*PROCEDURE FOR SPOT IN CHINA *
1. Seller provides SPA for Buyer’s review and signature;
2. Buyer signs NCNDA/IMFPA with all intermediaries involved in the transaction;
3 .Buyer initiate the DLC or SBLC process by releasing the DLC/SBLC
4. After buyer release the DLC/SBLC, Seller to connect his shipping agent company with
Buyer’s shipping agent (logistics) to open communication and complete the formalities for cargo entering into buyer’s discharge port;
5, After buyer’s shipping agent confirmed the cargo is been secured to and only for the buyer, buyer’s bank to then give acceptance to the Documentary Letter of Credit ( DLC) of 3 0 % face value of full cargo to seller’ s designated bank account;
6. upon confirmation of buyer’s receiving the documents, seller’s bank to respond correspondingly with 2% performance bond as guarantee of delivery;
7. Buyer to conduct in seller’s vessel, a SGS/ CCIC / CIQ internationally recognized inspection for Q&Q confirmation, the report to be mutually agreed by both parties, and to be used for final payment ;
8. After successful Q&Q, seller to inject product into buyer’s designated tank storage;
9. After injection, buyer to pay full payment of cargo through MT103 / TT ( in USD) to seller’s designated bank account, based on the quantity of the Q&Q report in vessel cargo;
网页链接 seller confirmed payment receipt, seller to transfer title ownership of goods to exit buyer’s name, along with all final full POP documents.
网页链接 to pay commission to all intermediaries involved in the transaction based on signed NCNDA/IMFPA;
12. After the first transaction, both parties to launch an annual contract of monthly delivery.
1. Seller provides SPA for Buyer’s review and signature;
2. Buyer signs NCNDA/IMFPA with all intermediaries involved in the transaction;
3 .Buyer initiate the DLC or SBLC process by releasing the DLC/SBLC
4. After buyer release the DLC/SBLC, Seller to connect his shipping agent company with
Buyer’s shipping agent (logistics) to open communication and complete the formalities for cargo entering into buyer’s discharge port;
5, After buyer’s shipping agent confirmed the cargo is been secured to and only for the buyer, buyer’s bank to then give acceptance to the Documentary Letter of Credit ( DLC) of 3 0 % face value of full cargo to seller’ s designated bank account;
6. upon confirmation of buyer’s receiving the documents, seller’s bank to respond correspondingly with 2% performance bond as guarantee of delivery;
7. Buyer to conduct in seller’s vessel, a SGS/ CCIC / CIQ internationally recognized inspection for Q&Q confirmation, the report to be mutually agreed by both parties, and to be used for final payment ;
8. After successful Q&Q, seller to inject product into buyer’s designated tank storage;
9. After injection, buyer to pay full payment of cargo through MT103 / TT ( in USD) to seller’s designated bank account, based on the quantity of the Q&Q report in vessel cargo;
网页链接 seller confirmed payment receipt, seller to transfer title ownership of goods to exit buyer’s name, along with all final full POP documents.
网页链接 to pay commission to all intermediaries involved in the transaction based on signed NCNDA/IMFPA;
12. After the first transaction, both parties to launch an annual contract of monthly delivery.
