The procedure of each freight entrustment starts
by sending the relevant tender to receive the offers from the companies who are
interested in taking part in the tendered case. These companies have already
submitted the bid bond (B.B.) equal to U.S.D 30000 to be registered and have to
submit an unconditional performance bond guarantee (U.P.B.G ) equal to ten
percent of the total contract amount , if the contract is concluded . After
concluding the contract and issuing the U.P.B.G., it’s the Issuer option to ask
the B.B. to be released. Then the received offers which are not the final
figures will be tabulated and taken up with the purchase committee members to
approach the rock bottom through an open negotiation with the participants in
the presence of the members. This procedure will be followed by establishing an
irrevocable, unconfirmed, non - transferable letter of credit in carrier’s
favor by Iranian banks mostly central bank of Iran.