IF YOU HAVE VESSEL IN CHINA BUYER READY TO GIVE RWA FROM THEIR BANK IN HK
THEY BOARD CONFIRM PRODUCT AND PLACE INSTRUMENT
>> Mr Chikelue Innocent, C&C GLORY ENTERPRISES
REAL NBLCO SELLER NEEDED CIF CHINA ( SELLER 2%PB FIRST,
PROCEDURE FOR CIF NBLCO
1¡¢The signed and sealed contract should be presented to Buyer¡¯s and Seller¡¯s bank respectively.
2¡¢seller¡¯s bank issues 2% of the total goods value as PB.
3¡¢Upon receipt of the 2% PB from the seller¡¯s bank, the buyer¡¯s bank issues DLC/MT700 worth 100% of the total
goods value upon receipt of the PB within 7-25 working days.
4¡¢ after the purchase and sale contract between the seller and the buyer bank approved and entrust the seller's bank regulation in China, the tripartite regulatory agreement, seller will issue 2% performance bond, regulatory accounts opened by the buyer will be credited to the account for 100%, in accordance with the terms of purchase and sale contract execution.£¨äÎñéÙþ请教ïáçÈÙþ£©
5¡¢Upon arrival of the oil in the target harbor(s) after successful CIQ inspection and within 7bank working days, the buyer¡¯s bank should do DLC/MT700 or TT/MT103 payment.
6¡¢Seller will releases payments to the intermediaries involved according IMFPA within Five working days of receiving payment for the product from Buyer¡¯s Bank , second shipment proceed accordingly.
We hope for its prompt response and looking forward to conclude transaction without delay or interruptions.