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      You are in ::  Home > LPG > Read
  LPG Read  
Sell :: 330
Buy :: 82
News :: 14
Count : 104
CIF - NO UPFRONT M100,EN590, D2, REBCO, LNG,LPG, 2018-01-06
 
CIF PURCHASE PROCEDURES ASWP FOR PETROLEUM DERIVATIVES
1. Buyer confirms Soft Offer and issues ICPO.

2. Seller issues full corporate offer (FCO), Buyer sign and return full corporate offer.

3. Seller issues Draft Contract, Buyer review sign and return the contract to Seller in word format within 3 bank working days. Draft Contract open for amendments.

4. Seller issues to Buyer via electronic mail the final Draft Contract (Sales and Purchase Agreement) in PDF format along with the Product Documents to includes:- • Product passport certificate of analysis,
• Commitment to supply,
• Statement of product availability,
• Company registration document,
• Product act of title transfer agreement
• Certificate of origin.
• Conformity certificate

5. Upon receiving of the final PDF contract and product documents, Within 5 banking days Buyer bank issues SBLC MT760 for first lift according to seller verbiage to enable seller proceed with all payment of charges for accreditation, registration, legalization of SPA, POP documents, product booking & reservation of product to buyer company name with the relevant appropriate authorities for buyer legitimate purchase of product from Russia, failure to confirm Buyer`s SBLC within 5 banking days; Buyer becomes responsible for the payment of charges pending the confirmation of the swift SBLC from the Buyer.

6. Seller makes arrangement for the chartered freight with world renowned shipping company for the transportation of the product to buyer designated discharge port, both Seller and Buyer sign the Charter Party Agreement (CPA) together with the logistics company (A three parties ’CPA) this is applicable to trial lift only.

7. Seller issue commercial invoice and act of transfer, buyer sign and return. Seller proceeds with product packaging, port & custom clearance of product.

8. Seller issue to Buyer full POP documents, 2% PB and Export documentations. Buyer bank confirms swift. (if Seller fails to supply the cargo of the product to the Buyer this 2% Performance Bond will be paid to the Buyer). Seller bank sends to buyer’s bank the Full Proof of Product (POP). The full POP documents include:
Copy of license to export, issued by the department of the ministry of energy Russian Federation.
Copy of approval to export, issued by the ministry of justice, Russian Federation.
Copy of statement of availability of the product
Copy of the refinery commitment to produce the product
Copy of contract to transport the product to the loading port
Copy of the port storage agreement
Copy of the charter party agreement(s) to transport the product to discharge port
Copy of vessel questionnaire q88
Copy of bill of lading.
The product SGS inspection charges will be borne by Seller at the loading port. Seller invites buyer for visitation to witness the final inspection and loading of product at the port (Optional to Buyer)
9. Loading & Shipment of product commences as schedule.

10. Upon Vessel’s arrival and finalization of SGS at destination port & product discharge at the destination port, Buyer release payment via swift fund transfer within 5 to 7 banking days to Seller for total shipment value in favor of seller after discharge of product at destination port and receipt of the entire relevant shipping document for immediate negotiation and credited at Buyer’s Bank Account. Seller within 48 hours pays the intermediaries involved according to signed contract & NCNDA.


ALTERNATIVE PURCHASE PROCEDURES CIF ASWP

1. Seller issue soft offer. Buyer issue ICPO with their full banking details. Seller issues full corporate offer. Buyer sign and return full corporate offer.
2. Seller issues SPA. Buyer review, sign and return the contract to Seller in word format within 3 bank working days. Seller sends final SPA in PDF format. Buyer confirms final SPA and issue letter of acceptance of terms and procedure of contract.
3. Seller issues to Buyer via electronic mail the following transaction documents
• Product passport certificate of analysis,
• Commitment to supply,
• Statement of product availability,
• Company registration document,
• Product act of title transfer agreement, expenses to be borne by buyer
• Certificate of origin.
• Conformity certificate
• Final sealed and notarized contract
4.Buyer confirms the receipt of the documents by mail and issue RWA letter within 24hrs period to proceed.
5. Seller makes arrangement for the chartered freight with world renowned shipping company for the transportation of the product to buyer designated discharge port, both Seller and Buyer sign the Charter Party Agreement (CPA) together with the logistics company (A three parties 'CPA) this is applicable to trial lift only.
6. Seller issue commercial invoice and certificate of product title transfer, buyer sign and return. Seller proceeds with product packaging, port & custom clearance of product and all internal routines operations.
7. Seller issue to Buyer full POP documents, 2% PB and Export documentations. Buyer bank confirms swift and issues Documentary letter of credit (DLC) and if Seller fails to supply the cargo of the product to the Buyer this 2% Performance Bond will be paid to the Buyer.
8. The product SGS inspection charges will be borne by Seller at the loading port. Seller invites buyer for visitation to witness the final inspection, loading of product at the port and TTM for negotiation of future transaction (Optional to Buyer)
9. Loading & Shipment of product commences as schedule.
10. Upon cargo arrival and finalization of SGS at destination port, Buyer release payment via swift fund transfer within 5 to 7 banking days to Seller for total shipment value in favour of seller after discharge of product at destination port and receipt of the entire relevant shipping document for immediate negotiation and credited at Buyer's Bank Account. Seller within 48 hours pays the intermediaries involved according to signed contract & NCNDA.

 
 Contact Information
Name   Mr. FAAM UNITED 
Company   Member : FAAM UNITED LLC 
Email   Log In to See Email 
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Tel   00968-97772417 
Fax   00968-22046224 
Mobile   0015053031919 
Web    
IP   5.36.87.31 

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