CIF REFINING AND SALES AWSP
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APPROVED TRANSACTION REFINING AND SALES FOR CIF/AWSP
- Buyer Issue ICPO + Scan copy of BUYER PASSPORT as confirmation and Acceptance of Seller Terms and Conditions for Sales and Supply Transaction.
- Seller issues Sales and Purchase Agreement open for Amendment for Buyer review, Buyer review Draft Contract Agreement issued By Seller, sign and returns copy to seller with Letter of Commitments to Follow the REFINING AND SALES Agreed by Both Parties.
- Seller reviews the Buyers signed Contract, acknowledged and send Title of Ownership Transfer Agreement Contract to Buyer, Buyer Peruse, sign and return for final execution of the Title of Ownership Transfer Agreement to Seller.
- Upon final execution of Title of Ownership Agreement Contract Signed By the Buyer, Seller issue to Buyer the Approved Authentic Legalized Contract from the Russian State Ministry of Energy , Commitments to Produce to the Product , Passport Analysis Report for the Specify Products , and Refinery certificate of incorporation to Buyer.
- Upon Buyer's confirmation of the documents, Buyer instruct his Bank to issue M199 to Seller Bank for Readiness Via Bank to Bank Communications, Seller Shall Response to Buyers Bank for Readiness to receive Buyer instruments Agreed upon on the Contract Signed by Both parties, Buyer within Seven (7) banking Days, Send Swift Operative Irrevocable Confirmed Standby letter of Credit SBLC Via Swift MT760,/MT700/BG, or (DLC negotiable) to Seller nominated Account.
- Upon Confirmations of Buyer Bank Instruments Received , Seller issues 2% PB to Buyer Bank as Guarantee of monthly shipment alone side with the full POP SHIPPING documents, customs formalities, to Buyers Bank including the SGS based on international analytical report bill of lading.
- All parties finalized signing of the NCNDA/IMFPA. Buyer will be invited by seller to witness the loading of the product and Discharge of Products at the Destination Port (At Seller and Buyer Cost, Maximum of Five Personals or Representatives, Optional).
- Seller clears vessels from the commercials terminal (Russia Shore), Buyer confirms shipping documents with ship master while seller Effects delivery to buyer destination according to contract schedule.
- Vessel arrives at destination port and Buyer conduct inspection on the goods. Upon confirmation of product quality and quantity at unloading port, Buyer release payment to Seller by TT/MT103 within 7 (Seven) banking days after the discharge of the cargo at the destination port and CIQ | SGS inspection.
- Seller release payment to all intermediaries as per signed NCNDA IMFPA within 48 hours of receiving the payment for the product from the Buyer's bank.
We do not work with long chains of brokers. This means if and when a broker approaches Global Oil and Petroleum Exploration and refining, he/she should be direct with his/her principal (end buyer or end seller).CONTACT NOW