ABSTRACT
In International trade Letter of Intent (LOI) actually stands for letter of indemnity and isn't relevant for intermediaries. FTN Exporting has given so called Proof of Product (POP), in the past on numerous occasions, which when FTN lost control of the deal and the hard-sourced supplier has resulted in no deal. Any Safe World Port (ASWP) is a term often used by misguided intermediaries when giving costs of goods with freight cost applied. If the Documentary Letter of Credit (DLC) is not confirmed, the Bill of Exchange (BOE) is presented to the issuing bank, which in turn checks the delivery documents and pays the suppliers bank before the exporter gets paid. The much-maligned Irrevocable Corporate Purchase Offer (ICPO) is arguably the most frequently misused document used by intermediaries on the internet today. Memorandum of Understanding (MOU) is often used in international investment or construction contracts and is not suitable for intermediaries.
