PROCEDURES OF TRANSACTION (CIF)
1. Company Energy provides to buyers:
a) Soft Corporate Offer (SCO)
b) Template ICPO Format
2. Buyer provides to Seller:
a) Official ICPO confirmed by Buyer’s Bank and providing Buyer’s Bank details, addressed to: The Seller
b) Copy of Buyer Scan Passport
c) Buyer’s Company Profile in PDF file
d) Update BCL if Bank Buyer does not sign the ICPO
3. Seller provides to buyer Draft SPA (Sales Purchases Agreement) For review, completion or any correction. Then the buyer sends the signed Draft SPA back to Seller Via Email
4. Seller provides to buyer “Proforma Invoice” and Buyer sign proforma invoice and email back to Seller
5. Within 5 banking days, Buyer’s bank sends Swift Operative Irrevocable Confirmed Standby Letter of Credit (SBLC) via Swift MT760 to seller (Fiduciary) bank outside Russia and send swift copy to Seller.
6. Seller issues Full POP and Shipping Documents, 2% PB Including:
Copy of Commercial Invoice.
Copy of Approval to License certificate.
Copy of Statement of Availability of the Product.
Copy of the Refinery Commitment to Produce the Product.
Copy of the Transnet Contract to Transport the Product to the Port.
Copy of the Port Storage Agreement.
Copy of the Charter Party Agreement(S) To Transport the Product to Discharge Port.
Dip test Authorization, Tank receipt and SGS report.
Copy of Vessel Questionnaire 88
Copy of Bill of Lading.
Certificate of Origin.
Allocation Transaction Passport Code Certificate [ATPCC]
The customs formalities, and test report to buyer/Bank.
7. Delivery & Payment:
SHIP TO SHIP:
Buyer submits his Vessel information. Q88, CPA and Location Clearance. Vessel Captains contact each other and coordinate boarding of vessel for buyer’s inspectors. Upon successful dip test, Buyer pays for product using MT-103 / TT by Wire transfer delivered into vessel, 100% payable for each shipment within 1-2 banking days upon the cargo passed SGS.
SHIP TO BUYER’S PORT:
Seller or Refinery loads the vessel, inspects the product on-board the vessel and deliver the product at a mutually agreed safe port. At the delivery port, the buyer will conduct his own inspection to ascertain the quantity and quality of the product. Upon successful dip test, Buyer pays for product using MT-103 / TT by Wire transfer delivered into vessel, 100% payable for each shipment within 1-2 banking days upon the cargo passed SGS.
8. Product is transferred to buyer’s vessel with all shipping documentation and title is transferred to buyer.
9. Seller pays commission to Seller Side and Buyer side commissions:
A. 50%: Seller Side: (50% Closed to Seller Side)
B. 50%: Buyer side: (50% Open to Buyer Mandate & Intermediaries)
C. The agreed commission will be included within an Irrevocable Master Fee, Protection Agreement (IMFPA) to be signed between the buyer and the seller, of each party prior to issuance of the Sales and Purchase Agreement (SPA).
10. Bank Buyers Will issue New SBLC or BG Expansion for 12 Months for Subsequent Shipping and Seller opens 2% PB to buyer bank for 12-month contract sales of products.
Other products we offer
We work with a range of sellers who can offer the following products;
DIESEL-GAS OIL L0.2-62 GOST 305-82 (DIESEL D2)
DIESEL EN590 10PPM
RUSSIAN VIRGIN FUEL OIL D6
MAZUT FUEL OIL 100 GOST 10585/75-99 (MAZUT M100)
AGO AUTOMOTIVE GAS OIL FLASHPOINT 66
(LCO) RUSSIAN LIGHT CYCLE OIL
GASOIL 500PPM / 50PPM
Enquiries can be made by issuing an LOI or email stating the following:
1. Name of the product
2. Quantity required (in correct units please)
3. CIF or FOB Delivery basis and port
4. Contract term e.g 12 months
5. Name and country of Buyer’s bank.
6. Expected date of first delivery.
7. Buyer to please confirm whether he can issue an SBLC MT760 or DLC MT700.
Please do request for quotation for one product at a time.