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SUGAR TRANSACTION PROCEDURES


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COMMODITIES SALES PROCEDURE 2025

  1. BUYER ISSUES IRREVOCABLE CORPORATE PURCHASE ORDER (ICPO) OR LETTER
    OF INTENT (LOI) WITH FULL BANKING DETAILS, BUYER’S COMPANY
    REGISTRATION AND PASSPORT COPY OF THE BUYER’S COMPANY OFFICER.
  2. AFTER THE SELLER PRELIMINARY DUE DILIGENCE AND ACCEPTANCE OF THE
    (ICPO) OR (LOI) THEN BUYER WILL EMAIL THE SELLER THE PROOF OF FUNDS
    (POF) BANK ACCOUNT BALANCE STATING THE BALANCE TO BE EMAILED FROM
    THE CLIENT’S BANK OFFICER TO THE CLIENT’S EMAIL, THEN BUYER SHALL
    FORWARD TO SELLER / SELLER’S MANDATE’S EMAIL, TO PROVE THE FINANCIAL
    READINESS FOR THE TRANSACTION.
  3. THEN SELLER ISSUES FULL CORPORATE OFFER (FCO), BUYER SHALL SIGN IT AND
    RETURN BACK TO SELLER.
  4. SELLER SHALL SEND BY EMAIL THE FULL CIS WITH THE (POF – RWA SWIFT
    MT799) DRAFT.
  5. BUYER’S BANK SHALL SEND POF – RWA SWIFT MT799 (BANK TO BANK) AS A
    SWIFT PROOF OF FUNDS.
  6. AFTER THE SELLER ACCEPTS THE POF – RWA SWIFT MT799, SELLER WILL ISSUE
    THE DRAFT SALES AND PURCHASE AGREEMENT (SPA) WITH (PPOP) INCLUDING
    (SBLC/MT760 VERBIAGE DRAFT).
  7. BUYER RETURNS THE SIGNED (SPA) WITH THE (SBLC/MT760 VERBIAGE DRAFT)
    TO SELLER.
  8. SELLER SHALL VERIFY AND IF ACCEPTED SHALL SIGN THE SPA AND RETURN TO
    BUYER.
  9. WITHIN (7) SEVEN BANKING DAYS UPON SIGNING THE SALES AND PURCHASE
    AGREEMENT (SPA), BUYER BANK ISSUES IRREVOCABLE, CONFIRMED,
    TRANSFERABLE, OPERATIVE, FULL CASH BACKED SBLC/MT760.
  10. UPON CONFIRMATION OF RECEIPT OF THE MT760 BY SELLER BANK, THEN
    SELLER WILL REPLY WITHIN 15 DAYS (PB 2%), AND PACKAGING, LOADING AND
    SHIPPING PROCEDURES COMMENCE.
    ● SBLC/MT760 TO BE ISSUED DIRECTLY FROM TOP 25 BANKS IN THE WORLD,
    WITHOUT ANY CORRESPONDING BANKS IN BETWEEN.
    ● NOTE: DIRECT BANKING COMMUNICATIONS BETWEEN BANK OFFICERS IS A
    MUST.
    ● BUYER OBLIGATED TO PROVIDE HIS TWO BANK OFFICERS BUSINESS CARDS,
    (MT799 PRE-ADVICE) (BANK TO BANK), AND BANK INSTRUMENT HARD COPY
    THROUGH BONDED CARRIER (BANK TO BANK).
    ● ALL SWIFTS VERBIAGE MUST BE ACCEPTED BY THE SELLER’S BANK, BEFORE
    BUYER’S BANK ISSUES IT.
    ● WITHIN 35 – 45 BUSINESS DAYS AFTER SBLC/MT760 FULL CONFIRMATION,
    SHIPMENT COMMENCES ACCORDING TO THE DELIVERY SCHEDULE.
    ● DOCUMENTS RELATED TO PAST AND EXISTING CLIENTS AND
    MANUFACTURERS OF THE SELLER, ALL OF WHICH ARE CONFIDENTIAL
    DOCUMENTS, CANNOT BE DIVULGED TO THIRD PARTIES.

    BRAZILIAN SUGAR ICUMSA 45 SPECIFICATIONS:
    AS BELOW OR AS INTERNATIONAL STANDARDS
    ❖ PRODUCT: ICUMSA 45 SUGAR SPECIFICATIONS
    ❖ POLARITY AT 20ºC: 99.80º MINIMUM
    ❖ SULPHATED ASH CONTENT: 0.04% MAXIMUM BY WEIGHT
    ❖ MOISTURE: 0.04% MAXIMUM BY WEIGHT
    ❖ MAGNETIC PARTICLES: MG/KG 4
    ❖ SOLUBILITY: 100% DRY & FREE FLOWING
    ❖ GRANULOMETRY: FINE STANDARD
    ❖ ICUMSA: COLOR 45 ICUMSA ATTENUATION INDEX UNITS (METHOD #10-1978)
    ❖ MAXIMUM AS: 1 P.P.M.
    ❖ COLOR: BRILLIANT WHITE
    ❖ REDUCING SUGAR: 0.010% MAXIMUM IN DRY MASS
    ❖ RADIATION: NORMAL W/O PRESENCE OF CESIUM OR IODINE SO2: MG/KG 20 HEAVY METALS, TOXIC
    ELEMENTS MAX MG / KG BASIS
    ❖ ARSENIC 0.50 CADMIUM 0.05 COPPER 1.00
    ❖ LEAD 1.00 MERCURY 0.01 ZINC 3.00
    ❖ PESTICIDE TRACES MAXIMUM MG / KG BASIS
    ❖ DDT 0.005 PHOTOXIN 0.01 HEXACHLORAN GAMMA ISOMER 0.005 MICROBIOLOGICAL LIMITS
    ❖ PATHOGENIC BACTERIA INCLUDING SALMONELLA PER 25 GRAM: NIL. BACILLUS PER GRAM: NIL
    ❖ MAXIMUM PS: 0.5 P.P.M.
    ❖ MAXIMUM CU: 2 P.P.M.
    ❖ SUBSTANCE: SOLID CRYSTAL
    ❖ POISONOUS: PHYTOSANITARY CERTIFICATE OF NO RADIATION, NO VIRUS, NO INSECT PARTS, NO
    POISONOUS MATTER AND NON-GENETIC, FIT FOR HUMAN CONSUMPTION
    ❖ CROP: LATEST
    ❖ CERTIFIED PHYTOSANITARY CERTIFICATE OF NO RADIATION, NO VIRUS, NO INSECT PARTS, HUSKS,
    NO POISONOUS MATTER AND NON-GENETIC AND IS SUITABLE FOR HUMAN CONSUMPTION
    ❖ CROP SUGAR SHOULD BE EXTRACTED FROM SOUND, UNFERMENTED AND UNDECAYED SUGAR CANE
  • SUGAR SHOULD BE CLEAN FREE FROM ANY FOREIGN MATTER, TASTE OR ODOR AND HAVE THE
    SWEET TASTE CHARACTERISTIC OF WHITE SUGAR WHETHER DRY OR IN SOLUTION.
    THE END.

