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PAYMENT PROCEDURE
1. Buyer sends Irrevocable Corporate Purchase Order ¡°ICPO¡± to the Supplier alongside with the following Documents.
A. Buyer¡¯s Company/Personal Information, and
B. A copy of the Data Page of the Buyer¡¯s International Passport
C. Letter of Readiness & Acceptance
2. The Supplier and Buyer endorsed the Tanker Takeover Agreement along with the Commercial Invoice.
3. The Supplier sends the POP Documents to the Buyer via E-mail
A. Bill of Lading (copy)
B. Q88 "Vessel Description" (copy)
C. Certificate of Origin (copy)
D. Storage Receipt (copy)
E. Q&Q Analysis Report at the Loading Port (copy)
4. Buyer pays for the Transfer of Product Title to the Supplier.
5. The Supplier transfers the product title to the Buyer and send the ATB ¡°authorization to board¡± with SGS (original) to the Buyer. The Supplier re-issue the POP Document in favor of the Buyer, along with the Bill of Lading.
6. Buyer pays via T/T Wire transfer as per the Commercial Invoice upon SGS inspection at the Destination Port, after offloading the product.
7. The Supplier pays commission to all intermediaries and sends the SPA for 12 Months Rolls & Extension to the Buyer to review and endorsement. Note: Buyer or Buyer¡¯s side target price is welcome for consideration.
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