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      You are in ::  Home > Crude > Read
Crude Oil Read
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DLC PROCEDURE FOR 2MBBLS, BLCO, CIF ANY SAFE PORT WORLD WIDE. 2018-10-18
 
CIF Transaction Procedure Via MT700 DLC


1. Seller issue contract and Buyer sign, seal contract and return with completed CIS Form and details of the discharge port for the issuance of Notice of Readiness (NOR) and marine Authority to Board (ATB) details, as contract is deposited with banks.

2. Buyer signs & returns Contract.

3. Within 3 banking days Buyers Bank to issue BCL via SWIFT MT199 confirming availability of funds POF and readiness to issue a conditional DLC by SWIFT MT700 with Sellers approved verbiage to Sellers Fiduciary Bank. Sellers Fiduciary Bank confirms by SWIFT MT199 that they are ready to issue 2% PB upon receipt and successful validation of genuine and acceptable financial instrument from Buyers bank.

4. Buyer within 5 banking days has Buyers Bank to issue conditional DLC by SWIFT MT700, to Sellers Bank, in accordance with the attached verbiage. Sellers Bank confirms instrument Within 72 hours or on confirmation, Sellers Bank issues by SWIFT 2% PB to Buyer's Bank to activate the financial instrument.

5. Seller nominated vessel issue a Marine NOR/ETA and their INTERTANKO Q88 via e-mail to the Buyer for confirmation within 5-days of issuance of the 2% PB.

6. After confirmation of the NOR by the Buyer, the Seller shall release the following partial documents in Buyers name to Buyer before vessel arrives the discharge port, : Customs Outward Clearance, Tank Ullage Report, Bill of Laden, Vessel Q88,Masters Receipt, Cargo Manifest, Certificates of Quality & Quantity, N.N.P.C Certificate of Authenticity/Warranty of Title, Marine ATB. All outstanding documents shall be issued after Q & Q analysis at the discharge port.

7. Vessel sails to Buyer Port of Discharge (POD), upon arrival announces to Harbor Master on behalf of Buyer.

8. Buyer's nominated shipping agent/company obtains all necessary clearance documents from the port authority to the captain of the vessel for anchorage.

9. Captain onboard drops anchorage on the agreed (NAUTICAL MILES) and issue marine ATB from captain's desk stating her exact Longitude/Latitude with VHF channel and opens communication for Buyers SGS/Supercargo boarding. Within 12 hours of the receipt of marine ATB, Buyers Inspectors/Supercargo shall board and take samples and inspection report for generation of Commercial Invoice (CI) which is issued to both Buyer and Seller.

10. Within 48 hours of presentation of Seller's Commercial Invoice Buyer shall Swift MT103/23 covering the cargo value to the Sellers nominated Fiduciary bank in favor of the Seller as per the approved verbiage and send a courtesy copy of the MT103/23 to the Seller by e-mail for confirmation/

11. Seller will re-assign the Vessel/Cargo documents issued to the order of the Buyer as CONSIGNEE and hard copy delivered to Buyers Bank.

12. Buyer to make full Payment via MT103 or Swift Wire Transfer KTT for total cargo to Sellers nominated bank account within 48 hours of receiving final shipping and cargo documents. And Buyer shall simultaneously pay all commissions to Agents and Facilitators.

I look forward to hearing from you soon. Call 07083249082
 
 Contact Information
Name   Mr. IBID IBID 
Company   Member : Greevalley Oil 
Email   Log In to See Email 
   Inquire Now 
Tel   TBN 
Fax   NA 
Mobile   TBN 
Web    
IP   105.112.45.171 

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