Dear Sir Madam, I'm looking for products with the following specifications: CIF STANDARD PROCEDURES: 1. Buyer issues the ICPO, Bank Letter promised to issue DLC and scanned copies of the buyer’s company registration and international passport and Seller issues Draft Contract and sends it to the Buyer, Buyer returns the countersigned Contract to Sell Show More...
Dear Sir Madam, I'm looking for products with the following specifications: CIF STANDARD PROCEDURES: 1. Buyer issues the ICPO, Bank Letter promised to issue DLC and scanned copies of the buyer’s company registration and international passport and Seller issues Draft Contract and sends it to the Buyer, Buyer returns the countersigned Contract to Seller Company. 2. Seller issues SPA to Buyer. Within 48 hours Buyer signs seals and returns the SPA to seller, Seller gives Partial proof of products, PPOP authentication approval legalized by the authority. 3. Seller issues Draft Contract (open for any amendments) to Buyer. Buyer signs, seals and returns the Draft Contract to Seller for final endorsement. Seller gives Partial proof of products. (A) Seller Irrevocable Commitment to Supply (B) Statement of availability of product (C) Certificate of origin (D) Export License (E) Proforma invoice for the first value shipment 4. Buyer will request TTM at Refinery office for authentication. And seller need to provide a invitation letter for buyer representatives (4 persons) 5. Within 7 banking days, Buyer's bank sends non-Transferable Irrevocable Operative DLC via MT700 via MT760 BG DLC according to seller's fiduciary bank verbiage to seller nominated bank account for first month shipment, should buyer fail to issue payment instrument within 7 banking days, buyer will make cash deposit of $410,000 by TT for security guarantee to enable seller charter vessel and commence shipment, and this payment will be deducted from the total cost of product after inspection at discharge port, Seller's Bank Issues Full POP Documents to the Buyer's Bank alongside with the 2% Performance Bond (PB). a) Copy of license to export, issued by the department of the Ministry of Energy. b) Copy of Approval to Export, issued by the Ministry of Justice. 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 88 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. 6. Within 5-25 days. The SGS inspection will be borne by the Seller at the loading seaport and Buyer at the unloading seaport 7. Buyer releases payment to Seller by TT MT103 upon receipt of the shipping documents and confirmation of the Q& Q by SGS CIQ at destination port. 8. Seller pays commission within 72 hours by swift MT103 to all intermediaries as signed NCNDA IMPFA 9. Seller buyer moves on yearly basic as per signed draft contract.
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