In any SLC transaction, bank would act as trustee for funds and provide secure product delivery. Buyer financial capability must be shown by bank endorsement letter, bank probe permission or pre-advice LC at time of LOI submission. Should seller probe indicate buyer is not financially qualified, buyer will not be reconsidered. Procedures Buyer provides Letter of Intent addressed to La Jolla International on Buyer letterhead with signature and seal. La Jolla International will confirm buyer banking coordinates and sugar availability from mills.
Buyer accepts, signs offer and faxes back.
Seller prepares contract from offer and faxes to Buyer. Upon signing draft contract, bank to bank proof of funds and proof of product will occur per contract. Shipments will commence as per contract.