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Sell :: 287
Buy :: 74
News :: 12
CIF - NO UPFRONT M100,EN590, D2, REBCO, LNG,LPG, 2017-10-15
1) Buyer confirms soft corporate offer and issues an ICPO/LOI to OJSC ACHINSK REFINERY.
2) OJSC ACHINSK REFINERY issues Full Corporate offer to buyer.
3) Buyer sign seal and return Full Corporate offer with acceptance letter.
4) OJSC ACHINSK REFINERY issues draft contract opens for amendments along with NCNDA-IMFPA to buyer.
5) Buyer makes amendments if any, sign and return Draft Contract to OJSC ACHINSK REFINERY for review and acceptance.
6) OJSC ACHINSK REFINERY issues approved draft contract and a letter to the buyer.
7) OJSC ACHINSK REFINERY sends/issues the hard copies of the contract along with the Partial POP to the buyer via Courier Service for buyer review.
8) Buyer Bank opens swift communication with the seller bank in readiness to receive the Full POP from the seller Bank.
9) OJSC ACHINSK REFINERY Bank swifts FULL POP and other relative documents to the Buyer’s Bank. Below are the POP Documents to be swift via bank to bank:
a. Copy of License to Export issued by the department of the Russian Ministry of Energy,
b. Copy of Approval to Export issued by the department of the Russian Ministry of Justice.
c. Copy of statement of availability of the product.
d. Copy of the refinery commitment to produce the product.
e. Copy of the Pipeline Corporation contract to transport the product to the Loading Port.
f. Refinery Certificate of Product.
g. Copy of the port storage agreement.
h. Copy of tank storage receipt.
i. Dip Test Authorization Letter with Authority to Board
j. Copy of SGS report at loading port
k. Copy of the charter party agreement(s) to transport the product to discharge Port.
L. Bill of lading
M. Cargo manifest
N. Proforma Invoice
O. Notice of arrival with Details of shipping Agent at Destination
10) OJSC ACHINSK REFINERY bank issues 2% performance bond to buyer’s bank, and should refinery default, the 2% PB will be paid to the Buyer.
11) Buyer bank confirms swift and issues any of MT103/IDLC/RDLC/SBLC/BG to OJSC ACHINSK REFINERY BANK.
12) OJSC ACHINSK REFINERY releases payment to all intermediaries/Agents via T/T wireless transfer within 24/48 banking hours after receipt of all relevant shipping documents.
13) Upon completion of all verification, shipment commences as per Sales and Purchase Contract Agreement.

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