PET COKE

Product Details

CIF SALE & PURCHASE PROCEDURES

1. Buyer issues ICPO must be with buyer company letterhead along with Buyer company registration and Buyer passport copy..

2. Seller issues Draft Sale & Purchase Agreement (SPA) to Buyer. Buyer signs, seals and returns the SPA and the Commercial Agreement (CI) to Seller for counter signature and seal along with completed NCNDA/IMFPA for buyer-side intermediaries / agents / mandates involved.

3. Seller signs, seals and returns the Sale & Purchase Agreement (SPA) and the Commercial Agreement (CI) for the first value shipment to Buyer along with Seller’s bank verbiage and the NCNDA/IMFPA signed by all intermediaries / agents / mandates involved.

5. Within five (5) banking days, Buyer’s bank sends Irrevocable, Transferable and Divisible Operative Documentary Letter of Credit (DLC) via MT700 backed by a top 50 bank according to seller’s bank verbiage to seller nominated bank account for first month shipment..

6. Within 5 banking days from receipt of the DLC via MT700 the Seller’s Bank Issues Full PROOF OF PURCHASE (POP) Documents to the Buyer’s Bank alongside a two percent (2%) Performance Bond (PB2%). 1. Copy of license to export, issued by the department of the Ministry of Energy.

2. Copy of Approval to Export, issued by the Ministry of Justice.

3. Copy of statement of availability of the product.

4. Copy of the port storage agreement (TSA).

5. Copy of the charter party agreement (CPA) to transport the product to discharge port.

6. Copy of Vessel Questionnaire Q88.

7. Copy of Bill of Lading.

8. Copy of the SGS Report at loading port.

9. Dip Test Authorization (DTA) form.

10. Authority to Board the Vessel (ATB) form to inspect the cargo.

11. Certificate of Ownership Transfer

12. NOR /ETA.

13. Allocation Transaction Passport Code Certificate (ATPCC) by Ministry of Energy.

7. Shipment commences as per signed contract delivery schedule and the shipment should arrive at Buyer’s discharge port within 15-24 days.

8. The SGS inspection will be borne by the Seller at the loading seaport and by Buyer at the discharge seaport.

9. 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 and Seller’s bank pays all intermediaries / agents / mandates involved listed in the signed NCNDA/IMFPA.