2. Buyer confirms FCO and Issue an Irrevocable corporate purchase order ICPO
3. Seller issues Draft Contract and sends it to the buyer; Buyer returns it signed and sealed to the Seller.
4.( a)Buyer Bank send a Free Format RWA Via SWIFT MT199 Bank to Bank confirmation that the Buyer is a client of the Bank and has the financial capability to handle this contract.
5. (b)Buyer acquire Mandate ship/Authorization to Buy/sell and Register signed approved Contract with Partial Proof of Products (PPOP) to Russian authorities through approved legal/Trust company.,(Applicable for Reseller) Seller issue Below Partial Proof of Products to Buyer:
a) Copy of Refinery certificate of incorporation b) Copy of Statement of availability of the product; c) Copy of the Tank Storage agreement d) Copy of the Charter Party agreement e) Copy of quality and quantity Q&Q (indigenous analysis report) f) Commercial Invoice (CI)
6. Buyer's Bank issue an irrevocable SBLC-BG-DLC via SWIFT MT 760/700 for the face value of each single shipment to sellers bank coordinate , Sellers Bank Issue 2% Performance Bond (PB) and below Full Prove of Product (FPOP). a) Copy of Vessel Questionnaire 88.
b) Copy of Bill of Lading. c) SGS Report at loading port. d) Dip test Authorization (DTA) e) Authorization To Board ATB f) Cargo Manifest g) Ownership title Transfer to the buyer
7. Shipment commences as per signed contract delivery schedule and the shipment should arrive at Buyer’s discharge port within 10 - 12 days.
8. Buyer releases payment within 3-5 working days to Seller by TT/MT103 upon receipt of the shipping documents and confirmation of the Q & Q by SGS/SAYBOLT at unloading port.