Documentation & Sample LOI, ICPO and BCL

We will ONLY accept to start negotiations upon receipt of Buyer’s LOI (including full banking coordinates and authorization for soft-probe on Buyer’s account), which should be nominal, and not older than 5 banking days.

ORG's non-exclusive offer is subject to prior sale, and it is presented as first come and first serve basis.

The payment instrument conditions are irrevocable and non-negotiable.

The contract conditions are irrevocable, unconditional and non-negotiable.

No visit to yards or stock will be allowed prior to contract and Fee Payment Agreement signing.

No information regarding previous shipments or contracts will be provided.

The terms of the payment instrument must be approved by the Seller and Seller’s Bank.

The Buyer agrees that no product will be delivered to either any United States or United Nations sanctioned port, or those that may still be considered Safe World Ports, but are located in current war zones or areas or conflict.

The presentation of a Full Corporate Offer (FCO) is always contingent to the presentation of the Buyer’s Letter of Intent (LOI) containing full banking coordinates and explicit authorization for soft probe. In addition the Buyer must present the Bank Comfort Letter (BCL).

The Buyer also agrees that his response to this offer constitutes the acceptance of a Non-Circumvention and Non-Disclosure Agreement, with corporate and individual responsibilities, extended to heirs, assignees, and/or successors, to be signed with our Corporation, according to standard terms suggested by the International Chamber of Commerce (I.C.C.) 500, and valid for 5 (five) years, or the length of the contract, which ever lasts longer.


Closing procedures:


Standard closing procedures, starting with the Letter of Intent (LOI) or the Irrevocable Corporate Purchase Order (ICPO), including full banking information and explicit authorization to soft probe on Buyer’s bank account, and fresh Bank Comfort Letter (BCL). Refer to samples below of LOI, ICPO and BCL

The Seller responds with Full Corporate Offer (FCO) and Draft of Contract.

Contract discussion and signing. All copies sent via email or fax is deemed as legally binding. The hardcopies are exchanged via courier;

The Buyer sends RWA or Proof of Funds (POF) via Bank to Bank (SWIFT MT799), and the Seller responds with Proof of Product (POP) in the same fashion.

Buyer will open agreed payment instrument, as indicated above, as pre-advice (non-operative).

The Seller issues the Performance Bond (PB) of 2% of monthly shipment amount, which activates payment instrument.

Shipments commence as per contract.

IMPORTANT notes regarding documentation submitted for consideration;

More than half of all requests we receive are rejected due to inconsistencies found on them. Therefore, to avoid frustration and save precious communication time, please make sure the following is observed and respected.

The requests must be presented in a complete Irrevocable Corporate Purchase Order (ICPO) or letter of Intent (LOI), in the Company’s letterhead (Corporate official stationery with full address and contact information), containing full banking information (including Account holder, bank address and officer’s contact information, SWIFT Code, account coordinates, etc.) and must include explicit authorization for soft-probe (not necessary for oil transactions);


The Bank Comfort Letter (BCL) must be provided. A valid BCL must be issued in the Bank Letterhead, signed by two (2) bank officers, including full banking coordinates, and stating clearly that the Account Holder is Ready, Willing and Able (RWA) to undergo the transaction proposed (clearly identified including the product description, total volume and monthly volume transacted), and the total amount of the contract (clearly specified);


Note: some Sellers will agree with a RWA Letter from the Bank, which are frequently transmitted to the Seller’s Bank via SWIFT MT 799. Other generic letter terms, such as a simple referral letters indicating the good standing of the Account Holder in the banking institution, have no value as BCL. In case a RWA is presented, instead of BCL, the decision to send RWA bank to bank must be stated in the ICPO/LOI body text. The names, positions and contact information of the two (2) Bank officers signing the BCL/RWA must be clearly indicated;


The ICPO/LOI must be signed and stamped. The names and positions of the Company officers signing the LOI/ICPO must be clearly indicated. Otherwise, the document has no legal value;


The documents must be fresh (recent date – the most 3-5 days old max.);


VERY IMPORTANT , the letterhead of the Company requesting the commodity must correspond to the Bank Account Holder on the banking information provided.

These points will help you in verifying the legitimacy of the documentation provided. If your documents DO NOT PASS these verification points, please discuss them with your Buyers and get them corrected, immediately. This will save time in our process.


