LNG / LPG
Loading Port : Novorossiysk | Primorsk |Vladivostok Port
Discharging port: buyer’s choice
OFFICIAL CIF TRANSACTION AND BANKING PROCEDURE
1. Buyer issues ICPO with Seller’s Procedures incorporated on the ICPO.
2. Seller issues SPA (Draft Contract) and CI (Commercial Invoice) for Buyer to sign and return.
3. Seller register and legal the executed contract and send to the buyer along with below PPOP Document;
-Company Registration Certificate
-Refinery Export License
-Product Passport and Analysis Report
-Refinery commitment to supply
-Refinery Statement of Product Availability
-Certificate of product origin
-Refinery Guarantee Letter
-Allocation Transfer form
-Final legalized contract
-Commercial Invoice (CI)
4. Buyer issue payments instrument (SBLC/BG MT 760) to Seller’s Bank covering total product value for the first month shipment.
Seller’s Bank respond with 2% PB to buyer’s bank immediately.
5. Upon confirmation of buyer’s payment Instrument (BG) Seller shall re-assign the Allocation Ownership to the buyer and sign
Charter Party Agreement with the Shipping Company responsible for the transportation of the product to buyer’s nominated
destination port, And lodge bank to bank the executed SPA & CI along with:
-CHARTER PARTY AGREEMENT
-BILL OF LADING
-VESSEL Q88 AD OTHER SHIPPING DOCUMENTS
-COPY OF INSURANCE
CERTIFICATE OF OWNERSHIP
AUTHORIZATION TO SELL
6. Shipment and delivery commences as scheduled.
7. Within 2 working days of Vessel arrival, buyer release full payment via MT103 after CIQ or SGS at the destination port.
8. Seller releases payment to all intermediaries within 24 hrs of payment as mutually agreed in the IMFPA.