Procedures as below:

1. Buyer issues ICPO must be with buyer company letterhead and buyer banking information and buyer any form of identification (preferably international passport).

2. Seller issues draft contract (open for any amendments) to buyer. Buyer signs, seals and returns the draft contract to seller for final endorsement with their confirmation letter to confirm that they are willing and able to complete the transaction without changing seller’s procedures.

3. Seller sends legalized contract and below partial proof of products documents to buyer:
A) statement of availability of the product.
B) commitment to supply.
C) product allocation export license.

4. Buyers bank per sellers verbiage shall issue SBLC within six (6) working days for first shipments value to sellers financial bank to enable the seller to commence loading of a product with the shipping company. Seller to finalize loading within six (6) working days.

5. But if the buyer fails to issue SBLC within six (6) working days, as an alternative provision buyer pays 2% of the total product value directly to the shipping company or a payment account designated by the seller via mt103 as a transaction guarantee which will be deducted from the product’s invoice value of the product at the destination port.

6. After confirmation by sellers bank, the seller at own expense, charters with shipping/logistic company and alert buyer on shipment ordered graphic/schedule accompanied with the submission of nominated vessel details to the buyer.

7. Sellers bank responds with contractual operative 2% PB and full pop to buyers bank within 72 hours since buyer’s instrument confirmed by sellers bank
A copy of the port storage agreement.
B. Copy of the cpa, to transport the product to discharge port.
C. Vessel q88. Original BL (full set).
E. Copy of SGS report.

8. Upon successful product confirmation against the SGS/CIQ report of quality and quantity at the destination port, the buyer makes payment by mt103. The seller pays commissions to all intermediaries involved in the transaction as per NCNDA/IMFPA within 48 hours upon confirmation