100 000mt CIF China Port x 12 month PROCEDURES: MAZUT 1. Buyer sends LOI, Seller reply SCO. 2. Buyer prov with bank details and right for soft probe. Seller issues FCO and Buyer reply acceptance. 3. Buyer Seller send draft contract, after amendments and both parties sign. 4. Buyer and Seller lodge contract i Show More...
100 000mt CIF China Port x 12 month PROCEDURES: MAZUT 1. Buyer sends LOI, Seller reply SCO. 2. Buyer prov with bank details and right for soft probe. Seller issues FCO and Buyer reply acceptance. 3. Buyer Seller send draft contract, after amendments and both parties sign. 4. Buyer and Seller lodge contract in their respective banks. Electronically signed contract is conserative before hardcopy is exchanged. 5. Within 7 days after contract signed, Selleru2019s bank Buyeru2019s bank and enquire Buyeru2019s payment capability. Upon satisfactory, Selleru2019s bank issues first a non-operative pre-advice 2% PB to Buyeru2019s bank. 6. Buyeru2019s bank issues an operative 100% face value Documentary to Selleru2019s bank via SWIFT, and activates Selleru2019s 2% PB. 7. After receiving and verifying Buyeru2019s Documentary , Seller bank sends partial full POP. 8. Delivery commence as per scheduled. 9. Buyer releases payment (T T or other agreed format) within 5 working days after SGS inspection for quantity, quality of cargo received at discharging port. 10. Seller release commissions to Mandates and intermediaries involved.
Signup today to claim your Discount. Get Started before it's too late!
