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      You are in ::  Home > LPG > Read
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Risk free procedure for all finished petroleum products 2017-01-02
 
Hello
Prospective end buyers and mandates seeking direct supply of petroleum products from refineries with zero risk.

We are mandate with power of attorney of a seller who works with 6 large Russian refineries and their subsidiaries.

Below are our standard procedures for Russian fuels.

1. Buyer issues LOI and /or ICPO along with company registration documents along with passport copy.

2. Seller issues Signed SPA with company registration documents and passport copy.

3. Buyer signs the SPA.

4. Seller finalizes the contract and sends final copy to buyer.

5. Buyer sends six ink-signed & sealed hard copies by International courier to seller for address verification (optional). Buyer Notarizes the contract (all Six Copies) if requested by seller.

6. Seller counters signs and seals all copies and sends three hard copies back to buyer for address verification (optional). Seller Notarizes the contract (all Six Copies) if requested by buyer.

7. Buyer upon receipt of three hard copies (one bank copy, one attorney copy and one copy for self) issues SWIFT MT 799 or MT 705 Pre-advice of TRANSFERABLE DLC (TDLC) or NON-TRANSFERABLE DLC (NTDLC).

8. Seller issues 2% PB by MT 799 (NON-OPERATIVE) and also issues Partial POP to buyer bank. (Seller may issue operative 2% PB by SWIFT MT 760)

9. Buyer upon receipts sends SWIFT MT 700 TDLC or SWIFT MT 720 NTDLC to seller bank.

10. Seller bank upon receipt of above payment guarantee instrument issue SWIFT MT 760 2% PB

11. Seller issues FULL POP along with document of shipping.

12. Buyer upon receipt of product at unloading port and after discharge of product into their tanks pays seller by SWIFT MT 103 or TT against SGS Q&Q of unloading port.

From now on we will start to supply at FOB base to other ports (NOT IN TANKS) as well with following procedure after buyers LOI/ICPO, company registration and copy passport.

1: Buyer and seller sign SPA.
2: Buyer issues BG/SBLC by swift MT 799 or DLC by MT 705 or POF by swift MT 199.
3: Seller issues 2% PB (revolving) by MT 700 and partial POP with certificate of origin indicating name of refinery.
4: Buyer issues NTSBLC by MT 760 or NTDLC by MT 700 (operative/non operative).
5: Seller issues 2% PB by swift MT 760.
6: Seller ships and send BL, SGS, Q&Q load port to buyer’s bank for payment.
7: Buyer pays by MT 103/TT within 48 hours of unloading and CIQ/SGS Q&Q ( if buyer fails to pay within 72 hours then seller has right for payment against SGS Q&Q load port ).

Notes:
In step 2 buyer can choose to issue 10% BG/SBLC or DLC then in step 4 can issue balance 90% BG/SBLC or DLC so that buyers do not exhaust their credit facilities or lock down their entire own fund.
For FOB buyer shall receive POP and dip test (as per availability) after 10% BG/SBLC.
This means that buyer can start working with minimum account balance but must Ensure 100% availability of funds for payment guarantee instruments and enable seller to commence loading & shipping of cargo to buyer delivery port.

Please don't waste our time when you/your buyer can't follow our NON-NEGOTIABLE procedures.

 
 Contact Information
Name   Mr. Bernard Fiagbe 
Company   Member : Kobbybeni Enterprise 
Email   Log In to See Email 
   Inquire Now 
Tel   00233262775557 
Fax   00233404548 
Mobile   00233262775557 
Web    
IP   154.68.54.101 

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