1. Buyer confirms Sellers SCO and issues detailed Irrevocable Corporate Purchase Order
(ICPO) on acceptance of Seller’s given CONDITIONS.
2. Seller issues Draft Contract for buyer open for amendment and sign, and send back to seller within three (3) banking days.
3. Seller registers and legalizes the draft contract with the Russian Ministry through the Seller
Legal Law-Firm, on Seller’s cost and sends registered and legalized Contract with partial POP Documents to Buyer via Email as lists below.
1. Certificate of Origin of the product
2. Company Registration
3. Export License
4. Seller Commitment Letter to supply
5. Commercial Invoice (CI)
6. Seller Representative Passport Copy
7. NCNDA / IMFPA
4.a) In receipt and confirmation of the above Partial POP documents, the Buyer issues the agreed Irrevocable, Transferable, or Non-Transferable, Operative SBLC-MT760 or DLC MT700, equivalent To Monthly Shipment Value as a guarantee of payment from top 50 rated banks.
4.b) IF BUYER FAIL to issue –SBLC MT760 or DLC-MT700 within 7 working days, buyer shall Make guarantee deposit of 5% of the first shipment value by TT wire transfer for security guarantee to enable seller charter vessel and commence shipment, and this payment will be deducted from the total cost of product after inspection at discharge port, or contract will be suspended against buyer for defaulted.
5. Seller issue/swift 2% PB to buyer’s bank along with full POP documents with shipping the documents as lists below via bank to bank and Email, as the loading commence immediately.
- Government ATPCC Approval
- Certificate of Quality and Quantity of Product
- Vessel Q88 Document / Train
- Vessel (NOR) Notice of Readiness
- Train / Cargo Manifest
- Fresh SGS
- NCNDA / IMFPA endorsement via Seller Bank
6. Shipment commences and upon arrival of the vessel tanker at the discharge port, buyer conducts own SGS Inspection and makes payment for the full shipment via TT Wire or MT103 within 72 hours according to Q&Q report. Seller transfers title of the product to buyer.
7. Payments to the intermediaries involved in NCND/IMFPA signed by all parties within 72 hours upon receiving payment of the product from the Buyers bank, second shipment proceed accordingly.
The seller’s bank account outside of Russia Federation is to pay Commission by TT or unconditional
SWIFT MT103 to all the intermediaries involved in NCNDA/ IMFPA it must be the same bank account outside of Russia Federation for buyer to make payment by MT103/TT of the product against Q&Q by CCIC.