We are a reference in the international market.
- UNITED ARAB EMIRATES
- UNITED STATES OF AMERICA
In today’s global economy, companies must adapt to the constantly evolving landscape of international trade. To succeed, it is crucial to have a partner who understands the intricacies of each market and can navigate the complexities of cross-border transactions. This is where LAKAY BUSINESS comes in, as a multinational company with a strong presence in the USA, Ecuador, Brazil, and the UAE.
One of the main advantages of working with a multinational company is the access to a wider pool of resources and expertise. With offices in multiple countries, LAKAY BUSINESS can leverage its diverse network of partners and suppliers to provide a comprehensive range of products and services. This means that our clients can benefit from a vast array of options and competitive pricing, which helps to boost their business’s bottom line.
Another benefit of working with a multinational company like LAKAY BUSINESS is the ability to tap into local knowledge and cultural insights. Every market is unique, with its own set of rules, regulations, and business practices. By having a local presence, LAKAY BUSINESS can provide our clients with the in-depth knowledge they need to successfully navigate the local landscape. We understand the local nuances and cultural differences that can make or break a business deal. This allows us to tailor our services to each client’s specific needs, which helps to ensure success.
In addition to local expertise, LAKAY BUSINESS has a wealth of experience in international trade. We have a deep understanding of the complexities of cross-border transactions, from navigating customs and tariffs to complying with local regulations. Our team of experts can provide guidance and support at every step of the process, from product sourcing to logistics and delivery. This expertise can help our clients to avoid costly mistakes and delays, which can impact their business’s profitability.
One of the most important benefits of working with LAKAY BUSINESS is the peace of mind that comes from working with a reputable company. With a strong track record of success, our clients can trust us to deliver on our promises. We take pride in our commitment to ethical business practices and transparency in all our dealings. Our clients can rest assured that they are working with a company that values integrity and honesty.
TRADING PROCEDURES OF LAKAY BUSINESS
Commodities Trading Procedure goes through interest, order analysis, purchase of goods, and the method of payment, it is essential to know our procedure. Remember that the entire process is not limited as shown below. However, this is the reference.
1. Once the offer is accepted after sending the letter of intent, the buyer returns with an ICPO( Irrevocable Corporate Purchase Order ), and Proof of Funds, such as a BCL( Bank Confirmation Letter ) with all bank coordinates;
2. Seller sends the FCO( Full Corporate Offer ), while we issue the draft of SPA( Sales & Purchase Agreement );
3. Buyer returns signed and stamped FCO;
4. Seller sends the Sales & Purchase Agreement to review;
5. Buyer returns draft of signed, stamped, and scanned Agreement by e-mail and will be considered legal and official Sales & Purchase Agreement until copies are exchanged;
6. After this, we will send the Proforma Invoice for the buyer to sign, stamp, and return, based on SPA;
7. After SPA validation by Seller’s bank, the buyer can assign a due diligence agent to inspect contracted goods at the loading port, or require some other Proof of Products other than the one provided by Seller;
8. Buyer opens a 100% Irrevocable, Transferable Letter of Credit with Seller as the Beneficiary;
9. Seller provides Proof of Product;
10. Seller’s Financial Institution reviews and confirms acceptance of Letter of Credit;
11. Seller starts arrangements for the shipment and sends all original shipping documents to the Buyer’s bank evidencing that freight is on board and the vessel has sailed to the destination. Copy of documents to be sent to the Buyer via e-mail;
12. Buyer’s Bank pays integrally Seller after Shipping Documents validation.
For more information about our trading procedure please contact us.