CURRENT OFFERS
STANDARD PROCEDURE
1. Buyer Issues completed buyer packet for due diligence and pre-screening
2. Once buyer passes compliance Seller will send confirming FCO
3.On acceptance of offer Buyer will issue NCND/MFPA, ICPO with POF proof of funds.
4. Seller will issue (POP) proof of product (SGS or Tank receipts)
5. Buyer verifies, signs and returns FCO.
6. Seller issues draft contract open for amendments.
7. Buyer returns signed draft contract.
8. Buyer's bank issues acceptable form of payment TT, MT103 or RDLC,SBLC, BG (top bank)
9. Title transfers and transaction is consummated as per contract.
* Actual procedure will differ depending on supplier and available commodity
FORMAL INQUIRY
1. Buyer Company Profile with list of principals and past trade experience
2. LOI stating the need of product speicification and delivery info, payment instrument and terms (Including tanking, storage and bunkering assignments or pipeline injection)
3. Mandate papers, registered agent assignments or official points of contact