We are in the market for Diesel D2 Gas Oil:
• Quantity: 20,000 MT/Month
• Origin: RUSSIA
• Inspection: SGS or Equivalent for Quantity and Quality
• Delivery: CIF at PORT VAN PHONG, VIETNAM
1. Seller issues SCO
2. Buyer’s issue ICPO to seller upon confirming seller’s offer.
3. Seller’s issue FCO.
4. Buyer’s company sign acceptance of the FCO.
5. Seller’s provides partial proof of products (PPOP/POP)
6. Seller’s bank shall send PPOP to the buyer via secured electronic mail, PPOP consist of following documents:
a. Copy of contract with refinery
b. Company registration certificate
c. Procut quality passport
d. Copy of refinery production schedule for the product, approved by ministry of energy
e. Commitment letter from refinery
7. Buyer’s provide Proof of Fund (POF) and ready, willing and able (RWA)
8. Seller’s issues draft contract and NCNDA/IMFPA for intermediaries to buyer’s in the accordance to the team stated in the agreed FCO.
9. Buyer amends draft contract (if necessary) and confirm acceptance of the draft contract and sign by electronic first between seller’s and buyer’s.
10. Buyer’s and seller’s sign the first contract, Irrevocable master fee protection agreement (IMFPA) and Non-Circumvention, Non-Disclosure Agreement (NCNDA) and lodge with their respective bank.
11. Seller’s send full proof of product (FPOP) to Buyer’s as listed in the contract.
12. Buyer’s bank sends to seller’s bank (Inoperative) of Issuance of the letter of credit and Seller’s bank issue 2% Performance Bond (PB) to the Buyer’s bank.
13. Once the Seller’s bank approves the content of the Buyer’s (Inoperative) Letter of credit and the Buyer’s bank approves the contract of the Seller’s (Inoperative) Performance bond, both banking security instrument’s will simultaneously become (Operative).
14. Shipment and delivery commence as per sales purchase agreement (Contract).
15. Buyer’s releases payment to Seller’s.
16. Agents/Broker payment released.
Please direct mandates or end sellers get in touch. We will not deal or respond with brokers.
Looking to close this before the end of the week.
Get in touch if you are a real seller or direct mandate and will follow the procedure.