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www.TradeHolding.net - Procedure for Fuel and Crude / Sept08, Product by IBEX S.l.
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Product Details

Procedure for Fuel and Crude / Sept08

IBEX S.l.
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Product Description:
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PROCEDURES:
A Buyer issues fresh LOI or ICPO with full banking details
B Seller/Assigned issues FCO
C Buyer signs, seals the FCO and send CLEAN, CLEAR scanned copies by return email to Seller/assigned; to the Seller’s representative. For draft contract which is to be signed electronically by the corporate Buyer.
D Seller signs and seals contract, lodges it with his bank, sends it to the Buyer for his action with his bankers to send the pre advice of Non Operative RDLC SWIFT callable/payable/revolving. A copy of the swift dispatch to the Seller’s bank is sent by email to: (to be presented)

Pre- Advice Non Operative RDLC Conditions:
1.Within 5 banking days of
receiving the Pre-Advice non operative RDLC SWIFT, Seller will issue 2% Performance Bond (no Cash Bond) and POP.
2.Within 6-10 banking days, the Buyer’s Bank, on receipt of the 2% Performance Bond and the POP, will immediately lift the restriction of the non operative RDLC, thus making it an operative instrument.
3.The Seller will present the POP to the Buyer on an EDT basis by mutual agreement, Bank to Bank with copy to Buyer, with:
i.Copy of license to export, issued by the ministry of energy.
ii. Copy of approval to export, issued by the ministry of justice.
iii. Copy of statement of availability of the product.
iv. Copy of the refinery commitment to produce the product.
v.Copy of Transneft contract to transport the Product to the Port storage tank (s).
vi. Copy of the Port Storage agreement.
vii. Copy of surveyor’s certification of quality and quantity at loading port.

E After receipt of 2% Performance Bond, Buyer issues invitation to Seller to proceed to his destination for a TTM to sign Contract Original Copies and for TTM on shipping outlay and other relevant details.
F Seller charter vessels and the charter agreement will include endorsement stating and include Buyer’s name with assigned quantities. Seller loads the cargo and get ready with all documentation.
Other Details:

Offered by: IBEX S.l. (View Showroom, Create your own Showroom)
Place of Origin: Russia (More Products from Russia)
Stock Location: Russia
Quantity: Not Specified
Packaging: Not Specified
Price: Not Specified
Product Seller Classification: Chemicals - Petroleum Products: Fuel Oil
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