Sellers Published date: January 18, 2016 Modified date: January 19, 2016

A major D2 supplier needs a buyer asap. For first time purchaser from the seller's Refinery, only 1,000,000 BBLS, 200,000MT, will be supplied at spot deal at Novorossiysk, Primorsk, Rotterdam, Vladivostok, terminal for ability confirmation before proceeding on 12 month. contract. Kindly study the procedure properly.

PURCHASING PROCEDURES

1. Buyer receive SCO and sends LOI to seller, seller responds with FCO, buyer sign and return FCO to seller including his bank comfort letter (BCL).
2. Seller Legal department issue Draft Contract address to Buyer's Company.
3. Buyer signs each page on Draft contract and return to Seller within 3 working days.
4. Seller register and legalized the counter signed Draft Contract with Russian ministry and sends a copy of registered / legalized Draft Contract to the Buyer Company including
NCNDA/IMFPA.
5. Seller issue listed Notarize partial POP to buyer Bank via government secured courier service to buyer giving address. PPOP as listed below:
- A. Certificate of Origin of the product.
- B. Company Registration Certificate.
- C. Statement of Product Availability.
- D. Seller Export License.
- E. Commitment letter to produce the product.
- F. Attestation of allocation certificate.
- H. Analytical report equivalent to SGS.

6. Upon the confirmation of the listed partial POP Buyer Bank swift standby Letter of Credit (SBLC, DLC MT700 or BG 760 ) Conditional).
7. After confirmation of the buyer payment instrument, Seller issues to Buyer's bank the full Shipment documents and Full Proof of Product (POP) Plus 2% Performance Bond via swift
bank to bank Upon acceptance of buyer's payment instrument (DLC MT700, BG 760 0r SBLC) covering the first trial shipment by seller.
8. Seller transfer title ownership to buyer and Shipment commences as per contract.
9. The SGS inspection will be borne by the Seller at the loading seaport and Buyer at discharge Seaport
10. Buyer's bank upon arrival of the cargo at the discharge port, payment will be made for the Product by the buyer via MT103 100% within 5working day after SGS Inspection at
Discharge port.
11. Seller will release payments to the intermediaries involved within 24 hours of receiving the Payment for the product from the Buyer's bank, Signed.

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