How To Buy

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We are, TCAN GROUP, as an exporting and trading company issue this documents to help you understand better our business procedure to supply Sulfur.

We subscribe to Commodity Exchanges in Iran, Turkmenistan and Iraq by our partners that provide us with regular reports that we circulate to our customers to keep them informed of changes that regularly occurs in market. We react to market factors and may make possible changes in pricing without public notice. We try to do our best to get the best product for our customers then if you want to know better this market, be in touch with us.

MAJOR PARTIES IN TRADE PROCEDURE

Seller (Target Supplier);
Middleman (as the Importer in the relation to target Supplier and as the Exporter in the relation to final Purchaser);
Buyer (Final Purchaser).

IMPORTANT POINTS

LOI ACCEPTANCE CONDITIONS

LOI must be the final and official buyer with the letterhead.
These items must be attached to LOI: 1- Company Profile, 2- Old BL of sulfur order (if you buy sulfur regularly) or SBLC ( if it is your first time), and 3- a copy of company manager passport.
It must be in the name of “XXXXX” and the names of the brokers must be mentioned in it.
It must include the requested analysis of cargo.
All LOIs that are not complete will be returned by us.
All requests must be sent to the official emails of “XXXXX” only through the official email of the buyer.

ICPO ACCEPTANCE CONDITIONS

Freshly dated (not older than 2 working days).
The letterhead is genuine, check for any signs of cut and paste or scan and edit. In the letterhead, we need complete company name, address, phone number, fax number and email address.
The information’s must be detailed and we need a specification.
The ICPO /LOI must be addressed to us “XXXXX”.

LC ACCEPTANCE CONDITIONS

LC must be at sight within which when vessel casts off the POL and documents are passed to buyer’s bank, B2B negotiations start between buyer/seller banks leading to payment release.
LC must be a confirmed non-transferable LC issued by a prime East Asian bank.
To work on the CIF delivery term for East Asian countries, we prefer to receive LC from Singaporean countries.
In CIF Delivery, Origin of the cargo will be Oman or The UAE on the document set. Please confirm this matter with your end buyer, who will issue LC.
Cargo size will be at least 30,000MT.
We will issue a Q&Q inspection report on the POL basis with a document set to be lodged with the buyer’s bank.

TRADE PROCEDURE (STEP BY STEP)

Step 1. Letter of Intent - LOI

Middleman finds interesting potential suppliers of the goods and sends the Letter Of Intent (LOI) to purchase the goods presenting their conditions of purchase.

Step 2. Soft Corporate Offer - SCO

Potential Seller (Target supplier) or Seller Mandate sends Soft Corporate Offer (SCO).
Middleman as the Importer (in the relation to the potential Seller) issues an LOI to sale of the goods to interesting Buyer (Final Purchaser).

Step 3. Irrevocable Corporate Purchase Order - ICPO

After acceptance of the proposed LOI conditions, the Buyer sends Middleman confirmed LOI (including bank details) and issues Irrevocable Corporate Purchase Order (ICPO), in the accordance with the LOI conditions, treated as Soft Corporate Offer (SCO) of the Middleman.
Middleman confirms a LOI of the Seller`s, and ICPO of the Buyer.

Step 4. Full Corporate Offer - FCO

Seller issues a Full Corporate Offer (FCO) and a brief Company description.
Middleman confirms FCO and issues Irrevocable Corporate Purchase Order (ICPO) and a Bank Comfort Letter (BCL).

Step 5. Draft Contract

Seller (Target Supplier) sends Draft Contract for negotiations.
Seller as Exporter and Middleman as Importer, after negotiations of the Draft Contract, sign and seal the Sale and Purchase Agreement (agreed Contract), exchanging the electronically copies.

Step 6. Proof of Funds - POF

The Bank of the Middleman within 3 (three) working days provides to the Bank of Seller the Proof of Funds (POF).

