EN590

Product Details

Direct connection to seller (no long broker chain) - Must have a top 20 bank.

EN590

Calculated QUANTITY : 500,000 MTS a month for 12 months

ORIGIN : Kazakhstan

INCOTERMS : CIF

DELIVERY : Shipment will be arranged immediately after confirmation of the instrument of payment.

PAYMENT TERMS : Irrevocable, transferable and Confirmed SBLC as Guarantee – payment by MT103 after product’s Q&Q at arrival port.

PURCHASE PROCEDURES: (C.I.F)

1. The buyer sends proof of funds among with ICPO indicating the product, quantity and ports of

delivery with, company profile and company registration certificate.

2. The seller issues a draft contract open for amendment; the buyer review, sign and returns

within 4 working days.

3. Seller legalize and notarize the contract with the following PPOP documents and send to buyer;

A. Local analysis test done on the products in the refinery.

B. Commitment letter to supply.

C. Statement of availability of the products.

D. Authorization to sell and collect.

4. Buyer shall lodge the PPOP documents with the relevant authorities at country of destination

and buyer bank shall verify on the product supply and contract terms, if possible, from the seller.

5. Upon completions of the verification, Buyer shall issue SBLC of the total cost of the product in

accordance with seller bank verbiage within 7 bank working days.

6. Upon seller bank successful receipt and confirmation of SBLC from the buyer's bank, seller shall

immediately issue. Non circumvention and non-disclosure agreement (NCNDA), and irrevocable master

fee protection agreement (IMFPA) to buyer.

7. Seller issue DIP test authorization to buyer and upon positive completion of the dip test within

72hrs, SGS report will be sent to buyer.

8. The seller sends electronically complete information about the vessel and Q88 to the buyer.

9. Upon the discharged of the products into the buyer's storage facility, buyer's bank shall release

balance payment of the total value of the products within 5 working days via MT103/TT, and the title

of the product ownership shall be transfer to the buyer fully.

10. Seller shall pay all parties involved in this transaction according to the signed NCNDA & IMFPA via MT103/TT within 48hrs.