50KMT CIF China CALL for M100-75/99 | MAZUT Buyers | MAZUT.org 

50KMT CIF China CALL for M100-75/99

MAZUT Buyers Published date: June 6, 2014

Qty per shipment: 50,000MT
1 ~ 4 shipment per month by contract.
Please quota a price.

Procedure of our current suppliers:
1. Seller provide SCO.
2. Buyer provides ICPO with bank details. Seller issues FCO and Buyer replies acceptance.
3. Buyer/Seller send draft contract, after amendments both parties sign.
4. Buyer and Seller lodge contract in their respective banks. Electronically signed contract is considered operative before hard copy is exchanged.
5. Within 7 days, Seller’s bank contact Buyer’s bank and issues first a non-operative pre-advice 2% PB (ICC URDG758) to Buyer’s bank.
6. Buyer’s bank issues an operative and irrevocable 100% face value Documentary Letter of Credit (ICC UCP600 MT700) to Seller’s bank via SWIFT, and activates Seller’s 2% PB.
7. After receiving and verifying Buyer’s Documentary Letter of Credit, Seller bank provides partial/full POP.
8. Delivery commence as per scheduled.
9. Buyer bank releases payment (T/T or other agreed format) within 5 banking days after SGS inspection for quantity, quality of cargo received at discharging port.
10. Seller release commissions to Mandates and intermediaries involved.

  • Company Name: UMX
  • Country: USA

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