Banking Procedure For Cif Delivery China/aswp
PROCEDURE: CIF DELIVERY FOR TRANSACTION VIA SWIFT MT700 DLC
GROSS DISCOUNT US$10.00 per Barrel.
NET DISCOUNT TO THE BUYER US$6.00 per Barrel
THE SELLER'S FACILITATORS US$2.00 PER BARREL.
THE BUYER'S FACILITATORS US$2.00 PER BARREL.
TRIAL QUANTITY: 2 MILLION BARRELS.
1. Seller releases his signed SPA.
2. Buyer confirms the SPA and signs and seals the Contract with
banking coordinates and exchanges the signed copy by electronic mail.
The electronic and signed copy by both Parties is considered legally
binding and enforceable and must not be changed.
3. The executed SPA is lodged with their respective banks.
4. Buyer issues DLC via MT700 to Sellers Fiduciary Bank Account with
Sellers agreed Verbiage.
5. Upon receiving Buyer's DLC, Seller's Fiduciary Bank verify and
confirms the DLC.
6. Sellers Fiduciary Bank issues 2% Performance Bond.
7. Seller loads the vessel in Buyers Name and issues full POP bank to
bank basis only and NOR/ETA to buyers shipping agent.
8. Seller authorizes vessel Captain to issue MATB/DTA to Buyers
Inspectors while Buyer clears the vessel and boards Inspectors who
performs timely Q&Q/CIQ analysis/inspection at Buyers expense.
9. Immediately after successful Q&Q analysis, Vessel discharges into
buyer tank farm.
10. Seller releases loaded cargo documents in favor of the Buyer and
hard copy delivered to Buyer.
11. Buyer makes full Payment via Swift MT103 Wire Transfer for total
cargo to Sellerâ??s nominated bank account within 72 hours. Seller shall
pay all commissions to agents and facilitators the same day.
BONNY LIGHT CRUDE OIL - CIF , with upfront non operative
ANY SAFE WORLD PORT
Commission: $4.00
Commission Split: $2.00 each to buyer's side and seller's side.
The commission split; and buyer's side is 100 percent opened to your buyer
NOTE: This upfront non operative two percent performance bond offer (before placing instrument), also works for DLC MT700 and block fund MT799
FULL PROCEDURE FOR DELIVERY TO ANY SAFE WORLD PORT
1. Seller issues SPA while the Buyer signs and returns with international passport, company registration certificate, CIS, ATB/NOR/ETA Format and Shipping Agent info. Seller sends his company's registration certificate and international passport
2a. BANKING PROCESS: Buyer s prime Bank issue Pre-Advice via MT799 stating RWA to issue SBLC.
2b. Seller's nominated bank responds and issues NON-OPERATIVE 2% performance bond to buyer's bank.
3 Buyers bank issues genuine SBLC via MT760 for full cargo valid for duration of the contract (366 days) while seller confirms the SBLC and pays 2% as bond to buyer
4. Seller charter & loads exclusive vessels, issues full set of vessel documents to the Buyer in the name of Buyer as the Consignee of record and authorizes Vessel Captain to move vessel to Buyers port of discharge with periodic NOR/ETA to the Buyer and Buyers Discharge Harbor/Tank Agent.
5. At the Buyers discharge port, Buyer clears the vessel and pay port & custom charges while the Captain Issues Authority To Board (ATB) to enable Buyer independent inspectors to perform Q/Q at mutually agreed location.
6. Upon successful conclusion of Q/Q analysis, inspectors release report to both parties while Seller Issue Commercial Invoice to the Buyer with exact Q/Q report figures.
7. Buyer releases full payment for cargo to Seller's nominated bank within 72 hours after inspection against Q/Q Report, Commercial Invoice and original Cargo Documents by MT-103 (cash wire).
8. Seller confirms payment & authorizes Captain to discharge cargo into Buyer s storage tank.
9. Seller pays commission to all agents involved in the transaction per the contract.
10. Seller commence subsequent shipments on simple DIP/CI/PAY basis at Buyer Port of Discharge.
Kindly request for the SPA only if buyer has accepted the full procedure
