We are able to supply multiple kind of petroleum product.
Please read the procedure before you have send any inquiry.
Buyer issues ICPO with banking details, corporate registration certificate and profile, passport copy of authorised representative and proof of fund.
Seller issues draft contract for Buyer to countersign upon acceptance of the terms and conditions which shall be returned immediately.
Buyer triggers Proof of Fund (MT199) to Seller's fiduciary bank which shall be acknowledged by return SWIFT (MT199).
Within 5 days upon receipt of POF, Seller provides partial proof of product (PPOP) to Buyer for verification;
a) Product Passport (dip test report)
b) Authorisation-to-Sell & Collect (ATSC)
c) Statement of Product Availability
d) Refinery Commitment to Supply Product e) Certificate of Product Origin
Buyer verifies PPOP and issue SBLC (MT700/760/799-Blocked) to Seller nominated bank account within five (05) days as guarantee for the product. In the event of default in the issuance of DLC / BG / SBLC within the grace period, Buyer shall be liable for charges of Storage Tank(s).
Within 5 days upon receipt of payment guarantee, Seller proceed with the Act of Transfer (Change of Ownership Title) from Seller's name to Buyer's name as legal title-holder of the product with the Ministry of Energy.
Simultaneously, Seller appoints and executes charter party agreement (CPA) with the shipping company and sends full proof of product (POP) and shipping documents to Buyer via Bank-to-Bank;
a) Approval to Export (issued by the Ministry of Justice)
b) Tank Storage Receipt
c) Certificate of Conformity
d) Full set of Bill of Lading (03 original copies)
e) Vessel Notice of Readiness (NOR)
f) Vessel Estimated Time of Arrival (ETA)
g) Marine Insurance Certificate
h) Material Safety Data Sheet (MSDS)
i) Vessel Q88 Document
j) Vessel details
k) Ullage Report
l) Cargo Manifest
m) Corporate Invoice
Upon arrival of cargo and after successful SGS/CIQ at discharge port, Buyer makes payment for product delivery to Seller's Bank via SWIFT Telegraphic Transfer (MT103) within 72 hours.
Seller pays commission to intermediaries as per MFPA within 50 hours.
