PROCEDURE CIF FOR D6/JP54 ONLY
1.Buyer issues ICPO.
2.Seller issues Contract Open for Amendments.
3.Buyer counter signs and Seal the contract and sends via email to seller.
4.Seller issues Proforma Invoice and Partial POP documents to buyer via Seller official email address to Buyer official Email address on listed below.
a. Copy of License Certificate
b. Copy of Statement of Availability of the product.
c. Copy of Pro-forma Invoice, Commitment to supply, Certificate of Origin, Q&Q done by indigenous lab at port of Origin, ATS (Authorization To Sell) License certificate, Statement of availability of product.
5.Buyer within 5 banking days, buyer's bank send swift operative Irrevocable confirmed Standby Letter of credit (SBLC) via Swift MT760 to seller (Fiduciary) bank outside Russia and send swift copy to Seller .
6.Seller issue 2% performance Bond to buyer for guarantee monthly shipment and commences and issue full POP and shipping documents including (against shipment documents (Q88, SGS report certificate, Bill of Lading,
A. Copy of License to Export, Issued By the Department of the Ministry of Energy.
B. Copy of Approval to Export, Issued By the Department of the Ministry of Justice.
C. Copy of Statement of Availability of the Product.
D .Copy of the Refinery Commitment to Produce the Product.
E .Copy of the Transnet Contract to Transport the Product to the Port.
F. Copy of the Port Storage Agreement.
G .Copy of the Charter Party Agreement(S) To Transport the Product to Discharge Port.
H. Dip test Authorization, Tank receipt and SGS report.
I .Copy of Vessel Questionnaire 88
J. Copy of Bill of Lading.
K. Certificate of Origin.
L. Allocation Transaction Passport Code Certificate [ATPCC]
M. The customs formalities), and also test report) to buyer/bank.
7.Ship arrives at port destination port and conduct inspection on the goods and buyer release payment to seller bank after inspection at port 100% payable for each shipment within 3 banking days upon the cargo passed SGS and receipt of all the relevant payment documents.
8.Commission to all Agents and Mandates as per signed IMFPA within 48 hours of receiving the payment for the product from the buyer's bank.
TRANSACTION PROCEDURES CIF: for LCO/EN590 - 10ppm/ D2 - 50ppm / 500ppm /REBCO/ ESPO
1. Buyer issue LOI or ICPO
2. Seller Issues Contract Open for Amendments.
3. Buyer Counters Sign And Seals The Contract And Sends Via E-Mail To Seller.
4. Seller issue pro-forma invoice and Partial POP documents to buyer via Seller Official email address to Buyer official Email address on listed below
A. Copy of License certificate
B. Copy of Statement of Availability of the product.
C. Copy of Pro-forma Invoice
5. Buyer Within three (3) banking Days, Buyers bank Send Swift Operative Irrevocable Confirmed Assignable, Cashback Standby Letter of Credit fully funded (SBLC) Via Swift MT760 to Seller Fiduciary company bank outside Russia and send swift copies to Seller via email.
6. Seller 2%PB to buyers for Guarantee Monthly shipment and Commences and issue full POP and shipping documents Including (against shipment Documents (Q88, SGS report certificate , Bill of Lading ), and also test report) to buyer.
7. Ship arrives at port destination port and conduct inspection on the goods and Buyer release payment to seller bank after inspection at port 100% payable for each shipment within 3 banking days upon the cargo passed SGS and receipt of all the relevant payment documents .
8. Commission to all Agents and Mandates as per signed IMFPA.
NOTE: The buyer should read the procedure and follow 100% according to the procedure of each products
Sellers Bank outside Russia is Chinese bank