Find Verified Diesel Suppliers, Manufacturers and Wholesalers

Transaction algorithm:
1. The Customer provides the LOI to the Supplier for consideration and decision-making on possible cooperation.
2. The Supplier, having considered the LOI, sends a Soft Corporate Offer to the Customer.
3. The Customer, having considered the SCO, provides the supplier with an ICPO confirmed by the bank, which will take part in the transaction as a guarantor of the transaction on the part of the Customer.
4. The Supplier accepts the Customer's ICPO and submits the Full Corporate Offer (FCO) for review by the customer.
5. The Supplier submits to the Customer a Sample General Contract for the supply of goods for study and adjustments.
6. After agreeing on the general contract, the Supplier and the Customer carry out the procedure for signing the contract and its verification. At the time of signing the contract, the parties exchange the documents, which are confirmed by banks that serve the parties and conduct transactions on the transaction.
7. The customer issues Proof of Funds (POF) confirmed by the customer's bank, the Supplier transfers to the customer Proof of Product (POP) confirmed by the Supplier's bank.
8. When signing an annual contract, the Customer provides the Supplier with an annual bank guarantee in the form of a Standby Letter of Credit from a bank with an international credit rating of at least A +, this guarantee is equivalent to the cost of the monthly volume of delivery of goods and is a guarantee of payment of funds for the goods in the event of force majeure.
9. To open the Customer's bank guarantee, the Supplier shall provide a Performance Bond determined as a percentage of the price.
10. After carrying out the procedures indicated above, the process of accumulation of goods in the Port begins, the charter of the vessel is provided and the delivery of goods is carried out in accordance with the schedule of deliveries and quality and quantity checks under contractual obligations.
11. After the arrival of the goods at the port of the Customer, the quality and quantity of the goods are checked and controlled.
12. The Customer, having received the goods at the port, pays by direct payment MT 103 to the Supplier's bank account for the full amount of the cost of the goods delivered in a specific period of time. Payment is made no later than 3-5 days from the date of receipt of the goods.

Supplier's Guarantee Bank: JP Morgan Chase New York (AAA credit rating).
The customer's bank must meet international standards and have an international credit rating of at least A +. If the Customer's bank has a credit rating below A +, then the transaction is possible only if there is confirmation of the guarantees of a bank with a low rating by an international bank with a rating not lower than A +.
In other cases, the transaction will not be implemented.

The following deliveries are carried out according to the schedule, which is an integral part of the general contract.

Quantity from 50,000mt to 1,000,000 mt per month

CIF Transaction Procedures:

1. Buyer confirms Procedure / SCO, buyer issues an official ICPO and copy of CEO's passport identification.
2. Seller issues Draft Sales and Purchase Agreement (SPA/MOU) to buyer.
3. Buyer writes a letter of guarantee to perform to be presented in a signed /stamped letter of request on the buyer company's letter headed paper.
4. Buyer returns signed SPA with the letter guarantee to perform to the seller for legalization.
5. Seller reviews the signed contract acknowledged and legalizes it through the Ministry of Energy. The cost of legalization must be borne by the Seller.
6. The below notarized listed PPOP by the Export Control Department is released for the buyer's confirmation.

a) Refinery Commitment to
b) Certificate of Origin
c) Seller Certificate of Incorporation & Export License
d) Quality and Quantity Report (Product Passport)
e) Statement of Product Availability
f) NCNDA/IMFPA to be filled and structured by all groups involved
7. Seller releases to buyer the above listed Partial POP Documents and Buyer, within TWELVE {12} banking days sends agreed swift, negotiable to seller nominated account. DLC-MT700 shall be payable upon presentation of the documents specified in the procedure and shall not be activated unless and until the commodity is complete discharged at the destination port(s), and the Buyer confirms the quantity and quality of the commodity through CIQ/SGS inspection report. If the buyer fails to issueDLC-MT700 within 10 working days, the Seller shall issue an invoice to the Buyer for the remittance security guarantee deposit of 5% via TT Wire MT103 of the total value of the product cost to the seller's fiduciary bank account to secure the allocation which will be deducted from the final payment after delivery.
8. If the buyer fails to make the 5% guarantee deposit within 3 banking days, the contract will be terminated.
9. Within 72hrs of the DLC or 5% guarantee deposit Confirmation, Seller signs CPA and releases full POP document and 2%
Performance Bond (PB) to Buyer as a guarantee of monthly shipment, alongside the below list of full POP Documents, customs formalities to Buyer's Bank and buyer secure email:

a) Ship Certificates
b) Cargo Declaration
c) Fresh SGS Report
d) Charter  Party  Agreement
e) Ownership Certificate
f) Title Transfer Affidavit
g) Product Allocation Certificate
h) Ullage Report
i) Notice of Readiness
j) Customs Declaration Certificate.
k) Bill of lading
1) vessel Q88
m) ATB
n) UDTA
o) ATSC

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