We are the buyer mandate of a Singaporean Oil Company
who buys D2, REBCO and m100 for Chinese and
Please send us your offers if you agree with the following
Seller issues a fresh Irrevocable FCO under the penalty of
perjury without discrepancy to the procedures as in below
Buyer contra signs, seals and electronically reverts the FCO
and issues the ICPO with initial Banking Details.
Seller contra signs, seals and electronically reverts the
ICPO and issues a full style draft contract within two
international banking days electronically to the buyer
The buyer initializes each page makes changes in red
color and sends the contract electronically back to the seller
The seller signs and seals the draft contract, with
company seal and within two international banking days
reverts the contract back to the buyer
The buyer contra signs and seals the final contract
Within five banking days, from the return of the
contract, the seller sent copies of the full set of POP as
in below with a letter of the refinery or the producer to
the buyer confirming the availability and their capability
for constant supply of the product.
POP should consist at least the following documents:
1. A letter of the refinery or the producer to the buyer
confirming the availability and their capability for constant
supply of the product
2. Copy of the contract with the producer to produce
3. Copy of the contract with the transportation company
to transport the product to the port
4. Copy of the contract with the port authorities to store
the product on the port
5. Copy of the export license
6. Copy of the certificate of origin
7. Copy of the certificate of the quality and quantity from
the refinery or producing company.
Seller and buyer meet in a TTM at the actual oil
producing site (Refinery).
Seller if not the owner of the product is entitled to
bring the actual owner and the president of the refinery
in the meeting in order for final verification of the POP.
BCL, POF, soft probe or communication between
banking officers is not allowed in the entire procedure
before the CEO of the buying company successful
verified the POP.
After five international banking after a successful
TTM, buyer opens Payment instrument to the seller's
bank within two international banking days seller
issues a 2 % PB to the buyer's bank
Shipment commences as per contracted delivery
schedules, terms and conditions
Please note Pre-Advice L/C/LOR/BCL/POF will only be
opened after meeting seller and actual owner of the
product in a meeting.
In TTM all the people till owner of the oil has to be present.
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Order and Pay for this enquiry. We shall send you complete contact details of this lead. You will be able to contact and negotiate business directly