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Delivery Period:
First
Shipment to leave loading port 15-30 days
from receipt of Operative instrument (RDLC)
Payment:
Payment will always be in USD and irrevocable, transferable,
Revolving Documentary Letters of Credit (RDLC). The RDLC will be
opened and Confirmed by a top 50 prime World Bank, payable 100% at
sight against documents.
PB: 2%
of monthly value
Specifications of Oil:
DIN
51605
To be
confirmed. Sample will be shipped to verify Specifications.
Procedure:
1. Buyer issues ICPO +Soft Probe and included evidence of financial
instruments that will be used for the payment and delivery port.
2. Seller sends FCO (Full Corporate Offer)
3. Seller sends draft contract
4. Buyer negotiates/marks changes in draft contract and send it back
to seller (signed, sealed, initialed)
5. Seller signs, seals and initials this – now final – contract and
sends back to buyer
6. Seller couriers 6 hard copies of the contract to buyer
(initialed, signed and sealed) – buyer returns 3 of these hardcopies
(initialed, signed and sealed) back to seller.
7. Seller send POP Bank to Bank and Buyer respond with POF
8. Buyer’s Bank send payment instrument (RDLC) within 5 working days
of receipt of hard copies as per Pt.
9. Seller sends PB to make payment instrument operative
10. Deliveries start as per contract (first shipment 30 to 45 days
after receipt and acceptance of RDLC in seller’s bank) |