Grow your business globally with New Era Commodities.

• Define your demand [ product type, total quantity, port of destination, target price]
• Check if your company is ready to issue a financial instrument [SBLC, BG, or LC] through one of the 100 largest banks in the world
• Request a quote

Summary of Procedures:

1.  BUYER sends LOI (Letter of Intent)

2.  Seller issues FCO (Full Corporate Offer) 

3.  Buyer issues ICPO (Irrevocable Corporate Purchase Order) complete with information about the issuing or confirming bank. Buyer sends BCL and drafts SBLC, BG, or LC for approval by Seller's bank or Seller's financial sector.  It is essential that it is a TOP 100 bank. We only accept a full ICPO from the recipient of the purchaser, on PDF letterhead, with complete banking and business information of the purchasing company (all information will be verified).

>>> The Purchaser’s ICPO together with the BCL and Draft Financial Instrument will be sent to the financier responsible for the operation to carry out Compliance. After approval by the Seller, the procedure continues as follows:

4.  Seller issues draft Sales and Purchase Agreement (SPA).

5.  The buyer returns the SPA with any redlines, once both sides approve of the contract, the seller will issue the SPA to buyer via DocuSign or other electronic signature request method.

6.  The seller issues a Commercial Invoice.

7.  The buyer returns the stamped and signed Commercial Invoice.

8. The buyer’s bank issues SBLC, BG or LC (MT700/760) as a guarantee for one month and sends it to the seller’s bank within 15 working days. The bank instrument must be revolving, transferable, irrevocable, divisible, operational, renewable and confirmed by a top 100 bank, with Payment via MT103 upon presentation of the (shipping documents + BOL + SGS) by the seller at the port of origin or as agreed with the buyer.

9.  Within 12 banking days after receipt of the bank instrument, the seller’s bank sends to the buyer’s bank a Performance Bond (PB) of 2%. We will issue Proof of Product (POP) within 21 days (about 3 weeks) against  any accepted method of payment.

10.  The buyer will receive an invitation letter to accompany the shipment at the port if necessary.

11.  In 35/45 days (about 1 and a half months), the ship will be loaded, and the port departure can be anticipated.

12.  Payment against the BOL and SGS shipping documents, as per item 8.

13.  We do not send BOL or other shipping inspection certificates from previous customers for someone to review (Data Protection Act). No past performance.

14.  We do not ship physical samples, without exception.

15.  We do not upload photos or videos to avoid disturbing our suppliers’ privacy and identity.

• New Era Industries, Inc. dba New Era Commodities is a GACC-certified entity
• All new customers must deposit 30% upon signing SPA
• We do not accept Letters of Credit for products exported to China or Hong Kong without initial deposit.
• SOP may vary slightly depending on product and destination
• Payments with transferable SBLC/DLC  only the top 100 banks are accepted. 
• The buyer's bank must have RMA with Bank of America or Wells Fargo and must be a top 100 bank. 
• Maximum monthly sale quantities -100,000 MT/month, exceptional cases over 100,000 MT/month. 
• MOQ (minimum order quantity) 12.500 MT/month on grains, sugar, flour, beans, etc.
• Payments for orders are only accepted at the port of loading, under no circumstances will payments at the port of destination be accepted.