Procedure: CIF Standard with DLC / SBLC Payment Method
⦁ Buyer submits an official LOI (Letter of intent) with KYC (Know your client) and a verifiable bank letter (BCL) or RWA bank-to-bank via SWIFT MT799, confirming that the client has financial capability to cover the cost of the product in the quantities specified in the LOI.
⦁ The Seller issues the Sales Purchase Agreement (“SPA”) and the Performa Invoice (“PI”) for review.
⦁ The Buyer and the Buyers-Bank check carefully the SPA and PI and signs both of them. Any necessary changes or additions can be done just in accordance with the Seller. Seller signs and Signed contracts to be lodged at the respective banks.
⦁ The Seller provides the following PPOP documents: a- Certificate of Origin.
⦁ Letter of Commitment from the refinery to supply the product.
⦁ Allocation Number in Buyer’s name.
⦁ Within 5 banking days upon receipt of PPOP documents, Buyer issues fully funded SBLC MT760 to Seller’s NOMINATED bank. Upon Bank confirmation of Instrument, Seller within 48 hours issues the order to the Refinery and within 5 banking days issues 2% PB.
⦁ Seller coordinates with the refinery export department the loading of product; time frame will be estimated at 10-21 days Ex-Tank Refinery Loading Port. Upon completion of loading the full set of POP documents will be issued and sent to Buyer, including IMO/MMS/Vessel(s) Name.
⦁ Seller confirms readiness of registered vessel (ETA) for LAYCAN Birth at Buyer’s port of discharge and Buyer provides Seller the LAYCAN / BIRTH window dates and Seller confirms it with Refinery for refinery’s (ETA) final confirmation and notifies the buyer.
⦁ Seller issues full original POP documents to buyer via courier. Buyer is the consignee. Seller notifies buyer of clearance for Vessel to set sail to buyer’s nominated port. Undertaking that all the costs to CIF …. Port waters is covered by the Seller. Charter party, BL and ownership title will be transferred to buyer on receipt of payment at Off-loading ports.
⦁ Payment with (TT) wire transfer will be within 7 days at discharge port, after SGS/SAYBOLT inspection is issued.
GENERAL To be according to INCOTERMS 2010 and latest amendments unless otherwise stipulated in this contract. English Law to apply with the non-exclusive Jurisdiction of the High Court in South Africa.
SHIPPING DOCUMENTS LIST WILL CONSIST OF THE FOLLOWING:
⦁ Clean Ocean Bill of Lading, One (1) Original and three (3) copies.
⦁ Sellers Commercial Invoice, One (1) Original and three (3) copies.
⦁ Copy of Platt’s indications to support the invoice value (not required as pricing is fixed).
⦁ Certificate of Origin, One (1) Original and three (3) copies.
⦁ Master’s receipt for samples.
⦁ Master’s receipt for Documents.
⦁ Ullage report issued at loading terminal, One (1) original copy.
Cargo Manifest.
⦁ Tanker Time Sheets, One (1) Original and two (2) copies.
⦁ Original Quality and Quantity certificates plus two (2) copies as issued at loading port and discharge port by an Independent surveyor company,.
⦁ Custom Clearance at the loading port, One (1) Original and two (2) copies.
⦁ Authority to Sell (ATS).
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Contact : Catherina ( Bernadeth) +1-647-482-8381
Email: ceo@uniqueinttradelink.ca
uniqueberny@gmail.com