Afaq Trading Company Limited


Who are we  ?
We are Afaq  company  working in the field of financial brokerage, where we arrange transactions related to the transaction between the seller and the buyer and get a financial commission agreed upon in advance and the broker gets the commission from the buyer or the seller or both at the conclusion of the transaction According to the agreement between them

Legal Responsibilities

1- The commercial broker does not guarantee the parties to the contract which it mediates.

2 – The commercial broker is not responsible for paying the price, wages or delivery of the sale, unless it includes the brokerage contract and agreement on it

3- The task of the commercial broker shall be terminated as soon as the contract is concluded between the parties of the transaction.

4- The commercial broker may be obliged to guarantee the execution of the contract concluded between the parties through an explicit provision to conclude the transaction under a legal text or commercial custom.

 

Important Information

1- What is ICPO?

The Letter of Intent is a total waste of time on a worthless piece of paper. An intermediary can only give to the supplier an “Offer” which is to SELL the Title of the supplier’s goods. ICPO. This term means Irrevocable Corporate Purchase Offer

2- Is an ICPO legally binding?

The payment instrument conditions are irrevocable and non-negotiable. The contract conditions are irrevocable, unconditional and non-negotiable. … Contract discussion and signing. All copies sent via email or fax is deemed as legally binding

3- What is ICPO an abbreviation for?

ICPO

Acronym              Definition

ICPO      International Criminal Police Organization (INTERPOL)

ICPO      Irrevocable Corporate Purchase Order

ICPO      Irish Council for Prisoners Overseas (formerly Irish Commission for Prisoners Overseas)

ICPO      International Commission for the Protection of the Oder (River)

4- What is FCO business?

FCO – Full Corporate Offer.

Issued by the seller after the preliminary stages of negotiation are complete, such as a letter of intent having been issued by the buyer, and a soft probe having been conducted on their accounts by the Seller. A full corporate offer is a document which outlines the conditions of the sale.Sep 11, 2019

What is an FCO document?

Full Corporate Offer (FCO)

Issued by the seller after the preliminary stages of negotiation are complete, such as a letter of intent having been issued by the buyer, and a soft probe having been conducted on their accounts by the Seller. A full corporate offer is a document which outlines the conditions of the sale.

 

5- What is the meaning of LOI?

A letter of intent (LOI) is a document outlining the general plans of an agreement between two or more parties before a legal agreement is finalized. A letter of intent is not a contract and cannot be legally enforced; however, it signifies a serious commitment from one involved party to another.

6- What is the meaning of BCL?

A bank confirmation letter (BCL) is a letter from a bank or financial institution confirming the existence of a loan or a line of credit that has been extended to a borrower.Aug 13, 2019

Bank Comfort Letter (BCL)

A Bank Comfort Letter is a document issued by the bank on behalf of its client(buyer) to the supplier, to assure the supplier of the financial ability and legality of the buyer in maintaining consistent trade.

What do you mean by confirmation letter?

Confirmation Letter is a letter written to confirm various informal and formal activities. … Confirmation letters serve various purposes. A confirmation letter is also a written record of information already discussed in a meeting or through a telephonic conversation.

7- What is LC draft?

All letters of credit require the beneficiary to present a draft and specified documents in order to receive payment. A draft is a written order by which the party creating it, orders another party to pay money to a third party. A draft is also called a bill of exchange. There are two types of drafts: sight and time.

THIS PROCEDURES SHALL APPLY

1-            Buyer issues /ICPO + BCL .

2-            The Seller issues a Full Corporate Offer (FCO) to the Buyer for review and sign and return it back.

3-            The Seller issues Draft Contract for review and signature.

4-            Buyer send back the Draft Contract Approved and Signed or with Amendments to be approved by seller.

5-            Buyer sends LC VERBIAGE DRAFT and Seller confirms and issues Pro-forma invoice with expiration date of seven banking days (7 working days).

Our Work

20 :container

 specifications 20-foot container

Its total load is about 30 cubic meters

Its systemic dimensions are 6 meters long x 2.25 meters wide x 2.25 meters high,

The maximum length used is only 5.80 meters where 20 cm remains to open and close the door,

The maximum loading weight within this container is 18 tonnes

40 :container

Specifications 40-foot container

Its total load is about 60 cubic meters

Its systemic dimensions are 12 meters long x

2.25 meters wide x 2.25 meters high,

The maximum length used is only 11.80 meters

where 20 cm remains to open and close the door

The maximum loading weight within this

container is 22 tonnes

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