PROCEDURE FOR GENERAL CONSUMPTION(SELLING TO DTC AND/OR ITS AFFILIATES)
1) Seller submits unsanitized Full Corporate Offer to DTC. This document must be issued by the owner of the allocation and/or their legal representative.
2) If deemed acceptable, there are three options that may be executed. a) DTC, will issue a Letter of Intent accepting said proposal; or b) DTC will issue an LOI on behalf of its client; or c) DTC will have its client issue an LOI directly to the Seller. NOTE: The above will depend on many factors
3) Seller submits Sales Purchase Agreement (SPA) to DTC.
4) DTC reviews SPA identifying any amendments required. SPA is sent back to Seller for final approval.
5) If the Seller accepts the changes, the SPA must first be signed by the Seller and then sent back to DTC for the respective countersignature.
6) Six hard copies of the SPA are prepared by the Seller and couriered to DTC via DHL. Upon receipt, the principal parties lodge the Spa’s in their respective banks and confirm the latter to each other in writing.
7) Upon receipt of said written confirmation from DTC, the Seller must within 72 hours execute the following: a) Issue Full Proof of Product information to the respective Buyer's account via SWIFT; or b) Forward by Hardcopy courier Full Proof of Product information to the Buyer's designated Bank Officer stipulated on the SPA.
8) Upon verification of the POP, BUYER will issue Non Operative DLC or any agreed payment instrument.
9) Upon receipt of the Buyer’s Non Operative DLC, the Seller will issue a Non Operative Performance Bond for 2%. The latter will either activate the Buyer’s DLC which in turn will activate the Seller's Performance Bond, or it will be immediately followed by a Fully Operative DLC which will make the Seller's Performance Bond Fully Operative.
10) Delivery commences
THERE WILL BE SLIGHT DEVIATIONS IN THE PROCEDURE
DEPENDING ON THE CONTEXT OF THE SPA BEING FOB OR CIF
