Description

Procedure A. Buyer issues an ICPO . B. Seller issues Full Corporate Offer to the Buyer. C. Buyer signs and returns FCO with letter of acceptance. D. Seller issue Draft Contract on firm Terms and Conditions to the buyer. E. Buyer signs and returns the Draft Contract to Seller. F .Seller sends Contract to the Refinery for Legalization and lodge into pipe line for liquid petroleum products and Seller issues Partial POP. G. Buyer issues FULL PROOF OF FUNDS (POF),{MT**3/*3} H. Upon the confirmation, Seller and buyer sign the hard copy contract in seller office in Moscow if needed, or both party exchanges hard copy of contract via courier service. Within five days of signing electronic version. I. Seller issues FULL PROOF OF PRODUCT (POP) Bank to Bank. a) Copy of License to Export, issued by the Department of the Ministry of Energy b) Copy of Approval to Export, issued by the Department of the Ministry of Justice c) Copy of Statement of Availability of the Product d) Copy of the Refinery Commitment to Produce the Product e) Copy of Transneft Contract to Transport the Product to the Port f) Copy of the Port Storage Agreement g) Copy of Tank Receipts and SGS Report h) Copy of the Charter Party Agreement(s) to Transport the Product to Discharge Port J. Seller Bank shall issue PBG 2% to buyer&#**9;s bank. All banking charges including confirmation from the Buyer&#**9;s bank shall be borne by the buyer and all banking charges incurred by the Seller at Seller&#**9;s bank shall be borne by the Seller. K. Should any amendments to the LC be requested once the same had been issued, then the Party requesting the change will be responsible for the payment of the related costs, unless changes are needed to construct the instruments in compliance with the Agreement, then the costs shall be borne by the faulting Party. L. Deliverance of goods, Commence as scheduled.