Cotton Marketing

 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 transactions that may affect the principle of equal treatment and fair competitiveness.

3. Efficient and timely execution of contracts to the best satisfaction of buyers.

              Method of Payment: 

EITHER :

A)   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:

B) 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 20 ( TWENTY ) SWISS FRANCS 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.

 

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. 

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).