Step 7. Proof of Product - POP

The Bank of Seller within 3 (three) working days provides via SWIFT MT799 to the Bank of the Middleman the confirmation of the possessing of Proof of Product (POP) issued to the name of the Seller and the readiness to issue the Performance Bond (PB), as bank demand guarantee (2% – two percent of the value of the Contract).
The Bank of the Middleman within 3 (three) working days after receipt of SWIFT MT799 establishes a no operative, agreed by the Contract Parties instrument of payment [T/T, MT 103/23, Transferable (Revolving), Confirmed Documentary Credit, Standby Letter of Credit or Bank Demand Guarantee], in the accordance with the conditions of Sale and Purchase Agreement.
Middleman issues FCO in full accordance with the conditions of the Buyer`s (final Purchaser) ICPO.
The Buyer confirms Full Corporate Offer (FCO) and acceptance of the Middleman`s procedures and willingness to work 100% strictly according to the Middleman’s procedures incorporated on the ICPO.
The Buyer signs and returns FCO with endorsed FCO Acceptance Form.
The Middleman confirms signed FCO, endorsed Acceptance Form send by the End Buyer.

Step 8. Draft Contract

The Middleman issues Draft Contract and sends it to the Buyer, Buyer returns the Draft Contract, with his suggestions.
The Middleman and End Buyer sign and seal the final form of the Contract, exchanging the electronically copies.
The Bank of the Buyer within 3 (three) working days provides to the Bank of Middleman`s the POF.
The Bank of the Middleman within 3 (three) working days provides via SWIFT MT799 to the Bank of Buyer the confirmation of the possessing of POPissued to the name of Middleman.
The Bank of the End Buyer within 3 (three) working days from receipt of SWIFT MT799 establishes an agreed by the Parties instrument of payment in favour of the Middleman [ for example establishes a no operative Transferable, Confirmed (Revolving) Documentary Letter of Credit].
The Middleman within 3 (three) banking days after the receipt of the no operative Letter of Credit (L/C), signs and seals the 6 (six) hard contract copies and send to the End Buyer, who countersigns and returns 3 (three) copies back to Middleman.
The Middleman and the Buyer lodge the contract in their banks.
The Middleman and the Seller (Supplier of goods) lodge the hard copies of the Sale and Purchase Agreement, issued, signs and seals in six originals (three copies for each of the parties) in their banks. The Bank of Buyer activates the L/C.
The Middleman after receipt of the advice from the issuing L/C Bank of the Buyer (SWIFT MT700 – issuing of the transferable L/C in favour of the Middleman), instruct his bank to transfer of the letter of credit to the Seller, as supplier of the goods (SWIFT MT720).
The Seller informs the Middleman about the readiness for shipments.

TT PAYMENT PROCEDURE

Cash (TT) Trade Procedure

The buyer sends the LOI.
The seller issues the SCO.
The buyer submits the offer and ICPO along with complete banking information for review by the seller.
The seller sends the preforma invoice or preforma and NCNDA / IMFPA.
The buyer sends an agreed amount to the seller’s account as an advance payment.
The seller sends the shipping documents Copy to the buyer.
After the shipment documents Copy reach the buyer, the rest of the final invoice will be transferred to the seller’s account.
Commissions are issued to NCNDA / IMFPA within 24 hours of buyer confirmation of payment and the payer is issued by NCNDA / IMFPA and its Paymaster.

TERM OF SULFUR PURCHASING FROM IRAN & TURKMENISTAN

Option 1: Directly from Manufactures/ Producers

Step 1. Registration (legalization) of your company or your agent in the Commodity and Raw Materials Exchange and the acquisition of a brokerage seats.
Step 2. Participation of your company in the auctions.
Step 3. Buy the necessary goods at the auction held by the Commodity and Raw Materials Exchange.
Step 4. Payment of Exchange fees and conclusion of a contract with Manufacturers.
Step 5. Logistics / transportation of goods.

Point 01: if you want to buy regularly, This option is best choice.

Point 02: The price will determine by each auctions, then It is not fix.

Option 2: From Foreign Companies/Our Partners.

Often, it happens that required goods need to be shipped immediately and you do not have time for registration (legalization) of your company or your agent and acquisition of brokerage seats. In this case, you will have to purchase the goods not directly but from third part which have previously bought, but still not exported the goods you require.

For few years, we have been engaged in providing consulting, transport and logistics services to companies. We will help you to buy Sulfur you require from our foreign partners.

Step 1. Provide us with information about required Sulfur.
Step 2. We are waiting for a response from foreign companies / our partners.
Step 3. Negotiations with the Seller.
Step 4. Conclusion of a contract with the Seller.
Step 5. Logistics / transportation of goods.

Point 01: This option is good for Turkmenistan Sulfur.

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