1. Buyer issue irrevocable corporate purchase order (ICPO) to the seller.
2. Seller issue pro-forma invoice with Sales purchase agreement (SPA). Buyers sign/seal the sellers SPA and send copy of the contract to seller in PDF format as final.
3. Subsequent to sign and seal of SPA. The Seller and buyer submit the Final SPA with the Escrow agent. Buyer and seller sign/seal the Escrow agreement, upon sign and seal of the Escrow agreement by the parties, the Escrow agent issues invoice to both parties (Seller and Buyer) for the Escrow deposit, the buyer and seller makes the indemnity deposit of 5% face value of the first month delivery with the Escrow agent as performance guarantee.
4. Subsequently Seller ensures that the cargo is registered and programmed in buyers’ name. Seller provides cargo documents programmed in Buyer’s name for the loaded vessel which includes:
• Clean Ocean Bill of Lading, One (1) Original and three (3) copiers.
• Seller’s Commercial Invoice, One (1) Original and three (3) copies.
• SGS/Saybolt Certificate of Quality and Quantity, One (1) Original and three (3) copies
• Certificate of Origin , One (1) Original and three (3) copies
• Cargo Manifest
• Charter Party Agreement
• Vessel Ullage report.
• Vessel Q88
5. Seller issues periodic NOR/ETA for the buyer to prepare clearance for seller’s vessel at Buyer’s POD. At POD, Seller’s Captain Issues a Marine ATB and invites Buyer’s inspectors to board seller’s loaded vessel, at buyer’s cost, to conduct Quality and Quantity at POE, and issue results to buyer, seller and Escrow agent.
6. Upon satisfactory SGS Quality and Quantity report, the buyer makes payment via MT103 OR TT wire transfer to seller designated account for the total product available.
7. Seller changes the title of ownership of the product to buyer’s name and changes the POP documents to the name of the buyer, Henceforth the buyer is the owner of the product. Commission is paid within 24hrs to facilitators and intermediary subsequent to payment
A Bill of lading
B Certificate of origin
C Certificate of analysis Report
D Certificate of Q&Q (SGS or equivalent)
E Seller’s commercial invoice
F Vessel ullage report
G Cargo Manifest
8. Transaction is closed and next shipment is -rescheduled.
Name Mr. ABEN SMITH
Company Member : SS TRADERS