What Documentation Will Be Needed To Obtain A Firm Corporate Offer?
Several items of documentation will be required in order to successfully negotiate a shipment of sugar. The soft quote is the first piece of documentation the buyer will receive. If the terms of the soft quote are agreeable, then the buyer will be required to sign a NCND (Non Circumvention, Non Disclosure agreement). This document provides necessary protection to both the buyer and seller as they move forward in the trading process. A Letter of Intent (or Irrevocable Corporate Purchase Order – ICPO) is the first piece of documentation required from the buyer, and it should be accompanied by a Bank Comfort Letter – BCL. When these documents have been received and verified, a Firm Corporate Offer (FCO) will be issued to the buyer.
