Originally Posted by totalbio
We are only selling the entire production of Jatropha Oil. The exclusive right of Agency belongs to us and will remain with us. Should you require any further details you will need to complete our Know Your Client information form. You will also at a later stage need to provide us with proof of your ability to raise and sustain an LC for up to USD$ 15M per month.
Regards
Gareth
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Hello Gareth,
I have said, I only issue you a L/C of 2M usd, not 15M usd. but I need your performance bond to certify that you have the supply. You don't have to give me the Performance Bond directly, all you have to do is to instruct your banker to prepare a Performance Bond of 150,000 usd (7.5% 0f 2 M usd) in my favor and your bank will inform me to issue you a L/C to you, my banker will send the L/C to your banker and then your banker will send me the Performance Bond. If you are not deliver the goods on the deadline agreed then your banker will pay the sum of Performance Bond to me.
Its all handle through bank, no cash, no t/t, no handling charges, THE WHOLE ENTIRE PROCEDURES ARE GETTING THROUGH YOUR BANK AND MY BANK.
On top, you claim that you have the entire right of marketing, selling. Can you tell exactly the location of the plantation??
Frankly speaking, you don't even know what is Performance Bond from what you have written. Check with bank to understand, you needn't to know your buyer if you have an L/C issued from a prime bank of buyer. The buyer need not to know the supplier if buyer have a Performance Bond provided by the supplier from a prime bank.