MAZUT Buyers Published date: July 5, 2014 Modified date: July 5, 2014

Dear Seller/ Mandate,
Good day and please see our buyer’s requirement below!
COMMODITY: MAZUT ON BELOW PROCEDURE.

A) PROCEDURES :( O.U)
1. Buyer issues an ICPO and 。
2. Seller issues FCO of which buyer endorses and returns.
Seller 发布FCO，
3. Seller issues draft contract open for amendments.
4. Both parties confirm draft Contract by endorsing it.
5. Buyer provides POF via swift MT799 and Seller replies with 2% non-operative performance bond and confirmable Proof of Product to Buyer.
6. Buyer bank issues the irrevocable, DLC with initial shipment 30,000MT shipment, via MT-720 by swift to Seller bank.
7. Delivery commence as scheduled.
8. Payment by MT-103, within 5 banking days after CIQ inspection

2 PROCEDURES :( J.Z)
11. Procedures:
11.1. Buyer issue ICPO to seller.
11.2. Seller issues FCO and Draft Contract Open for amendments.
11.3. Buyer counters sign and seals the draft contract and sends via e-mail to seller.
11.4. Seller countersign and complete all the codes in contract, registers and legalizes the hard copy contract with the Ministry of Energy.
11.5. Seller issues Partial POP and Registered Contract to buyer. Both parties exchange hard copy of contract via courier and lodges contract in respective banks for filing.
11.6. Within five banking days, buyer submit AFV (Authorization Fund
Verification letter) to seller’s bank, seller’s bank shall verify buyer’s fund via swift through bank to bank, both party’s bank communicate for buyer’s financial capability. Finally, buyer’s bank issue swift block funds (See the Attachment for the format) for 90 days to seller’s bank.
11.7. Within five banking days, the seller’s bank issues through swift
Irrevocable, Non-Transferable, revolving once times per month, validity 366 days non-operative 2% PB to Buyer’s bank.
11.8. Within five banking days upon receipt of seller bank’s 2%PB, Buyer’s bank issue Irrevocable,
Non-Transferable, revolving once times per month, validity 366 days MT700
(RDLC) to seller’s bank and automatically active seller’s 2% PB.
11.9. Within five banking days, Seller’s bank issue full set of POP to Buyer’s bank.
11.10. Delivery Commences as Per Contract and the Shipment Should Arrive at buyer’s Discharge Port within20-25Days.
11.11. Upon CIQ inspection at the discharging port, within five banking days, buyer shall make TT payment to seller’s account against the shipping documents.
11.12. If buyer fails to provide CIQ tests report within 5 days after discharging, Buyer agrees payment based on SGS report done at the loading port.
11.13. Upon receipt of buyer’s payment, Seller will immediately release commission within 2 banking days to all involved intermediaries in accordance to IMFPA signed


So if you are in a position to supply above with the price and procedure then let us know in which company name has to issue LOI? We have major multiple Chinese buyer in this regard. So your early respond is highly needed to settle this issue!!!
Regards,
Md. Nahid Hasan Shobha

• Company Name: M/s. Hasan Agency
• Country: Bangladesh

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