Buyer Process & Documentation
Samlucy Mining Group uses a structured transaction sequence designed to support buyer due diligence while protecting supply chain integrity.Â
Deal Sequence
We use a structured transaction sequence designed to support due diligence while protecting proprietary supply information:
Initial Interest (SCO)
Seller delivers:
SCO (Soft Corporate Offer) with indicative commercial terms (non-binding).
Buyer delivers:
Written expression of interest, intended monthly volume, destination port(s), and buyer company details for initial screening.
Trigger to next stage:
Buyer requests verification documents (licenses/assays) and/or requests a firm offer.
Controlled Disclosure (Soft NDA)
Seller delivers:
Soft NDA / Pre-Disclosure Confidentiality Undertaking (document release protection).
Buyer delivers:
Signed Soft NDA + corporate identification details (legal name, registration number, address, authorized signatory contact).
Trigger to next stage:
Soft NDA signed.
After Soft NDA, Seller may release:
Export license, incorporation documents, CCBC assay certificates, SCO/FCO drafts, and other non-source-sensitive documents as appropriate.
Note:
Producer identity and sensitive source details are not released until NCNDA is executed.
Serious Buyer lock (NCNDA)
Seller delivers:
NCNDA (Non-Circumvention, Non-Disclosure, Non-Solicitation).
Buyer delivers:
Signed NCNDA (and company stamp where applicable).
Trigger to next stage:
Buyer requests site visit/inspection, producer/source details, or intends to issue LC / execute SPA.
After NCNDA:
Seller may disclose producer identity/source details as necessary via annex disclosure and controlled verification steps.
Firm Commercial Offer (FCO)
Seller delivers:
FCO (Firm Corporate Offer) with a validity window (e.g., 7 days).
Buyer delivers:
Signed FCO acceptance + ICPO + POF/LC readiness.
Trigger to next stage:
ICPO + POF received and buyer confirms readiness to proceed to contract.
ICPO & POF — glossary (buyer-facing)
ICPO (Irrevocable Corporate Purchase Order): the buyer’s formal, signed commitment to purchase a defined quantity under agreed terms.
POF (Proof of Funds) / LC Readiness: evidence from the buyer’s bank or equivalent documentation demonstrating capability to fund the transaction and issue the LC.
Contract (SPA)
Seller delivers:
SPA (Sales & Purchase Agreement) with annexes defining specs, pricing formula, penalties, sampling/assay protocol, and the LC docum
Signed SPA and instruction to its bank to issue the LC per the SPA document set.
Trigger to next stage:
LC received and confirmed by seller’s bank.
Execution (Shipment)
Seller executes: production allocation, CCBC pre-shipment sampling/assay, packing, and FOB shipment via Lekki.
Buyer executes: vessel nomination (where applicable), destination clearance, and settlement of any destination balance per SPA.
Non-negotiable process controls (copy exactly)
- No sensitive source disclosure prior to NCNDA.
- No SPA without ICPO + POF/LC readiness.
- No shipment without confirmed LC.