1. Buyer issues ICPO must be with buyer company letterhead, passport copy and company registration certificate.
2. Seller issues Draft Contract (open for any amendments) alongside International Criminal Court for the Prevention of Disregards and Breach of Contract (ICC) three party agreement, to be endorsed by all three parties; this agreement is a guarantee to adhere to the terms of the contract. Buyer signs, seals and returns the Draft Contract to Seller for final endorsement.
3. Sellers lodges SALES PURCHASE AGREEMENT and Delegate Inspection Approval form to Georgia Ministry of Energy for legalization / Endorsement for Theft Insurance, Notarization, and Legalization of SPA at buyer’s cost(23,345.00 USD) only.
4. Upon completion of procedure (3), Seller releases POP cleared of Legalization and Notarization
charges to buyerfor verification and seller issues Partial proof of products.
a) Refinery Commitment to Supply.
b) Certificate of Origin.
c) Statement of availability of product.
d) Product quality passport (Analysis test Report) by Gost standard
5. Within 7 banking days, Buyer’s bank issues a non-operative DLC via MT700 or SBLC MT760 according to seller’s verbiage to sellernominated fiduciary offshore bank account for first month shipment. Should buyer fail to issue payment instrument,buyer make payment in Escrow Deposit of ($520,000 USD) into seller nominated Escrow Account, for transactionguarantee to enable seller charter vessel and commence shipment, and this payment will be deducted from the totalcost of product after inspection at discharge port..
6. Seller’s Bank issues Full POP Documents to the Buyer’s Bank alongside with the 2% Performance Bond
(PB)within 10 working days after received DLC or SBLC.
a) Copy of license to export, issued by the department of the Ministry of Energy.
b) Copy of Approval to Export, issued by the Ministry of Justice.
c) Copy of statement of availability of the product.
d) Copy of the refinery commitment to produce the product.
e) Copy of Transnet contract to transport the product to the loading port.
f) Copy of the port storage agreement.
g) Copy of the charter party agreement to transport the product to discharge port.
h) Copy of Vessel Questionnaire Q88.
i) Copy of Bill of Lading.
j) SGS Report at loading port.
k) Dip test Authorization (DTA) & ATB
l) NOR /ETA
m) Certificate of Ownership Transfer.
n) Allocation Transaction Passport Code Certificate (ATPCC) by Ministry of Energy of Georgia.
o) Insurance policy of the cargo
7. Shipment commences as per signed contract delivery schedule and the shipment should arrive at buyer’s dischargeport within 5-25 days. The SGS inspection will be borne by the Seller at the loading seaport and Buyer at theunloading seaport.
8. Buyer releases payment to Seller by TT/MT103 upon receipt of the shipping documents and confirmation of theQ &Q by SGS/CIQ at destination port.
9. Seller pays commission within 48 hours by swift MT103 to all intermediaries as signed NCNDA/IMPFA