We have found it essential to require full details in LOIs without which we are unable to send FCO’s
1 All LOIs MUST contain company information, details of product required including quantities and destination port.
2. All LOIs must contain target price. Why? This allows us to determine validity of request as to buyers market experience.
3, All LOIs will be examined for suitability following which Proof of funds will be requested prior to us being able to formalize Offers.
Why? it is pointless us discussing proposed orders with suppliers without assuring suppliers the buyer has the funds to proceed. An enormous amount of time is required to put together quotes that make professional sense. Suppliers/processors and slaughterhouses have become increasingly frustrated by buyers not having funds to complete or agents simply looking for prices to go and hawk product.
