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PETROCHEMICAL

  • South Africa South Africa  
  • Last Updated:
    Posted on: 05 Nov 2024

  • Buying Frequency: Monthly
  • Payment Terms: L/C
  • Shipping Terms: CIF
  • Destination Port: Asia, Africa, UEA
Buyer Information

RFQ Details

ONLY THIS PROCEDURE TO BUY

CIF PROCEDURE.
1. The Seller issues a Soft Corporate Offer (SCO). with the Buyer's procedure. (The procedure must be copied and pasted without any additions or changes).
2. The Buyer sends (LOI) + (BP) a bank statement for the last 12 months.
3. The Seller sends a Full Corporate Offer (FCO).
The Buyer and Seller sign (FCO) on both sides, the Seller converts to PDF format and sends a copy to the Buyer.
4. The Buyer sends the Seller (ICPO) + (BCL).
5. The Seller, on the basis of (FCO) + (ICPO), prepares and issues to the Buyer a draft Draft Contract for additions or changes, if any.
6. The Buyer checks and signs the Draft Contract and sends it to the Seller, the Seller signs the Draft Contract and renames the document into the main Contract, converts it into PDF format and sends a copy to the Buyer.
7. The Buyer's bank issues non-operational SBLC МТ760 of the monthly delivery batch, for the entire period of the contract 365 + 1 day.
8. Seller's bank, opens PB2% on the cost of a monthly delivery batch, for the entire period of the contract 365 + 1 day, and this will activate Buyer’s SBLC too simultaneously.
(PB and SBLC will be simultaneously activated.)
9. Seller charters vessels, loads the vessels and sets sail for Port of Discharge.
10. Upon arrival in Port of Discharge, and discharge, (Port Clearance is at buyers expense) SGS is conducted by Buyer’s nominated Inspection company.
11. The final payment for the goods will be made by the Buyer after SGS, via SWIFT via MT-103/T/T.


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