Fast Track Operating Procedure
Last update: 01.04.2021
SourceWeb Medical AG is a subsidiary of SourceWeb International AG.
Using our fast-track procedure guarantees the fastest possible purchase process. Orders of customers using this Fast-Track process are preferred to all other customers and enjoy the highest priority in the purchase process.
This procedure requires that the buyer demonstrates the seriousness of the purchase.
Fast Standard Operating Procedure (Fast-Track SOP)
- Application form
Please fill out the form for the Fast-Track procedure completely and correctly. You can find the form here.
- Order confirmation and draft of the sales and purchase agreement (SPA)
We usually check your application within a few hours and then send you a draft of the sales and purchase agreement. We are happy to discuss the SPA draft in a Zoom meeting.
- Signing the sales and purchase agreement
After you have checked the sales and purchase agreement it is signed by both parties.
- Payment of the guarantee for the contractual penalty
In order to prove the seriousness of your purchase, you will now be asked to pay the contractual penalty into the escrow account. The penalty is due in the event of a breach of the sales and purchase agreement. You received the payment data already immediately after submitting the application form. The amount to be paid was also automatically calculated directly in the application form. We guarantee a contractual penalty of the same amount on the sales and purchase agreement.
- KYC and MLR checks
The escrow attorney will do the mandatory anti-money-laundering checks. This step is usually completed in a few hours. Please have ready the passport of the legal representative of the company and the company registration documents.
- Sales and purchase agreement / SPA
During the money laundering checks we will already send you a sales and purchase agreement (SPA) containing the conditions mentioned in our confirmation. You are welcome to check this with your lawyer and suggest changes. We can also discuss the SPA in a zoom meeting before signing.
- Proof of funds / POF
The buyer provides solid evidence that he has sufficient funds, either directly or indirectly, to cover the amount of the sales and purchase agreement. A common proof of funds is a bank confirmation letter (BCL), a bank guarantee, SWIFT MT199 or SWIFT MT799.
- Proof of life, lot and batch numbers
Within 3 working days after the POF, the buyer receives the lot and batch numbers, along with other documents, to check that the goods are available and that they are authentic from the manufacturer. Depending on the type of product and the requirements of the buyer, a proof of availability (SGS, TÜV inspection or similar) can also be sent to the buyer.
- Payment of the purchase amount to the escrow account
The buyer deposits the purchase amount in the escrow account by doing a bank transfer.
- Shipping schedule and freight documents
The seller sends to the buyer the complete and binding shipping schedule. Other documents, in particular freight and shipping documents (e.g., air waybill), will be sent to the buyer as soon as they are available and within the agreed period.
- Delivery of the goods
The delivery is coordinated and processed in accordance with the sales and purchase agreement. SourceWeb informs the buyer of each step. After delivery, the buyer can carry out goods inspections, SGS analyzes or similar checks.
- Release of the escrow funds and transfer of title
After the optional inspection of the goods by the buyer and if the goods are in conformity with the sales and purchase agreement, but no later than 3 working days after delivery if the buyer does not make any complaints, the purchase price will be released from the escrow account. At the same time, the buyer gets the title of the goods (transfer of title).
Now the purchase process is concluded, and we look forward to doing more business with your company.