Dip and Pay Procedure
1) Buyer issues ICPO.
2) Seller issues Commercial Invoice (CI) and Draft BG or LC as POF for Buyer to countersign and return.
3) Seller issues POP documents to Buyer: 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, Notice of Readiness (NOR) to Commence Injection of the Product.
4) Buyer issues POF Operative LC or BG via MT760 or MT700 to financial company (Fiduciary) bank outside Russia and send swift copy to Seller.
5) Seller Financial company verifies the bank Instrument and sponsor Seller to provide the said funds for this project and Seller move to hire tank at their own cost and inject fuel into the hired tank and then Seller send to Buyer the follow documents: DTA/ATV/ SGS/ Q88/ BL/ ETA/TSR to Buyer and authorized Buyer makes dip test in Seller's tanks .
6) Buyer conducts dip test of the fuel in the secured storage tank by SGS and makes payment of the fuel against Q&Q By SGS Report to Seller bank account.
7)Seller issues Title documents to Buyer and Seller allows Buyer to take over the hired tank storage or provide their TSR to receive the fuel into their tank or vessel.
8) Commission against IMFPA agreement.
9) Seller open 2% PB to Buyer to guarantee the whole of the contract transaction shipment and Buyer pay on each Slot vessel cargo of the fuel against Q&Q By SGS Report at Port.
10) Buyer will pay 5% to Seller as penalty if the Buyer fails to performed and default while Seller will pay 5% to Buyer as penalty if the Seller fails to performed and default.
Serious buyers only! Send me an email for current pricing to: email@example.com