EURO 2M

الوصف

LOYAL COMMERCE SDN BHD is a private limited company located in Kuala Lumpur, Malaysia. It has direct contractual relationship to Seller and Refinery / Refinery Owners both locally and abroad. The company is primarily engaged in providing petroleum product procurement for major buyers. The products that are offered are: Euro 2M, bitumen, D2, Mazut M**0 *5/*9, jet fuel,liquefied petroleum gas (LPG) and liquefied natural gas (LNG). Inquiries for products not mentioned above are welcome.

SALES PROCEDURES :
 
 1.  Buyer issues Letter of Intent (LOI) to Seller.
 
2.  Seller issues Full Corporate Offer (FCO) to Buyer. Buyer returns original FCO to Seller signed and sealed as acceptance of offer.
 
3.  Buyer issues Irrevocable Confirmed Purchase Order (ICPO) with soft probe authorization together with vessel Q*8 to Seller.
 
 4. Confirmation of vessel Q*8 from PETRONAS Logistics Department Seller issues draft Sales and Purchase Agreement (SPA) to Buyer.
 
 5. Signing SPA, Seller issues Commercial Invoice for the Trial Shipment quantity.  
 
6.  Buyer submits local Bank / Demand Draft payable to PETRONAS Dagangan Berhad at PETRONAS Dagangan Berhad office. Seller issues 2% Performance Bond to Buyer on confirmation of local Bank / Demand Draft.
 
7. Seller issues Dip Test Authorization (DTA) to Buyer. Buyer initiates cargo collection within five (5) working days. Failure to collect within the stipulated period might result in Buyer having to incur Bunkering Charges at RM0.*8/liter daily.
 8.  Buyer releases **0% payment to Seller's bank via Telegraphic Wire Transfer (TT) / SWIFT MT **3 after obtaining Quality and Quantity inspection Certificate.
 
9.  Seller releases commission to intermediaries as per IMFPA after all payments have been cleared by the Buyer and received by the Seller's bank.