• Oil


    Posted by Mike on April 24, 2021 at 7:17 AM


    Seller use Top Chinese banks to receive RMB/USD DLC in China @ $10/4

    1. Seller issue SPA, Buyer Sign & Seal the Contract and Exchange the Signed Copy by Electronic


    2. Parties lodge SPA to respective banks.

    3. Buyer bank communicate/PRE advice seller bank to verify that after buyer bank issue RMB/USD DLC, seller bank will respond with RWA

    4. Upon positive response from seller bank;, buyer bank issue RMB/USD DLC for total cargo. (OR as agreed by both parties)

    Seller bank respond within two banking 3days after receive buyer bank RMB/USD DLC.

    5. Seller Reassign and release full POP in Buyer’s name and move the vessel to Buyer’s

    Port of Discharge with periodic NOR/ETA to the Buyer and to Buyer’s Port of discharge.

    7. At Buyer’s port of discharge, Buyer’s Shipping Agent clears vessel and pay all port and custom

    charges with copies released to Seller.

    8. Sellers’ Captain make announcement to harbor and Issues Authority to Board (ATB) to enable

    Buyer’s independent inspection to board the loaded vessel for Quality and Quantity(Q&Q)/CIQ or

    equivalent analysis at Buyers discharge port (due to Covid 19, inspectors may not be able to board

    for Q/Q, buyers will try to get inspector to board for Q/Q)

    9. After Q&Q, Inspectors release report to both parties while vessel discharge to buyer storage.

    10. Seller issue commercial invoice based on Q/Q and actual discharged barrels.

    11. Buyer’s bank within 48hrs, make payment via MT103/ wire transfer for the amount of

    commercial invoice to Seller’s authorized off shore beneficiary nominated bank accounts.

    12. Seller pays commission to all agents involved in the transaction according to the agent bank

    accounts stipulated in SPA

    13. CONTRACT: After successful trial shipment, buyer’s bank issue RMB/USD DLC valid for duration of

    12 months contract (366 days).

    14. Seller commence subsequent shipments

    Whatsapp: +254700347066

    Mike replied 1 year, 7 months ago 1 Member · 0 Replies
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