Quantity:
Minimum: *0,**0 Metric Tons Per Month
Maximum: **0,**0 Metric Tons Per Month
CIF Price: Gross USD **0 Per MT / Net USD **0 Per
MT
Incoterms: CIF ASWP
Contract Term: *2 Months Minimum (With Rolls and
Extensions)
Payment Term: MT**3 covered by BG/SBLC via MT**0
or DLC MT**0
Inspection: By SGS/CIQ
CIF TRANSACTION PROCEDURE OPTION
1
1. Buyer issues ICPO must be with buyer company letterhead
and buyer banking information.
2. Seller issues Draft Contract (open for any amendments) to
Buyer. Buyer signs, seals and returns the Draft Contract to Seller
for final endorsement with buyers company Information sheet CIS and
buyers identity. Seller gives Partial proof of products and
transports product to loading port.
a) Refinery Commitment to Supply
b) Certificate of Origin
c) Statement of availability of product
d) Product quality passport (Analysis test Report) By Russian
standard gost R
3. Within 5 banking days, Buyers bank sends Transferable or
nontransferable Irrevocable Operative SBLC via MT**0 or DLC via
MT**0 according to sellers fiduciary bank verbiage to seller
nominated fiduciary offshore bank account for first month
shipment.
If buyer fails to issue payment instrument within 5 banking days,
buyer will make cash deposit of $ **0,**0 by TT wire transfer for
allocation and security guarantee to enable seller charters vessel
and commences shipment, and this payment shall be deducted from the
total cost of product after inspection at discharge port.
4. Sellers Bank will issue Full POP Documents to the Buyers
Bank alongside with the 2% Performance Bond (PB).
a) Copy of license to export, issued by the department of the
Ministry of Energy, Russian Federation
b) Copy of Approval to Export, issued by the Ministry of
Justice, Russian Federation
c) Copy of statement of availability of the product
d) Copy of the refinery commitment to produce the product
e) Copy of Transnet contract to transport the product to the
loading port
f) Copy of the port storage agreement
g) Copy of the charter party agreement to transport the
product to discharge port
h) Copy of Vessel Questionnaire *8
i) Copy of Bill of Lading
j) SGS Report at loading port
k) Dip test Authorization (DTA) & ATB
l) NOR /ETA
m) Certificate of Ownership Transfer
n) Allocation Transaction Passport Code Certificate (ATPCC)
by Ministry of Energy
5. Shipment commences as per signed contract delivery
schedule and the shipment should arrive at buyers discharge port
within ***5 days. The SGS inspection will be borne by the Seller at
the loading seaport and Buyer at the unloading seaport.
6. Buyer releases payment to Seller by TT/MT**3 upon receipt
of the shipping documents and confirmation of the Q & Q by
SGS/CIQ at destination port.
7. Seller pays commission within *8 hours by swift MT**3 to
all intermediaries as signed NCNDA/IMPFA.
CIF TRANSACTION PROCEDURE OPTION
2
1. Buyer sends LOI or ICPO to seller, seller responds with
FCO, buyer signs and returns.
2. Seller issues Draft Contract address to Buyer Company.
3. Buyer reviews and signs on each page of full Draft
Contract and return to Seller.
4. Seller registers and legalizes the full Draft Contract
with the Russian ministry on seller\'s cost and sends hard copies
of registered and legalized Draft Contract along with Notarize
partial POP to Buyer or buyers bank by courier on buyer charges,
POP as stated below.
a) Certificate of Origin of the product
b) Company Registration
c) Statement of Product Availability
d) Export License
e) Commitment to produce the product
f) Attestation of allocation certificate
g) Bill of lading / Q*8
h) Analytical report, fresh SGS
5. Upon the confirmation received of the partial POP to
buyer\'s bank, Buyers Bank swifts stand by Letter of Credit or DLC.
(DLC OR SBLC Conditional).
6. After confirmation of the buyer payment instrument, Seller
will issue to Buyers bank the full Shipment documents / full Proof
of Product (POP) Plus 2% Performance Bond via swift bank to bank
Upon acceptance of buyers payment instrument (DLC OR SBLC) covering
the first trial shipment by seller.
7. The SGS inspection will be borne by the Seller at the
loading seaport and Buyer at the Discharge Seaport.
8. Shipment commences as per contract.
9. Buyers bank upon arrival of the cargo at the discharge
port, payment will be made for arrival Cargo shipment by the buyer
via MT**3 **0% after SGS Inspection at Discharge port.
*0. Seller will release payments to the intermediaries involved
according to IMFPA signed by all parties within *8 hours of
receiving Payment of the product from the Buyer\'s bank, second
shipment proceed accordingly.
Note:
- Procedure is non-negotiable.
- Prices are subject to change without prior
notice.
For inquiry, please contact us for proceed further.
