Wholesale Diesel Fuel EN590 10PPM

Product Details

SELLER WORKING PROCEDURE

1. Buyer issues ICPO with buyer company letterhead.

2. Seller issues Draft SPA (open for any amendments) to Buyer. Buyer signs, seals and returns the Draft SPA to Seller for final endorsement. Seller signs and returns SPA to Buyer along with the Commercial invoice (CI) for the first value shipment and the below PPOP.

(A) Seller Irrevocable Commitment to Supply

(B) Statement of availability of product

(C) Certificate of origin

(D) Copy of the refinery commitment to produce the product.

(E) Copy of license to export, issued by the department of the Ministry of Energy.

(F) Copy of Approval to Export, issued by the Ministry of Justice

3. Buyer signs and returns the CI and within 5 banking days Seller sends copies of the FULL POP to Buyers.

a) Transnet contract to transport the product to the loading port.

b) The charter party agreement (CPA) to transport the product to discharge port.

c) The Vessel Questionnaire Q88.

d) The Bill of Lading.

e) The loading port Tank Storage Agreement (TSA).

f) The loading port Tank Storage Receipt (TSR).

j) The SGS Report at loading port.

k) The Dip Test Authorization (DTA) at discharge port

l) The Authorisation To Board (ATB) at discharge port

m)The NOR /ETA.

n)The Certificate of Ownership Transfer.

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

p) The Authority To Sell and Collect (ATSC).

4. Buyer’s bank sends Irrevocable, Transferable Operative DLC via MT700 to sellers’ nominated bank account for first month shipment..

5. Seller’s Bank Issues Full POP Documents to the Buyer’s Bank alongside with 2% Performance Bond (PB2%).

5. Shipment commences as per signed contract delivery schedule and the shipment should arrive at Buyer’s discharge port within 14- 21days.

6. 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