Your Trusted & Premier Source For All Your Sugar Needs
 

Frequently Asked Questions

1) How do I start the process of buying Sugar?

When requesting a quote, please include the ICUMSA number of sugar, your target price, the destination port and any special request

2) Do You Accept Non-Transferable L/C’s

Yes, for an additional fee.

3) What Is an ICPO?

ICPO – Irrevocable Corporate Purchase Order. This is a document drawn up by commercial Buyers, and contains the quantities and type of commodity required, and other conditions that the buyer would like the sale to proceed under. Once submitted to the Seller, this is deemed to be binding and the corporation is obliged to complete the sale.

4) Can I send an ICPO with different procedures?

No. We do not work to buyers procedures. Our procedures are not negotiable.

5) What is an LOI?

LOI – Letter of Intent
Letter of Intent is a document issued from the Buyer to the Seller which indicates that the Buyer would like to enter into negotiations with the Seller in the hope of purchasing commodity. The letter of intent is not legally binding, but it does provide a starting point for negotiations.

6) Performance Bond

The Seller hereby warrants and certifies that there will be a 2% Performance bond of the value of one month shipment, revolving month to month for the life of the contract.

7) Can I increase the percentage of the sellers Performance Bond?

No, 2% is the industry standard.

8 Do you provide Past Performance Documents?

No past performance documentation will be provided – whether un-sanitized or sanitized as these documents relate to our clients, and as such are confidential.  Any such documentation produced to prospective buyers is unethical.

9) What is the minimum order quantity ?

-12,500 MT for Icumsa 45 & 600-1200
-1,000 MT for Beet Sugar of EU origin

10) What is a BCL?

BCL – Bank Comfort Letter. Also known as a Bank Capability Letter, or Bank Confirmation Letter, this is a letter from the Buyer’s bank confirming his ability to meet a certain level payment requirements. This letter states that the Buyer has sufficient funds to cover the cost of the order. It should however be understood that this does not imply any guarantee of payment.

11) It the supply of your sugar guaranteed?

Yes! We don’t oversell our allocations and having access to the sugar of several END-SELLERS in the group, hence we are guaranteed a steady supply of sugar.

12) Do you pay commission to Agents?

Yes! The high quality, hard working agents & brokers are the engine driving our business.

13) Can I get samples sent to me or my buyer?

No, the specifications are sufficient.

14) POP before POF?

No, The buyer has to follow the procedures.  Once the soft probe on the buyer has been completed, the seller will issue a full Full Corporate Offer (FCO) to the buyer.

15) Can I send an LOI instead of an ICPO?

Only if the LOI includes a soft probe.

16) What is a Soft Probe?

This is an authorization from the buyer to the seller to contact the buyer’s bank to verify the buyer has the financial capability to purchase the amount of sugar and the method of payment agreed in the (LOI) Letter of Intent.

17) Can I get a Letters of Credit from any bank?

No, All L/C’s must be issued from one of the top 25 banks in the world.  The below is a list of qualified banks.
http://www.bankersalmanac.com/addcon/infobank/bank-rankings.aspx

18) ICUMSA definition

International Commission for Uniform Methods of Sugar Analysis) is a world-wide body which brings together the activities of the National Committees for Sugar Analysis in more than thirty member countries.  For more information visit their website.www.icumsa.org

19) What types of Sugar do you Sell?

a) White Refined Brazilian Cane Sugar Icumsa 45
b) Raw Brown Cane Sugar Icumsa 600-1200
c) Beet Sugar EU Origin