DISCOUNT : GROSS $5 NET $3. COMMISSION $2
TO EUROPEAN BUYERS. (DISCOUNT VARIES WITH ASIAN BUYERS)
1. Buyer Signs SPA and returns with their ATB Format
2. Buyer (Refinery) send a bank Endorsed LPO Via Secure Email address to his bank (buyer’s bank) so they can send to seller’s bank, from the same secure email address of the refinery to seller/mandate.
3. Refinery send hard copy of the bank endorsed LPO to seller by Currier services. (DHL, UPS)
4. Seller verifies and authenticate the bank endorsed LPO, If positive, loads and sails cargo to the refinery.
5. Q and Q gets performed at buyers POD and refinery pays for entire cargo with MT103 within 48 hours.