I'm here looking for genuine buyers. I'll be attaching the procedures below. As with all our contacts, before we introduce you to the refinery, we do extensive due diligence and we'll be setting up a conference meeting with your company.
In the email please specify your relationship to the buyer, company name, website and your experience working on deals of this nature.
Please don't forward across any fake offers as that will warrant no response.
Also just a side note to make it clear, the procedures below is absolutely non negotiable. If you/your buyer agree, please get in touch, send over the appropriate documents and we'll book in a conference meeting.
1. Buyer issues ICPO must include buyer company letter-head and buyer banking information.
2. Seller issues Draft Contract (open for any amendments) to Buyer. Buyer signs, seals, and returns the Draft
Contract to Seller for final endorsement. Seller gives Partial proof of products
(A) Refinery Commitment to Supply
(B) Certificate of Origin
(C) Statement of availability of product
(D) SGS analysis report.
3. Buyer’s bank sends Transferable/Divisible -Operative SBLC via MT-760 or Transferable according to our bank verbiage to seller nominated bank account for first month shipment; seller’s Bank issues Full POP
Documents to the Buyer’s Bank alongside with the 2% Performance Bond (PB)
a) Copy of license to export, issued by the department of the Ministry of Energy, Russian Federation.
b) Copy of Approval to Export, issued by the Ministry of Justice, Russian Federation.
c) Copy of statement of availability of the product.
d) Copy of the refinery commitment to produce the product.
e) Copy of Transnet contract to transport the product to the loading port.
f) Copy of the port storage agreement.
g) Copy of the charter party agreement to transport the product to discharge port.
h) Copy of Vessel Questionnaire 88.
i) Copy of Bill of Lading.
j) SGS Report at loading port.
k) Dip test Authorization (DTA) & ATV; ATB
l) NOR / ETA
m) Certificate of Ownership Transfer
n) Allocation Transaction Passport Code Certificate (ATPCC) by Ministry of Energy
4. Shipment commences as per signed contract delivery schedule and the shipment should arrive at Buyer’s discharge port within 10- 20 days. The SGS inspection will be borne by the Seller at the loading seaport and Buyer at the unloading seaport
5. Buyer releases payment to Seller by TT/MT103 upon receipt of the shipping documents and confirmation of the Q & Q by SGS at destination port.
6. Seller pays commission within 48 hours by swift MT103 to all intermediaries as signed NCNDA/IMPFA.
Mark El Chami
Managing Director of Bridging Capital