ITODA INTERNATIONAL  We work with clients from all BRAZIL-friendly countries and handle overseas orders of all sizes. Our end-to-end services allow commodities providers to manage their operations effectively and care for their customers with the products origin from Brazil.

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1. The buyer sends the letter of intent (LOI) with CIS on the buyer company letterhead.

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2. Seller releases the full corporate offer (FCO) to the buyer to accept, sign and return to the seller.

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3. The buyer issues an irrevocable corporate purchase order (ICPO) to the seller accompanied Proof of funds (POF) via BLC/RWA or sends MT799 to the seller’s bank.

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4. The seller releases the draft sales and purchase agreement (SPA) to the buyer to sign with company stamp and returns to the seller who also duly signs with company stamp and returns to the buyer with proforma invoice. The sales and purchase agreement (spa) shall be final and operative only when signed and stamped by the buyer and the seller.

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5. After confirmation of the financial instrument by the seller’s bank the seller issues Performance Bond (PB) for 2% of the face value of the financial Instrument.

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6. After confirmation of the financial instrument by the seller’s bank, the seller starts transporting the cargo to the loading port to load the chartered vessel within twenty (20) to twenty-five (25) days.

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7. At the port of loading S.G.S (société générale de surveillance) inspection report or equivalent shall complete inspections of the cargo. The parties irrevocably agree that S.G.S or equivalent are the official authorized inspection agency and their inspection reports are final under this contract. Buyer is invited to visit product inspection at the port of loading or send his own inspection. The buyer representatives can be present during SGS inspection.

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8. Upon completion of the inspection and loading, the seller will send a full set of shipping documents to the buyer to process the payment via telegraphic transfer (t/t to the seller’s bank within 72 hours. Seller upon receipt of the payment seller sends the original shipping documents to the buyer by international courier service for the customs clearance at the port of discharge.

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9. Validity period: The FCO presented herein holds a validity period of seven (7) days from the date of issuance. It is imperative that any acceptance or response is communicated within this timeframe.

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10. We also send to the person in charge of the deal or in behalf of the company the IMFPA Aggreement (irrevocable Master Fee Protection Agreement) used in foreign trade, mainly for the purchase of commodities or merchandise negotiated in bulk ( food,raw materials, minerals), whose objective is to protect the fee of the intermdiary (broker agent) than mediates in the transaction.The fee is only paid,either for the buyer or the seller or both,when the transaction is completed and is automatically transferred from the buyer´s or seller's bank account to the broker´s account. The fee is usually a commission in the form of percentage on the value of the merchandise purchased. The IMFPA Fee Protection Agreement is generally undertaken with other contracts such as the International Broker Agent Contract.

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11-Itoda International also operates as an official representative of various products and services. We carefully select the items to be represented, evaluating their viability and alignment with our market standards + IMFPA. After this assessment, we establish contractual representation agreements with fixed monthly fees or defined commissions. We act as strategic partners in the commercialization of commodities and diverse products for export, always aiming for solid and long-term business relationships. Our approach ensures professionalism, international reach, and a strong focus on results.

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Documents to be Exchanged Between A (Buyer) and B (Supplier) During the Commodity Purchase Procedure, Including LC, SBLC, and DCL, with Company Compliance Verification Prior to Contract Finalization

During the commodity transaction process, the following documents must be exchanged between Party A (the Buyer) and Party B (the Supplier). Additionally, a full compliance check of the company will be conducted prior to the signing of the final sales contract.

Documents Include:

1. Letter of Credit (LC)
   A Letter of Credit is a financial instrument issued by the buyer's bank, guaranteeing payment to the supplier upon the fulfillment of specified conditions (such as delivery of goods and proper documentation). It provides security for both parties in international trade.

2. Standby Letter of Credit (SBLC)
   A Standby Letter of Credit acts as a guarantee of payment in the event the buyer fails to fulfill contractual obligations. It is often used as a form of assurance or collateral, rather than a direct means of payment.

3. Documentary Collection Letter (DCL)
   A Documentary Collection Letter is a process where the seller entrusts the handling of commercial and financial documents to their bank, which forwards them to the buyer's bank with instructions for payment or acceptance. It is less secure than an LC but more flexible.

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Compliance Procedure:
Before proceeding with the execution of the sales and purchase agreement (SPA), a full KYC (Know Your Customer) and due diligence process will be carried out on the company and its representatives. This compliance procedure aims to verify the legitimacy, financial capability, and legal standing of the involved parties.

Only after successful completion of the compliance process and mutual agreement on terms will the contract be finalized and formalized.

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To all Gold (AU) Seller Mandates
Please be informed that we do not accept offers that do not comply with our standard procedures.
We do not move forward unless:

   1.    The seller provides a complete Proof of Product (POP) before requesting any of our personal or corporate information.

   2.    All procedures must be conducted Bank to Bank, with confirmation directly from the Depositary Bank, under full banking system responsibility. 

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We do not issue any LOI (Letter of Intent) under any circumstance, and we kindly request you not to insist.

If the seller is not aligned with these terms, we respectfully decline to proceed.

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