U.S. Grain Basic Requirements
Buyers intend to purchase US wheat or grain and in order to give consideration for their inquiries, buyers have to fulfill the following basic requirements:
- A prime financial reference, preferably a major US or Western bank. Please include the name and phone number of the financial officer to whom the exporter should direct questions.
- Statement from the buying principal that your contact in USA (LTTCO ) is the sole and exclusive agent of the business.
- Statement from the buying principal that the exporter will not be held liable for brokerages, finders fees, commissions, etc...
- Statement of destination of cargo.
- Full details of the inquiry, including, but not limited to the following (Letter of Intent - LOI):
- Commodity type
- Quality: such as dockage level (max), test weight, moisture, fumigation (if required), failing number minimum,
protein, sprout damage, other.
- Quantity: including tolerance
- Shipment period
- Price: stated bid for the commodity
- Delivery basis: (FOB / FOB S&T / FOB ST SF), to suit self trimming bulk carrier
- Vessel size
- Vessel load guarantee
- Vessel demurrage / dispatch rate as per charter party but indicate maximum
- Loading range port or ports
- Number of allowable berths
- Phytosanitary certificate requirements
- Mycotoxin requirements
- Proposed method of payment. Attach a copy of the letter of credit, if that is proposed payment method.
- Contract terms to govern; i.e. North America Export Grain Association (NAEGA), GAFTA, etc..
- Commodity type
- A brief company history, including the names and addresses of officers.
- Grain Exporters may require additional information prior to doing business.