D6 Annual contract ( 12 months ) Quantity to conform 100,000,000 Gallons

Product Details

Description

Product: D6 Annual contract ( 12 months ) Quantity to conform 100,000,000 Gallons monthly

ORIGIN: KAZAKHSTAN

LOADING PORT: BATUMI PORT, GEORGIA

DISCHARGE PORT: CIF, ANY EXCEPT HUSTON AND ROTTERDAM.

PAYMENT: BANK GUARANTEE OR SBLC EITHER FROM PRIME BANK FOR THE AMOUNT OF ONE OR TWO SHIPMENTS
CONTRACT PAYMENT: SBLC AS PER VERBIAGE PROVIDED VALID FOR 13 MONTHS FROM PRIME BANK, MT103 FOR EACH SHIPMENT.
PERFORMANCE BOND: 2% APPLICABLE FOR EACH MONTHLY QUANTITY, REVOLVING FOR THE ENTIRE CONTRACT PERIOD BUT NOT THE TRIAL SHIPMENT.
REMARKS: SUBJECT TO MAJOR FORCE.
SHIPPING COMMENCEMENT: SHIPMENT STARTS WITHIN 20-25 DAYS OF CONFIRMING THE BUYER FINANCIAL INSTRUMENT.

TRANSACTION CIF PROCEDURE

1. BUYER WILL ACCEPT THIS SCO BY SIGNING & STAMPING ACCEPTANCE PAGE AT THE END OF SCO, AND STAMPING ON THE SPECIFICATIONS PAGE. THEN ISSUES ICPO WITH COMPANY REGISTRATION CERTIFICATE AND REPRESENTATIVE VALID IDENTIFICATION DOCUMENT, WITH BANK COMFORT LETTER BCL.
2. SELLER ISSUES SPA OPEN FOR AMENDMENTS.
3. BUYER RETURNS THE SPA DULY SIGNED VIA E-MAIL TO CONSULTANTS WHO SENDS TO THE SELLERS. BUYERS BANK PROVIDES DRAFT COPY OF SBLC OR BG TO THE SELLER FOR APPROVAL BY THE SELLER AND HIS BANK.
4. SELLER SENDS THE FOLLOWING POP DOCUMENTS TO BUYER THROUGH ITS AGENT WITHIN 7 TO 9 DAYS AFTER RECEIPT OF FINANCIAL ACCEPTABLE INSTRUMENT AT SELLERS BANK.
* COMPANY STATEMENT OF AVAILABILITY OF THE PRODUCT.
* COPY OF PRODUCT PASSPORT ANALYSIS THROUGH SEPARATE LAB.
* CHARTER PARTY AGREEMENT (CPA) AS A COMMITMENT TO SUPPLY THE GOODS.
5. WITHIN 5-7 BANKING DAYS, BUYER’S BANK SENDS SBLC OR BG FROM PRIME BANK OR CONFIRMED BY PRIME BANK FOR TRIAL SHIPMENT VIA MT760 (ACCORDING TO SELLER’S FIDUCIARY BANK VERBIAGE), TO SELLER NOMINATED FIDUCIARY BANK ACCOUNT FOR THE VALUE OF ONE-MONTH SHIPMENT VALID 60 DAYS FROM DATE OF ISSUE FOR TRIAL SHIPMENT. THEN FOR REGULAR YEARLY CONTRACT WILL BE 14 MONTHS SBLC FOR TWO MONTHS VALUE.
6. SELLER WILL KEEP THE BUYER FULLY INFORMED OF THE SHIPMENT AS PER SPA.
7. SHIPPING COMMENCES AS PER CONTRACT. UPON ARRIVAL OF CARGO AT DISCHARGE PORT, PAYMENT IS EFFECTED VIA MT103, WITHIN 3 DAYS AFTER SUCCESSFUL SGS INSPECTION/REPORT AND AGAINST PRESENTATION TO BUYER’S BANK OF COMPLETE SET OF EXPORT DOCUMENTS. SELLER TRANSFERS THE TITLE OWNERSHIP TO BUYER

• SELLER AND BUYER MAINTAIN COMMUNICATION LINK AS STARTED THROUGH THE AGENTS WHICH IS A MUST FOR SMOOTH TRANSACTION.
• SBLC/BG WILL BE RETURNED BACK UNTOUCHED IF BUYER PAYS THE
  SHIPMENT BY MT103 WITHOUT DELAY IN THE SPECIFIED TIME FOR ALL
  SHIPMENTS INVOLVED FOR 1ST AND 12 MONTHS SHIPMENTS.
• SBLC IS A GUARANTEE FOR PAYMENT BY THE BUYER FOR EACH SHIPMENT.
• 2% PERFORMANCE BOND IS A GUARANTEE FOR SHIPMENT BY THE SELLER.