Mazut 100 Offer
1. Buyer issues an ICPO with full bank details.
2. Seller issues FCO electronically signed and Buyer returns the FCO with agreed terms.
3. Buyer and Seller execute formal contract which is lodged with their respective transaction
Bank
4. Buyer’s Bank SWIFT a BCL/RWA (POF) via MT199/MT999/MT799 to Seller’s Bank/Designated Account within 3 days after the contract signed and seller will issue PPOP. Upon receiving the BCL and requesting for PPOP by buyer bank, seller will post the past BL together with the PPOP.
List of Partial Proof of Product Document (PPOP) includes:
1. Export License
2. Incorporation of Registration/Certificate
3. Commercial Invoice
4. Draft Bill of Lading for the shipment
5. Inspection Report
6. Commitment to Supply
7. Certificate of Origin
8. Draft Shipping Agreement
9. Past Bill of Lading (For end buyer verification)
5. Buyer bank will then start communicating with seller bank and Buyer’s bank requests Seller’s bank to confirm that seller will issue 2% Performance Bond (PB) within 5 banking days upon receipt of Buyer’s bank Non Operative BG/SBLC within 5 banking days.
6. Seller's bank confirm that 2% Performance Bond will be issued within 5 banking days upon receipt of Buyer’s bank Non Operative BG/SBLC/DLC within 5 banking days. Buyer bank swift the non-operative BG/SBLC to seller bank upon confirmation.
7. Seller's bank issue 2% PB to Buyer's bank upon receipt of Buyer’s bank Non-Operative BG/SBLC to activate Operative BG/SBLC, followed by chartered agreement of vessel and other POP documents.
8. Delivery Commences as per Contract and the Shipment Should Arrive at Buyer’s Discharge Port within 30/45 Days.
Please let me know if you need further assistance
Above are the non-negotiable terms and conditions if anybody interesting on the above please do write to me or contact me .
Regards
Shaan
- Company Name: EnergyStar
- Country: United Arab Emirates
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