Why Coal Buyers or Coal Importers that mostly from overseas need Coal Trading company like us to import coal to their countries ?
The fact is mostly Coal Miners or IUP owners can only receive Cash Payment due to lack of operational capital and that is very risky for Coal Buyers.
Our company as Trading Company can accept Letter of Credit (LC) Payment with non PB from our Buyers.
LC we accept :
1. LC at Sight (MT 700)
2. Usance LC (MT 752)
Generally our price is much lower than Indonesian Coal Index (ICI) price and even much lower if Buyer can use Usance LC for payment.
Standard Procedures :
1. Buyer issue Letter of Intent (LOI) with LC Draft attached
2. Seller issue out a FCO with the full procedure
3. Buyer/Seller will send SPA to be signed by both parties
4. Buyer/Seller returns signed SPA
5. Seller issues an invitation for site inspection
6. Buyer open LC after Buyer or Buyer Representative make site inspection