Procedures

1. Buyers issue Letter of Intent on their “Official Letterhead” direct to our name, with CIS, company profile, and POF to show the Capacity and capability to enter into a deal as a Bank Comfort Letter to demonstrates the ability of an individual or entity to pay for a specific transaction.
2. Buyer & Seller sign an NCNDA and IMFPA with Commission Structures,
3. Buyer will provide a Swift MT199 (bank to bank) to SELLERS NOMINATED BANK,
4. Seller issues SCO/FCO to the buyer with all procedures and PRODUCT’S Specification,
5. Buyer signs & Stamps the SCO/FCO and submit with their ICPO,
6. The seller acknowledges and endorses the ICPO and Issue the Draft Contract open for Amendment,
7. Seller & Buyer sign the SPA with an agreement on each term of the deal,
8. Upon confirmation of the buyers' POF, the Seller issues PPOP with DTA (in case of CI/DIP & PAY DEAL) for the buyer to conduct SGS, and for SGS inspections to go on board the Vessel or tank farm within 48 hours to conduct Quantity & Quality inspection (DIP TEST) on buyer own expenses. (ATB, Dip).
9. Upon confirmation and satisfaction and citification by SGS for Q&Q Seller issues a commercial invoice and the Buyer pays 100% payment via MT103.
10. IN CASE OF LONG-TERM CONTRACT: Seller will issue PPOP to the Buyer bank in reply to POF and submit both parties' signed SPA to seller’s bank with agreed instruction as per PSA,
11. Shipment will commence as agreed to the buyer's designated port.

Please Note:

• As per Company Policy; we never share any document(s) with any broker or middle-man, or give a copy by hand but sign fee protection IMPA with NCNDA and that would be a part of the SPA and submitted to our bank for further action and the bank will release their fee only at the time of successful closing of the deal.
• To Enter into negotiation buyer’s POF is Must.

Tank To Tank Oil Deal Procedure

1. Buyer issues ICPO with corporate registration, passport, TSA (or NOR)
2. Seller issues CI.
3. Buyer/Seller endorse CI.
4. Seller issues the following partial POP documents with NCNDA-IMPFA:
   a) Commitment to Supply.
   b) Certificate of Origin.
   c) Authorization to Verify (ATV)
   d) Unconditional Dip Test. Authorization (DTA) to be signed by buyer and buyer tank farm and returned to the seller to
   enable seller issue the remaining PPOP documentssuch as;
   e) Fresh (24 hr) SGS.
   f) Tank Storage Receipt with coordinates and bar code (TSR).
   g) Authorization to Sell (ATS).
   h) Injection Report.
   i) Product passport
5. Buyer SGS Team conducts dip test inspection on the productsin the seller storage tank on buyer’s expenses.
6. Upon successful Dip Test, buyer issues TSR (or Q88) and product is injected in to buyer's tank storage or vessel. And once product is injected into buyer's tank/vessel, buyer pays for product CI via MT 103. Seller transfers ownership to buyer with all export documentsimmediately.
7. Seller pays commission to all intermediaries involved in the transaction within 24 hours upon confirmation of buyer’s payment.
8. Buyer reviews, and approves the SPA, and issues SBLC for 12 monthly shipment value and for each lift per schedule Buyer pays against SGS by MT103 Wire transfer on each monthly quantity.
9. The subsequent delivery shall commence according to the terms and conditions of the contract.