Terms of Cooperation
Ingretrade Partnership Basics
COOPERATION PRINCIPLES
Valuing Collaboration in Partnership
At the core of our business philosophy are key principles that guide our collaborations and ensure mutual success. We believe in maintaining transparency, reliability, and flexibility in every partnership. Below, we outline our fundamental cooperation principles that define our approach and commitment to our clients.
Competitive Pricing
Our prices are always competitive, ensuring value for our clients in any market.
Reliable Manufacturing Partnerships
We work with large, trusted manufacturers, guaranteeing timely deliveries and consistent quality standards.
Quality Assurance and Contract Fulfillment
We take full responsibility for the quality of our products and strictly adhere to our contractual obligations. To ensure the highest standards, we collaborate with globally recognized inspection and certification companies, such as SGS and Bureau Veritas. These trusted partners help verify product quality, compliance, and safety, providing our clients with the assurance that all shipments meet the required specifications and industry standards.
Market-Dependent Pricing
Prices fluctuate based on market conditions. Each shipment is negotiated individually and fixed in the contract to secure both price and delivery terms.
Flexible Payment Options
- Option 1: 20% prepayment (secured by a seller’s bank payment guarantee), with 80% due upon shipment (against shipping documents).
- Option 2: Letter of Credit or another suitable financial instrument.
Trader-Friendly Terms
We offer mutually beneficial conditions tailored for traders, ensuring a smooth and profitable partnership.
ORDERING PROCESS
Step-by-Step Guide to Ordering Ingredients
At Ingretrade, we strive to make your ingredient ordering experience as seamless as possible. Our step-by-step guide outlines the process, ensuring that you understand every stage from initial request to final delivery. Whether you prefer to submit a request form or select products directly from our Store page, we are here to assist you at every step.
01
Request / Enquiry Submission
The buyer has two options for placing an order: they can either download, complete, and submit a request form below or browse the Store page, select the desired products, and submit an enquiry for those items.
02
Initial Arrangements
We coordinate with the manufacturer and logistics company. Based on the outcomes, we prepare a Soft Commercial Offer within 2-3 business days.
03
Terms Negotiation
We negotiate the fundamental terms of partnership via corporate email, covering product details, quality, pricing, delivery terms, payment methods, and more.
04
Contract Signing
A formal contract is signed to establish the agreed-upon terms and conditions for the transaction.
05
Payment Processing
Payment is made according to the contract terms, which may include prepayment, partial prepayment, or a Letter of Credit.
06
Order Shipment
The shipment is carried out in accordance with the contract terms to ensure timely delivery.
07
Shipping Documentation
Shipping documents, such as CMR and/or Bill of Lading, are sent to the bank to facilitate the release of the Letter of Credit or to the buyer for the final 80% payment.
08
Ingredients Delivery
The ingredients are delivered to the buyer as stipulated in the contract, completing the order process.
How Letter of Credit Works
A Letter of Credit (LC) is a financial instrument issued by a bank that guarantees payment to a seller on behalf of a buyer. It serves as a secure method of payment in international trade, providing assurance to both parties involved in a transaction. Here’s how it works:
- Application: The buyer applies for a Letter of Credit through their bank, specifying the details of the transaction, including the amount, terms, and conditions.
- Issuance: The bank reviews the application and, if approved, issues the Letter of Credit to the seller’s bank. This document outlines the bank’s commitment to pay the seller upon fulfilling the specified conditions.
- Notification: The seller’s bank receives the Letter of Credit and notifies the seller. This gives the seller confidence that payment is secured, provided they meet the terms outlined in the LC.
- Shipment of Goods: The seller prepares and ships the goods, ensuring they comply with the conditions set forth in the Letter of Credit. This often includes providing specific documentation, such as invoices and shipping receipts.
- Document Submission: Once the goods are shipped, the seller submits the required documents to their bank, demonstrating compliance with the terms of the Letter of Credit.
- Payment: The seller’s bank reviews the documents. If everything is in order, the bank forwards the documents to the buyer’s bank, which then processes the payment to the seller’s bank. The buyer’s bank charges the buyer’s account accordingly.
- Completion: Once payment is made, the seller receives the funds, and the buyer obtains the necessary documents to claim the shipped goods.
By utilizing a Letter of Credit, both buyers and sellers can mitigate risks associated with international trade, ensuring that transactions are conducted smoothly and securely. It builds trust between parties and provides a structured process for payment and delivery.
Let’s Connect
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