We explore opportunities to make the Philippines a possible market for new products, innovations, technologies and components. We partner with International suppliers looking to introduce new products and technologies to the Philippines.
With more than 90 million consumers, the Philippines is a broad potential market for new products and services, with various industries that can be viable partners. We actively seek partners to introduce new technologies, products and components to the Philippine market as well as Philippine industries.
We help drive the Philippines’ growth by helping the government bring in critical supplies, components, technologies, and other commodities needed to boost the implementation of national priority programs related to agriculture, energy and transportation, among others.
Some of our successes include supporting the transportation sector through importing affordable, good-quality automotive parts and components. We also helped bring in medical supply innovations (such as drug testing kits), which we are marketing locally in partnership with local marketers and for the government.
Our services include:
- Direct trading (back to back or third-country trading)
- Indirect trading / indent sales
- Exclusive dealership / distributorship / local sales
- Import consolidation
- Bulk importation of essential and critical commodities for the government
We are actively searching for new products, technologies, and components from all over the world that will meet current or emerging needs of the Philippine market and industries. We invite you to be part of our global trade network by submitting your company profile and product portfolio to us for registration.
Browse our Imports Products [link to: http://pitc.gov.ph/images/PITC/ImportsProducts.pdf]
How to avail PITC services
Step 1: Buyer sends a Letter of Intent (LOI) to PITC. Buyer also submits procedure documents.
Step 2: LOI and procedure documents will be logged and reviewed by PITC and simultaneously conducts due diligence.
Step 3: PITC produces a soft offer to the Buyer with details for the commodity transaction
Step 4: Buyer confirms soft offer issues an Irrevocable Corporate Purchase Order (ICPO), proof of funds (POF) or Bank Guarantee, for amount specified in LOI
Step 5: Upon receipt of the POF, PITC will issue a draft contract / Full Corporate Offer (FCO) to Buyer. The FCO will constitute the authorization and other documents i.e. NCND, IPFA, as applicable
Step 6: Buyer and PITC signs the Sales/Purchase Agreement
Step7: The Buyer's bank issues a Bank Guarantee (BG) to PITC's BankStep 8: PITC submits Supplier's proof-of-product (POP) / Supply Allocation to Buyer
Step 9: Supplier's/PITC's Bank posts Non-Operative Performance Bond equal to 2% of the value of the shipment.
Step 10: The Buyer's Bank opens a Documentary Letter of Credit (DLC) by Swift to PITC's / Supplier's Bank
Step 11: Shipment/Delivery as per Sales/Purchase Contract.
Step 12: If long term contract, repeat process for each subsequent lift in Purchase Order and or Contract.
Procedure documents for local buyers and importers
1. Submission of documentary requirements
a. Business Registration
b. Articles of Incorporation/By Laws
c. BIR Certificate of Registration
d. Company Profile/Business Profile
e. Pertinent Permits & Licenses , as required f. Letter of Intent
g. Irrevocable Confirmed Purchase Order (ICPO)
h. Bank Guarantee / Proof of Funds
a. Verification of Procedure Documents
b. Meeting and negotiation with buyers
c. Warehouse /Factory Site visit (whenever possible)
OIC-Vice President - International Trading Services Group
Direct: (+632) 8818-9801 loc 360
We look forward to working with you!