MAZUT Buyers Published date: July 8, 2014

We need to have new mazut seller for our Chinese end-buyer.
If you have seller, we can buy it as the following condition;
Quantity: min. 50,000 MT – max. 200,000 MT x 12 months
Origin: Russia
Price: max. USD (NET/GROSS), CIF China
Payment terms: Irrevocable, Non-transferable DLC/RDLC at sight against all shipment documents and CIQ inspection at discharge port

Working procedure
a. Seller issues SCO with letterhead, No accept SCO by seller agent.
b. Buyer issues ICPO and full banking details
c. Seller sends draft contract for open amendment. buyer returns with Signature and Seal.
d. Seller issues final Contract for buyer’s approval. Buyer sends Letter of Approval.
e. Both parties lodge respective bank.
f. Seller issues Buyer PPOP via bank-to-bank.
g. Upon successful verification, Buyer bank issues pre-advised LC to Seller bank.
h. Seller bank issues 2% PB to buyer bank which will activate LC automatically.
j. Seller bank issues full POP to buyer bank.
i. Shipment commences
k. Buyer bank release full payment by MT103/TT against all shipment documents and CIQ inspection at discharge port.

• Company Name: NP (I) AGROINDUSTRIES
• Country: China

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