of 760, ABO will reimburse the Buyer up to $75K USD for SBLC expenses.or the issue fee of SBLC 

6After the Buyer’s SBLC 760 VERIFIED and successful loan, the seller immediately provides 2% PB to the buyer’s account, otherwise the Buyer can forcefully withdraw the SBLC 760, and the Seller will be fined 2%

7Shipments begin as per the SPA