COMPLETE LETTER OF INTENT BELOW AND WE WILL BE GLAD TO HELP

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LOI ISSUED TO: Harris International Group LLC


Conducting sugar transactions using cryptocurrency can enhance security, reduce transaction times, and streamline international payments. Below are detailed procedures for carrying out sugar transactions using cryptocurrency.

Sugar Transaction Procedures Using Cryptocurrency

Pre-Transaction Preparation

  1. KYC and Due Diligence:
  • Both buyer and seller must complete Know Your Customer (KYC) procedures.
  • Conduct due diligence to verify the legitimacy and financial stability of the counterparty.
  1. Contract Agreement:
  • Draft a detailed contract specifying the quantity, quality, price, delivery terms, and payment terms.
  • Include clauses for dispute resolution, force majeure, and penalties for non-compliance.
  1. Cryptocurrency Wallet Setup:
  • Ensure both parties have secure cryptocurrency wallets capable of handling the agreed cryptocurrency (e.g., USDT, BTC, ETH).
  • Confirm wallet addresses and perform a small test transaction to verify the setup.

Transaction Procedures

  1. Issuance of Purchase Order (PO):
  • The buyer issues an Irrevocable Corporate Purchase Order specifying the quantity (e.g., 12,500 MT), quality (e.g., ICUMSA rating), delivery schedule, and total price in the chosen cryptocurrency.
  • The seller reviews and confirms the ICPO.
  1. Escrow Agreement (Optional):
  • To enhance security, both parties may agree to use a third-party escrow service.
  • The buyer transfers the agreed cryptocurrency amount to the escrow account, which releases funds upon confirmation of delivery.
  1. Payment Terms and Schedule:
  • Define the payment terms in the contract, such as a percentage upfront and the remainder upon delivery.
  • For spot contracts, full payment may be required before shipment.
  1. Logistics and Delivery:
  • Arrange transportation and logistics as per the agreed Incoterms (e.g., FOB, CIF, DAP).
  • The seller provides shipping documents, such as the Bill of Lading, Certificate of Origin, and Quality Certificate.
  1. Quality Inspection:
  • An independent third-party inspector verifies the quality and quantity of the sugar upon loading or arrival.
  • The inspection report is shared with both parties.
  1. Cryptocurrency Payment Execution:
  • For Upfront Payment: The buyer transfers the upfront payment in the chosen cryptocurrency to the seller’s wallet or the escrow account upon signing the contract.
  • For Final Payment: Upon confirmation of delivery and inspection, the buyer transfers the remaining cryptocurrency to the seller’s wallet.
  • If using escrow, the escrow service releases the funds to the seller upon receiving confirmation of delivery and inspection.
  1. Confirmation and Documentation:
  • The seller acknowledges receipt of the cryptocurrency and issues a payment receipt.
  • Both parties update their records with transaction details and retain copies of all relevant documents.

Post-Transaction Procedures

  1. Feedback and Review:
  • Both parties provide feedback on the transaction process to improve future dealings.
  • Address any issues or disputes according to the contract’s dispute resolution clause.
  1. Compliance and Reporting:
  • Ensure compliance with all relevant financial and regulatory reporting requirements.
  • Maintain records for auditing and tax purposes.
  1. Future Contracts:
  • Based on the success of the transaction, consider establishing long-term relationships and negotiating future contracts.

Example of a Sugar Transaction Using Cryptocurrency

  1. Agreement: Buyer and seller agree on a contract for 12,500 MT of sugar, with a total price of $10,000,000 in USDT (or another agreed cryptocurrency).
  2. PO Issuance: Buyer issues a PO, and both parties sign the contract.
  3. Upfront Payment: Buyer transfers $5,000,000 USDT to the seller’s wallet or escrow account.
  4. Delivery: Seller arranges shipment and provides necessary documents. An inspection is conducted upon delivery.
  5. Final Payment: Upon successful delivery and inspection, the buyer transfers the remaining $5,000,000 USDT to the seller’s wallet or the escrow account releases funds.
  6. Acknowledgment: Seller acknowledges receipt of full payment, and both parties update their records.

By following these procedures, sugar transactions using cryptocurrency can be conducted securely and efficiently, leveraging the benefits of digital currencies while ensuring compliance with traditional trade practices

Harris International Group
Gregory A Harris CEO
Contact@hig-consortium.com