Description

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1.        Buyer confirms Soft Offer and acceptance of the Seller’s procedures and issues a LOI to VIET SING GREEN FUEL CO. LTD for the specific product(s).
VIET SING GREEN FUEL CO LTD issues Soft Corporate Offer with the Specification for the Specific product(s).
2.       Buyer confirms Soft Corporate Offer and acceptance of the Seller’s Procedures and issues an ICPO alongside Official Letter of Acceptanceconfirming the acceptance and willingness to work **0% strictly according to the Seller’s working procedures.
3.       Seller issues FCO to Buyer, Buyer countersigns FCO with an acceptance letter and returns to Seller.
4.       Seller issues Draft Contract and sends it to the Buyer. Both Parties negotiate the terms of the Contract. Buyer returns the Draft Contract duly signed and sealed.
5.       Final Contract is issued and signed by both Parties. Seller Registers and Legalize the Contract with the Appropriate Authorities in Russian Federation. All fees for the Registration and Legalization of the Contract will be taken care of bySelleralone.
6.       Seller's Bank sends Partial Proof of Product (PPOP) to the Buyer via secured electronic mail. PPOP consists of the following documents:
1.      Company Registration Certificate.
2.      Product Quality Passport (Dip Test Result).
3.      Copy of Refinery production schedule for the Product, approved by Ministry of Energy.
4.      Commitment letter from Refinery.
        5.      Statement of Product Availability
        6.      Certificate of Origin of the Product
7.       Buyer obtains a verifiable Transaction Passport Transfer Certificate (TPTC) / Export Clearance Affidavit (ECA), which identifies the Buyer as the new Title Holder of the goods Allocation. Charges are paid by theBuyer which is refundable upon non-performance by the Seller.
8.       Seller sends the following documents to the Buyer via Express Courier service:
1.      Four (4) registered & legalized hardcopies of the Contract.
2.      Transaction Passport Transfer Certificate (TPTC).
9.       Buyer returns 2 copies of counter-signed contract to the Seller. Both parties lodge Contract hardcopies in respective banks.
*0.      Seller appoints the Shipping agent and signs Charter Party Agreement.
*1.       Buyer contacts Shipping agent to summarize the shipping schedule.
*2.      Seller sends Full Proof of Product (POP) to the Buyer as listed in the Contract.
*3.      Buyer's bank sends to Seller's bank pre-advise of issuance of Revolving Documentary Letter of Credit (RDLC).
*4.      Seller's bank sends 2% Performance Bond (PB) to the Buyer's bank.
*5.      Shipping commences as per Contract. Upon arrival of the cargo at the discharge port, payment is effected against presentation to Buyer's bank of complete set of export documents.
*6.      Seller will release payments to the intermediaries/facilitators involved in the transaction.