G.T.C. requires the
companies, which are interested in having business with G.T.C. to submit
full information about themselves by filling in the Questionnaire.
After assessing the replies, G.T.C. asks the capable companies to
provide us a Bid bond equal to
one percent of the total value of their offer. After concluding a contract, the
bid bond will be released and the seller will be asked to issue an
unconditional performance bank guarantee (U.P.B.G.)
equal to five percent of total value of the contract (In
case no contract is concluded, the bid bond will be released).
Up to now, the main origins for different commodities we have purchased are:
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Wheat: Canada, Australia,
EU, Argentina, Kazakhstan, East Europe & Russia. |
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Sugar: EU, Brazil, Cuba,
South Africa, Australia and Thailand. |
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Rice: Thailand, Vietnam,
Uruguay, Argentina, Pakistan and India. |
|
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Crude vegetable oil: Argentina and
Brazil. |
|
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Fertilizer: Jordan, Morocco,
Tunisia, Saudi Arabia, CIS and East European Countries. |
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Frozen Chicken: France and Brazil. |
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Baby milk powder: EU and Australia. |
G.T.C
basically considers the following conditions in its contracts:
1. G.T.C. requires that the seller issue
an unconditional bank guarantee(U.P.B.G.) within seven days after conclusion of
the contract. This U.P.B.G. should remain valid three months after completion
of shipment and be extensible for an additional three months(if required).After
that, if all the conditions of the contract were met, G.T.C. would
release the U.P.B.G..
2. G.T.C. appoints an inspection company at seller's account to
inspect the quality and quantity of the cargo. In addition G.T.C. has
the right to send its representatives to supervise the inspection and loading
process and to countersign the inspection documents.
3. G.T.C. will open an irrevocable, unconfirmed, non-transferable
letter of credit in seller's favor through the Central Bank of Islamic Republic
of Iran after receiving the U.P.B.G.
.