Dear Sirs who has the seller with the vessel in the Chinese waters and is ready to adopt this procedure? We will sign immediately annual contract with MT799,
I ask not to ask POF,
Best regards, Alex
Nominations, Shipment & Procedures
1. Buyer and Seller sign SPA and lodge the SPA at their respective banks.
The electronic transmitted copy signed by both parties shall be considered legally binding and enforceable until hard copy originals are executed and exchanged.
2. Seller issue Marine Clearance, which is issued by the China Harbor Authority.
Buyer’s bank formally issues MT799 fund block for the entire cargo in favor of the Seller after successful verification of the Marine Clearance which is issued by the China Harbor Authority.
The Shipping agent handling the Marine Clearance will be instructed and validated that the Buyer will be the consignee after the Seller’s bank receive and verify the MT799.
3. Seller delivers documents clearance after confirming instrument.
4. Seller instructs vessel captain to issue MATB and buyer arranges CIQ to initiate the Q&Q.
5. Buyer makes full payment for the entire cargo to Seller’s nominated bank account and simultaneously pays commissions to facilitators via MT103/TT after the successful Q&Q test report is done.
6. Title documents transfer to Buyer in Buyer’s name.
7. Contract commences.
- Publisher: Alex
- Company Name: Leningrad Region
- Country: China
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