Description
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BANK PAYMENT UNDERTAKING (BPU)
SOP:
DOCUSIGN NCND
BUYER ISSUES: ATTORNEY LOA, KYC, AML, ICPO
(NAME ON ICPO MUST MATCH NAME ON THE BANK ACCOUNT WHEN ATV IS
ISSUED)
SELLER ATTORNEY ISSUES ATV TEMPLATE TO BUYER ATTORNEY FOR BUYER TO
ISSUE ATV.
BUYER/BUYER ATTORNEY ISSUES ATV & BANK OFFICER BUSINESS CARD
(FRONT & BACK) IF MONEY IN USA. BUYER ATV & BANK OFFICER
BUSINESS CARD (FRONT & BACK) WITH BCL IF MONEY OUTSIDE USA.
SGS VIA SGS PORTAL
SPA & IMFPA
BUYER ISSUES BANK PAYMENT UNDERTAKING (BPU)
INSPECT
PAY
LIFT
Extended version
A:Required conditions: Funds verification method:
a )ATV from top *0 US bank (**0% of total payment SETTLEMENT
METHOD: (BorC)(VorX) b )Payment by TT,transferred to title holder
account the Singapore DBS head office of bank, for joint management
and control, to cooperate with financial operation and Bank Payment
Undertaking (BPU).
c )Payment by TT, transferred to title holder account the top *0 US
bank for joint management and control, to cooperate with financial
operation and Bank Payment Undertaking (BPU).
B: MEET THE ABOVE CONDITIONS TO EXECUTE SOP:
) Buyer submission: NCNDA&IMFPA+LOI+LOA+KYC+ICPO+POF+ATV from
top US Bank.
) Due diligence require ****2hours. After audit result is approve
NCNDA&IMFPA +(FCO or LOA)+ICPO+ joint Online verification SGS
Lots. c ) (1or 2) (/ or X)
1.Both parties sign SPA and custody agreement.Payment by
TT,transferred to title holder account the Singapore DBS head
office of bank, for joint management and control, to cooperate with
financial operation and Bank Payment Undertaking (BPU) .SGS
2.Both parties sign SPA and custody agreement.Payment by TT,
transferred to title holder account for joint management and
control, to cooperate with financial operation and Bank Payment
Undertaking (BPU).SGS.
d ) Seller delivers the goods as planned, buyer pays within *4
hours after inspection when the goods arrive at the port.
REMARKS:
Only top *0 US Banks will be accepted as Proof of funds.
Only liquid funds , will be accepted and funds will be confirmed by
bank officer on A to A call. assets with LC and RWA and ETA from
Financial/Bank /institutions / trust funds will not be accepted
