1. Buyer sign contract with the Intermediary.
2. Buyer send LOl to the Seller trough the Intermediary.
3. Buyer send the Oil terminal contract / proof to the Seller trough the Intermediary.
4. Seller send the Offer to the Buyer trough the Intermediary.
5. Buyer signs Seller’s FCO trough the Intermediary.
6. Seller send draft contract to the Buyer trough the Intermediary.
7. After point 6, Buyer and Seller agree on-eventual amendment’s to the contract trough the Intermediary.
8. Seller send Proof of product to Buyer trough the Intermediary.
9. Seller and Buyer sign the contract trough the Intermediary, notarised in both countries.
10. Buyer send to Seller MT 103/ MT 199 / MT 799 blocked funds, Cash Backed, Transferable and Divisible.
11. Seller send to Buyer complete Proof of product of the laden vessels:
1. Copy of License to Export, Issued by the Ministry of Energy Department.
2. Copy of Approval to Export, Issued by the Ministry of Justice Department.
3. Copy of Statement of Availability of the Product.
4. Copy of the Refinery Commitment to the Product.
5. Copy of the Contract to Transport the Product to the Port.
6. Copy of the Port Storage Agreement.
7. Copy of the Charter Party Agreement(S) To Transport the Product to Discharge
8. Copy of the Resource Certificate.
9. Copy of allocation Number.
10. Seller send the Invoice, Buyer accept it by counter signing
12. Upon arrival of the vessel at Buyer discharge port Buyer orders inspection of SGS/CIQ/INTERTEK/CCIC/SAYBOLT.
13. Buyer hands out his TSR
14. Product is stored in Buyer’s Tank
15. Seller issues to Buyer Title of Ownership Certificate.
FOR MORE DETAILS OR OTHER SUGGESTIONS, PLEASE CONTACT US.