- To begin introductions, please provide us with an LOI on your business letterhead along with your CP. Please ensure the LOI includes product, volume, CIF delivery location needs along with full contact info and website. Upon review & approval, FCO is provided within 8-24 Hours (M-F).
- Buyer sends ICPO to Seller on receipt of FCO including Buyer’s banking information, CP, Business Registration, KYC, and Passport.
- Seller issues Draft Contract or Signed Purchase Agreement (SPA)(open for any amendments) to Buyer. Buyer signs, seals and returns the Draft Contract to Seller for final endorsement.
- Buyer’s bank send an SBLC-BG via SWIFT MT760 to Seller’s nominated bank account for first month shipment and Seller’s Bank issues Full POP Documents to the Buyer’s Bank along 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) & ATB
l) NOR / ETA
m) Certificate of Ownership Transfer
n) Attestation of Allocation Certificate endorsed by Ministry of Energy
- 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
- Buyer releases payment to Seller by TT/MT103 upon receipt of the shipping documents and confirmation of the Q & Q by SGS/CIQ at destination port.
If you are financially and logistically ready to purchase, we invite you to be in touch to discuss your product delivery needs.