SELL OFFER: MAZUT M100 GOST 10585-75 Quantity: Minimum of 50, 000 MT/per month and Maximum of 100,000 MT per month Price: Gross $560/Net $555 per Metric Ton, CIF Commission:$2.50 Buyers side/ $2.50 Sellers side per metric ton STANDARD INTERNATIONAL TRADING PROCEDURES 1. Buyer sends Irrevocable Corporate Purchase Order (ICPO) on its official company letterhead to the seller. 2. Seller Issues Full Corporate Offer (FCO) to the buyer and buyer countersign the FCO and return to the seller. 3. The parties sign and seal the present contract and exchange the copies electronically. The electronically exchanged copies will be legally binding until the hard copies are exchanged. 4. Seller takes the full responsibility of the Registration and Legalization of the amended signed and sealed draft contract. 5. Both Parties Lodge their copies of the registered and legalized hard copies of the Draft Contract with their respective banks. 6. Buyer present its import permit/certificate, buyer also provides documentary details of its storage booking at discharge port. Upon confirmation of the buyers document; 7. Seller Appoints a tested and reliable shipping company, sign the Charter Party Agreement (CPA) along with Marine Insurance Policy (MIP). Seller/Buyer negotiates and makes arrangement for the chartered freight cost with the appointed shipping company for the transportation of the product to buyers designated discharge port. Buyer and Seller will equally be responsible for the payment of the Charter Freight Cost, as gesture of the Buyers commitment on the transaction and buyer will later deduct its share of the charter freight cost from the total cost value of the product before establishing its financial instrument for the payment of the product. 8. Seller sends copies of POP and shipping documents to buyer · Copy of the charter party agreement to transport the product to discharge port · Copy of shipping schedule document . Product Analysis Report . Certificate Of Origin. . Bill of lading . Tank Receipt. . Certificate of product. 9. Buyers bank sends the Irrevocable documentary letter of credit non operative issued by the buyers bank to Sellers bank for the face value of the first whole month shipment . 10. Sellers bank sends through swift the original and full Proof of Product (POP) documents along with the 2% operative performance bond to the Buyers bank and the irrevocable documentary letter of credit issued by the Buyer’s Bank on to the Seller’s Bank will become immediately operative. 11. Seller’s Bank will confirm to Seller and to Buyer that the Irrevocable Documentary Letter of Credit has been accepted and the shipping commences as scheduled in the contract for the CIF delivery. 12. Payment will be made for the product by the Buyer’s Bank via T/T Mt 103 wire transfer to the Seller’s Bank after the CIQ/SGS inspection at port of discharge and the delivery to the Buyer’s Bank of all documents required by the contract . 13. Seller releases the commission of the intermediaries immediately. sinan35ozdemir@gmail wolmtrade
Posted on: Sun, 09 Mar 2014 09:33:54 +0000
Trending Topics
Recently Viewed Topics
© 2015