Rail Purchase Procedure
← BackLOI
Buyer Send LOI for purchase of Rail , Insert all details , Qty. ,Destination Port , Multiple or Single port and Qty. , Shipment Starting Date , Price Expectation,
FCO
RoyalMac will Send FCO/SEO to buyer with all procedure , terms and conditions.
FCO Sign
The Buyer shall Counter signed and stamp the FCO/SCO and sent it back to RoyalMac through official company Email.
FCO -Bank
The buyer will present the SCO/FCO to the buyer's bank, and the bank will provide a BCL (Bank Comfort Letter) in accordance with FCO/SEO for further processing.
BCL
The BCL (Bank Comfort Letter) will culminate in the signing of a SPA (Sale Purchase Agreement) by both parties.
P. Invoice
RoyalMac will issue a Performa Invoice , buyer will provide to the bank, and the bank will generate a DLC (Draft Letter of Credit) for the POP ( Proof of Product ).
DLC
DLC (Draft LC) will be provided by the buyer bank to facilitate POP (Proof of Product).
POP
RoyalMac will provide the POP under its own name. The buyer can only see the POP that was encrypted with a password. The password will be provided to the end buyer or buyer's bank via RM Email. The buyer is not able to hand over the POP to any outsiders. They also don't use it for anything else.It is a violation of the penalty.
C. Invoice
RoyalMac will issue a commercial invoice. End buyer shall issue irrevocable and Revolving LC MT700, MT760.
LC MT700
Buyer shall issue irrevocable and Revolving LC MT700, MT760.
PB
Buyer Bank will obtain a PB of 2% to 12% (Performance Bond) from RoyalMac's Bank in exchange for Buyer LC.
POP
RoyalMac will provide the POP in the buyer's name after LC MT700, The buyer can only see the POP that was encrypted with a password. The password will be provided to the end buyer or buyer's bank.
Invitation
RoyalMac will give you an invitation to visit the yard , stock, or production as per your request. Only the Buyer’s authorized person
Loading /Shipping
Loading and shipment will start in 15 days.
Documents
RoyalMac will provide the following documents to the buyer: Bill of Lading, Customs Documents , LabTest Certificate, Commodity Ownership Certificate, etc.
