Please quote for the following wholesale product requirement -
Product Name: Rebco or Bonny Light Crude Oil
Specifications :
Crude Oil from Russia
Qty: 2M of barrels per month x 12 month
Price: CIF China US$
Procedure CIF as follows.
The supplier has to meet these 9 points! Buyer does not send LOI. After SCO he will send ICPO !
CIF procedure
1. The seller issues a Soft corporate offer (SCO) on its letterhead for buyer's review and due diligence along with a satisfactory refinery supply letter that includes its agreements or a letter that it has the agreements in place.
2. After due diligence by the buyer, the seller issues a contract to be signed.
3. The buyer signs and concludes the contract with the seller according to the terms of the contract.
4. The seller's bank issues 2% non-operational PB to the buyer's BANK after signing the contract within 5 working days.
5. Within 10 business days, the buyer's bank will issue an irrevocable documentary letter of credit to the seller's bank upon receiving the 2% non-operational PB and the DLC will automatically activate the 2% PB.
6. The seller's bank issues the complete POP documents to the buyer's bank within 5 days of receiving the DLC.
PoP to be inclusive but not limited to:
Copy of the export license, issued by the competent Ministries.
a) Copy of export approval.
b) Copy of the declaration of availability of the product.
c) Copy of the refinery's commitment to produce the product.
d) Copy of the contract for the transport of the product to the port of loading.
e) Copy of the port storage contract.
f) Copy of the rental agreement for the transport of the product to the port of disembarkation.
g) Copy of the Vessel88 questionnaire.
h) Copy of BillofLading.
i) SGS report at the port of loading.
j) Dip test authorization (DTA) and ATB.
k) NOR / ETA.
l) Certificate of Transfer of Ownership.
m) Manifest of cargo.
7. Payment, the buyer's bank pays with the (DLC) to the seller's bank after the CIQ report at the port of discharge.
8. Shipment commences according to the signed contract delivery schedule and shipment should arrive at Buyer's port of discharge within 30 days (to be negotiated with seller). SGS / CIQ inspection will be paid by the seller at the sea port of loading and by the Buyer at the sea port of unloading.
9. The Buyer will ensure that an internationally recognized first-rate Independent Surveyor Company, such as CIQ, once appointed by the seller, inspects and reports the result of the inspection after the ship has arrived at port. LC will be paid in full at the time of the inspection report at the port of landing.
