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• 06Monthly Export Report
• 07Tender
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Cotton Marketing

 

  A/   MARKETING POLICY :

A STRICT ADHERENCE TO THE FOLLOWING PRINCIPLES IS MAINTAINED IN ORDER TO SECURE FAIR AND EQUITABLE TREATMENT TO ALL DEALERS IN SUDAN COTTON :-

1-     ADOPTION OF TENDER SYSTEM AS MAIN METHOD OF SALE , BEING THE MOST FLEXIBLE AND FAIR SYSTEM .

2-  COMPLETE RESTRICTION OF ALL FORMS OF PREFERENTIAL TREATMENT OR ANY  OTHER TRANSACTION THAT MAY AFFECT THE PRINCIPLES OF EQUAL TREATMENT AND FAIR COMPETITIVENESS.

3-     EFFICIENT AND TIMELY EXECUTION OF CONTRACTS AT THE BEST SATISFACTION OF BUYERS.

 

   B/  METHOD OF PAYMENT :

 

EITHER :

1) BY SIGHT  IRREVOCABLE CONFIRMED L/C TO BE OPENED WITH     FIRST CLASS  INTERNATIONAL BANK WITHIN 15 ( FIFTEEN DAYS FROM THE DATE OF CONFIRMATION OF BUSINESS ) .

 

OR :

 

2) BY SIGHT IRREVOCABLE L/C TO BE OPENED WITH FIRST CLASS INTERNATIONAL BANK AT TIME OF SHIPMENT OR ONE MONTH BEFORE THE CUT-OFF DATE STIPULATED IN THE RELATIVE TENDER AND/OR CONTRACT . IN THIS CASE THE BUYER HAS TO PAY A DEPOSIT OF 15 ( FIFTEEN ) US DOLLARS PER BALE WITHIN 10 DAYS FROM THE DATE OF CONFIRMATION OF SALE .

IN BOTH CASES THE L/C SHOULD BE PAYABLE AT TIME OF SHIPMENT AGAINST SHIPPING  DOCUMENTS OR LATEST AT CUT-OFF DATE AGAINST WAREHOUSE CERTIFICATES AND/OR DELIVERY ORDERS AND PROVISIONAL INVOICES . THE L/C SHOULD REMAIN VALID UPTO ONE MONTH AFTER CUT-OFF DATE .       

IN CASE OF BUYER’S FAILURE TO OPEN THE L/C WITHIN THE SPECIFIED PERIOD , SELLER WILL HAVE THE RIGHT TO CANCEL THE DEAL/DEALS WITHOUT RECOURSE TO THE BUYERS AND THE SELLER RESERVES THE RIGHT TO CLAIM COMPENSATION FOR ANY CONSEQUENT LOSSES AND/OR DAMAGES INCURRED .

 

   C\   STORAGE FEES:

 

FOR ALL COTTON PAID FOR AND REMAINING UNSHIPPED AFTER CUT-OFF DATES STORAGE FEE AT THE RATE OF  ½% ( ONE HALF OF ONE PERCENT ) PER MONTH PRORATA WILL BE LEVIED AS FROM FIRST DAY AFTER CUT-OFF DATE TILL DATE OF SHIPMENT. INSURANCE FOR COTTON REMAINING  UNSHIPPED AFTER CUT-OFF DATE  SHOULD BE ARRANGED BY BUYERS.

 

   D/  SECURITY BOND:

THE S.C.C.L. DIRECTOR GENERAL HAS THE FULL RIGHT TO IMPOSE ON SUCCESSFUL BIDDERS WHENEVER NEEDED , SECURITY BOND AGAINST THE RISK OF BUYER’S CONDUCT. THE SECURITY BOND SHOULD BE IN THE FORM OF SWIFT TRANSFER (S.T) .