000MT) herewith sellers procedure : 9.0 Contract Procedures
1. The Seller issues Draft Sales and Purchase Agreement (SPA) and upon reconciling any differences, the parties shall execute and lodge the SPAs in their respective banks.
2. After signing the Contract the Buyer issues within two banking days the SWIFT MT199 for the amount of the first lot of 300.000 MT.
3. Seller issues by SWIFT the Tank storage receipt, Confirmed SGS report, Dip test permission and Commercial Invoice.
4. Upon receipt and check of the TSR and SGS Report, the Buyer opens an irrevocable, transferable(once), confirmed, divisible, Documentary Letter of Credit, equivalent to the amount of 1-st lot of 300.000 MT, as evidenced by the relevant TSR and SGS Report, valid for whole contract period as payment guarantee for the last deliveries.
5. Loading commences in accordance with the schedule.
6. The payment is made by means of direct payment to the Seller’s
account within 3 days from the date of B/L to the product actually loaded and transfer of title. If sellers procedure is not workable for your buyer just drop it because seller will not negotiate .
Thank you in upfront for your understanding .
Regrads,
MIB
+2348056854329
mibconcept@gmail.com,milkyway4life@ymail.com
1. The Seller issues Draft Sales and Purchase Agreement (SPA) and upon reconciling any differences, the parties shall execute and lodge the SPAs in their respective banks.
2. After signing the Contract the Buyer issues within two banking days the SWIFT MT199 for the amount of the first lot of 300.000 MT.
3. Seller issues by SWIFT the Tank storage receipt, Confirmed SGS report, Dip test permission and Commercial Invoice.
4. Upon receipt and check of the TSR and SGS Report, the Buyer opens an irrevocable, transferable(once), confirmed, divisible, Documentary Letter of Credit, equivalent to the amount of 1-st lot of 300.000 MT, as evidenced by the relevant TSR and SGS Report, valid for whole contract period as payment guarantee for the last deliveries.
5. Loading commences in accordance with the schedule.
6. The payment is made by means of direct payment to the Seller’s
account within 3 days from the date of B/L to the product actually loaded and transfer of title. If sellers procedure is not workable for your buyer just drop it because seller will not negotiate .
Thank you in upfront for your understanding .
Regrads,
MIB
+2348056854329
