1. Buyer issues Irrevocable Corporate Purchase Order (ICPO)
addressed to the Seller Refinery along with company profile and
Buyers passport.
2. Seller issues the draft SPA for Buyer\'s review and
signing.
3. Seller legalizes and registers the contracts with
insurance company and notarizes it with the appropriate Authorities
of the ministry of energy along with the below PPOP document.
a) Product Quality Passport-Quality Certificate
b) Certificate of Product Origin
c) Product availability
d) Commitment letter to supply the product from Ministry of
Energy
e) ATSC
4. Buyers bank issues MT**9 to Sellers nominated bank
informing readiness to issue agreed financial Instrument
(SBLC/DLC). Buyers bank in accordance with Sellers verbiage shall
issue SBLC/DLC within six (6) working days for first shipments
value to Sellers financial bank to enable Seller commence loading
of product with the shipping company. Seller to finalize loading
within six (6) working days.
But if Buyer fails to issue SBLC/DLC within six (6) working days,
as an alternative provision Buyer pays $**0,**0 to Seller nominated
RUSSIA insurance company within seven (7) days, which will be
deducted from the products invoice value of product at destination
port.
5. After confirmation by Sellers bank, Seller at own expense,
charters with shipping/logistic company and alert Buyer on shipment
ordered graphic/schedule accompanied with submission of nominated
Vessel details to Buyer.
6. Sellers bank responds with contractual operative 2% PB and
full POP to Buyers bank within seventy two (*2) hours since Buyers
instrument confirmed by Sellers bank.
a) Copy of the Port Storage Agreement
b) Copy of the CPA, to Transport the Product to Discharge
Port
c) Vessel Q*8
d) Original BL (full set)
e) Copy of SGS Report
7. Upon successful product confirmation against SGS/CIQ
Report of Quality and Quantity at destination port, Buyer makes
payment by MT**3.
8. Seller and Buyer, within seventy two (*2) hours, Seller
pays commissions to Sellers side and Buyer pays Buyers side
intermediaries involved in the transaction.
Note:
- Prices are subject to change without prior notice.
- Procedures are non negotiable.
For inquiry, please contact us for proceed further.