                                            L O I - Letter of Intent
                                   (This must be on Buyer's Letterhead)

Date : (Day, Month, Year)

To: Egypt Globe
LOI Reference No :

We (company name) hereby declare and confirm that we are ready, willing and able under the act of perjury and penalty to purchase the following commodity as specified below and certify that we have available full funding for the purchase :

NAME OF THE PRODUCT :
FULL SPECIFICATIONS OF THE SUBJECT PRODUCT :
Quantity : metric tons 
Destination Port : Indicate port
Contract Duration : 1 / 2 / 3 / 4 / 5 / 6 / 8 / 10 / 12 / 18 / 24 / 36 / 48 / 60 months.
Rate / Size of Shipment in metric tons per month.
Packing: (Bulk in Vessel or packed in Bags/Containers)
Rate of Discharge at Destination : metric tons per day.
Target Price: ... US$ / MT CIF / C&F /
Terms of Payment (Please specify the type of L/C payment you wish to offer):

BG, SL/C, FFDL/C, FFRL/C, RL/C, DL/C, Joint Venture, Reserved Funds, Confirmed, Irrevocable, Transferable or Non-Transferable, Divisible, 100% payable at sight, from one of 50 World prime Banks.
Performance Bond 2% max. from sellers:

Full Name of the Bank:
Full Address of the Bank:
Bank Telephone No: Bank Fax No :
Bank Account Holder or Name :
Bank Account No / IBAN :
Bank SWIFT / Sort Code / ABA No :

We understand that any and all contracts are subjects to seller's successful soft probe of buyer's account. We hereby give legal authority and grant the right and permission to seller to procure usual bank references and to conduct soft probe of our bank account.

Full Name of the Company:
Full Name of Signatory:
Position of Signatory (Registered CEO of the company):

Yours truly

Signed: ................................

Signed for and on behalf of Company rubber stamp:



                      I C P O - IRREVOCABLE CORPORATE PURCHASE ORDER
                                   (Submitted on Buyer's Letterhead)

Date: (Day, Month, and Year)

To: Egypt Globe 

ICPO Reference No:

We, (Company Name), acting with full corporate responsibility as the potential buyer hereby submit our formal Irrevocable Corporate Purchase Order to purchase the following goods.

By signing, we state with full legal responsibility that we are ready, willing and able to purchase the product / commodity as illustrated below and are the legal signatory with full corporate power to produce the acceptable banking instruments to activate a valid sales contract between ourselves and the supplier / exporter.

Name of the Product / Commodity (Manganese Ore, Used Rails, etc.):

Specifications (Attach separate page, if necessary):

Quantity: MT/Metric Tones. Packing: Bulk, Containers

Destination Port / Country:

Delivery: CIF (imput port of destination)

Rate / Size of Shipment (Optional):
Discharge Rate at Destination Port (Optional) : Tones Per Day.
Inspection: By SGS or equivalent at seller's expense.
Target Price: USD CIF-destination port per Metric Ton.
Payment Terms:
Performance Bond (PB 2%):

The following commercial banking institution will function as the Primary Bank of Record for this transaction:

Full Name of the Bank:
Full Address of the Bank (Address, City, Zip, Country) :
Phone No : / Fax No:
Bank Telex No: (Optional)
Bank SWIFT / Sort Code No :
Bank's Officer : (Name / Title)
Direct Phone No : Fax No :

Bank Account Holder or Name:
Bank Account No / IBAN:
Confirming Bank Coordinates:

Full Name of the Bank:

Full Address of the Bank (Address, City, Zip, and Country)
International Trade Department Phone No: / Fax No:
Bank's Officer (Name / Title):
Direct Phone No: / Fax No:

We understand that any and all offers and / or contracts are subject to successful seller verification of funds availability. We hereby give our written permission for the seller to seek usual bank reference and to conduct a soft probe of our account.

By signing, we understand all offers are subject to final agreement on the details of Commercial Invoice or other sales contracts.

Full Company Name :
Full Company Address (Address, City, Zip) :
State / Country :
Phone No : / Fax No :
E-mail : @
Web URL (Optional) :
Name of Signatory :
Title of Signatory (Registered CEO or Official Mandate of the Company) :
Dated (Day, Month, Year) :

Signature :

Company Stamp / Seal :



                                     B C L - BANK COMFORT LETTER
                                (Submitted on Buyer's Bank Letterhead)
                        (Including all details: Address, Phone, Fax, E-Mail, etc.)


Date: (Day, Month, Year)
To: Egypt Globe 

Dear Sirs,

This is to confirm that our mutual clients (namely) maintain a banking account with us and is in good standing with our bank.

At their instructions we, (full name of the bank), with full authority and mandate hereby confirm that the said client is ready, willing and financially able to initiate the process of purchasing of ... tons of ... (product name) for the price of USD ... / MT during the next ...months / years and for the total value of USD ... subject to the seller, completing the Sales & Purchase Contract.

We, (buyer's bank), confirm our ability to issue in due course and after the signing of the Purchase Contract, required ...Letter of Credit (...LC) on behalf of our client and for the benefit of the seller, with full assurance for the full amount of the contract.

We certify that our client named above has sufficient funds and / or have credit facilities with our bank to complete the proposed transaction within the time period outlined in the above referenced contract.

Our client hereby gives authority to the seller to procure usual banker's references from our bank officer ... whose direct phone number is...

Yours truly

signed by a senior level bank officer: Full name of the signatory: Designation of the signatory: Clients' Name as written in account: Account No / IBAN: Bank Telephone No: Bank's Fax No: Bank Swift / Sort-Code:
Bank stamp: