MAZUT Buyers Published date: January 3, 2017

Quantity 50,000MT X 12 months
CIF Huang Dao Port
Payment instrument: DLC/TDLC/BG
Target price : USD190/200
Procedure:
1). Buyer sends LOI requesting price and procedures via e-mail.
2). Seller reply with Full corporate offer and full specification. Buyer confirm with seal and signatory if
accept and request for Draft S & P Contract.
3). Seller reply with Draft S & P Contract via e-mail together with sample text Format BCL,PB to Buyer and the S&P is opened for amendment.
4). The buyer receives and make amendment to (If Required) the Draft S & P Contract, print, sign seal
and returns it to the Seller for acceptance by e-mail.
5). Seller, check verified and if all acceptable, will sign the final contract and return to the buyer via
e-mail and request for BCL and carry out necessary verification on Buyer ‘s financial standing.
6). Buyer send BCL to Seller’s bank.
7). Within 5 working days after receiving Buyer’s BCL,Seller’s bank send Partial Proof of Products (PPOP) and 2% PB to Buyer’s Bank.
8). Buyer and Buyer’s Bank, after verification of the PPOP, 2% Performance Bond and positive Dip test in return will issue Irrevocable, non-transferable Documentary Letter of credit or Bank Guarantee to Seller’s nominating Bank with terms and conditions as per signed Contract.
9). Seller’s Bank will upon the receipt of the DLC/BG, change the title and transfer swift the full
Proof of Products (POP) documents to the Buyer’s Bank including the current date SGS Report,
Authorization for a Dip-Test and the Title Ownership Certificate.
10).Delivery commences as per contract and shipment should arrive Buyer’s destination port within
15-20 days.
11).Upon arrival, doing the inspection by SGS/CIQ at discharge port and confirmed Quantity and quality
as per B/Ls and specification, Buyer’s Bank release 100% Payment to Seller’s Bank via Swift T/T
MT103 within Five(5) Banking Days as per signed S & P Agreement.

• Country: CHINA

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