LPG-LNG Sellers Published date: November 21, 2014

COMMODITY: LIQUEFIED NATURAL GAS (LNG)
CIF PRICE: CIF Price: USD 490
ORIGIN: Russian Federation
QUANTITY: Minimum 5,000 MT Maximum: 200,000 MT
DESTINATION: CIF ASWP (name of destination port)
CONTRACT: 12 Months

PAYMENT PROCEDURES
1. Buyer Confirms Soft Offer and issues up-to-dated send to Seller their LOI / ICPO with buyer profile, buyer registration with BCL or permission for soft prove on buyer letter head. .
2. Seller issues Full Corporate Offer (FCO) to Buyer. / Buyer sign FCO and The acceptance of term and procedures of the seller Company.
3. Seller sends Draft Contract, Buyer within 3 working days counter amends Draft contract signed and sealed AND Seller issue NCNDA/IMFPA.
4. Buyer sign and return the FCO within the valid day to confirm the deal and issues BCL with the Authorization letter to verify the BCL/ Proof of Fund.
5. Seller issues PPOP (Partial POP) as follows:
*Company Registration Certificate
*Commitment to Supply
*Confirmation of Product Availability
*Export License
*Product Certificate of Origin
*Product Passport (Quantity And Quantity Analysis)
*Tank Storage Receipt
6. Seller Register/Notarize hard copy contract with involved Ministry of Energy.
7. Upon the agreement of the details on the contract, seller and buyer exchange legalized
8. Buyer’s Bank issues documentary letter of credit (L/C) , Seller Bank reply with a 2%
banks Guarantee Model ICC 458 acceptable in written by BUYER and if the seller fail to supply the cargo of the product this 2% will be paid to buyer.
9. Seller shall issues to BUYER’S bank the proof of product Full (POP) plus 2% Performance Bond which also includes the following hard copies contract through courier.
Performance Bond (PB) to buyer and the assignee names by means of prime 50
The Seller will provide the following documents as POP.
1. Copy of license to export, issued by the department of the ministry of energy.
2. Copy of approval to export, issued by the department of the ministry of justice.
3. Copy of statement of availability of the product.
4. Copy of the refinery commitment to produce the product.
5. Copy of Transnet contract to transport the product to the port
6. Copy of the port storage agreement
7. Copy of the charter party agreement(s) to transport the product to discharge port.
10. Upon completion and verification of all transaction documents, Seller commences product delivery as the agreed shipping schedule in the contract.
11. Buyer pays by MT103 T/T wire transfer upon SGS inspections within 5 working days of the product arrival at the Buyer’s nominated discharge port.
Seller pays commission to all involved mandates and intermediaries by T/T Wire Transfer as per the signed and agreed NCNDA/IMFPA within 3 banking days after Buyer’s payment for every shipment and the entire contract

• Company Name: A&B Agro India
• Country: India

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