I make it short please send me your offer for fuel products. Below please find the conditions how my client buys:
TRANSACTION PROCEDURE after the receipt of an SCO on the sellers letterhead or a substaintial offer by e-mail from the seller:
1. Buyer sends a ICPO with bank details,.
2. Seller sends FCO to Buyer, to be sign, seal and return with letter of acceptance.
3. Seller sends draft contract and NCNDA-MFPA to Buyer.
4. Buyer and Seller signs and seals contract and NCNDA-MFPA to confirm with electronic signature. Contracts are to be lodged into both Buyer's and Seller's banks.
5. Seller`s bank issues Partial POP in form of Tank Receipt, SGS report, DIP Test Authorization and Commercial Invoice for the immediately lift-able lot of the goods.
6. Upon successful execution DIP Test Buyer’s bank issues MT103/23 for the immediately liftable lot and open a non-operative RDL/C as payment guarantee for the subsequent lifts.
7. Within five (5) international banking days, Seller’s Bank issues 2% Performance Bond to Buyer’s Bank, RDL/C become Operative;
8. Delivery commences as per schedule agreed.