REFERENCE CODE: SAL/ARPET/2025/CIF/01
ORIGIN: KAZAKHSTAN / POLAND & SAUDI ARABIA
DELIVERY TERM: ASWP - IPL/OPL
PROCEDURE: CIF TRANSACTION
1.Buyer issues an ICPO addressed to the Seller that incorporates the Seller's procedure. The ICPO must include the buyer's company details, banking details, and passport copy.
2.Seller issues Sale and Purchase Agreement Contract and a letter of Performance for buyer's review and signing.
3.The seller allocates the product to the buyer and provides the buyer with the proof of the product listed below.
a. Irrevocable Commitment to Supply
b. ATSC – Authorization to Sell & Collect
c. Product Certificate of Quality
d. Letter of Allocation Approval
e. Certificate of Origin
4.The Buyer issues a Standby Letter of Credit (SBLC/MT760), or (IRDLC/MT700) for an amount equal to value of the one-month shipment, to the Seller’s nominated bank within 7 days after receiving the PPOP.
5.The Seller shall arrange freight for the transportation of the product to the discharge port designated by the Buyer.
5A.In the event that the Buyer's SBLC or DLC is not issued or received within the specified time period, the Seller and Buyer shall each pay 50% of the CPA cost via wire transfer (MT103/TT) directly to the shipping company, The 50% CPA cost paid by the Buyer will be deducted from the total product cost when the Buyer makes the final payment. All intermediaries must sign the NCNDA/IMFPA.
6.The Seller shall issue a Performance Guarantee equal to 5% of the one-month shipment value. In the event that the Seller fails to supply the product to the Buyer, the 5% Performance Guarantee shall be paid to the Buyer.
7.Time frame for the loading of product into the tanker vessel will be 5-7 days after receipt of the (SBLC/MT760), (IRDLC/MT700) by the Seller’s Bank or wire transfer MT103/TT by the Shipper’s Bank. Upon completion of loading, the shipping document will be sent to Buyer, including IMO/MMS/Vessel(s) name.
8.The Seller shall dispatch the complete set of (POP) documents, as detailed below, to the Buyer via courier. Buyer is the consignee and Seller notifies buyer of clearance for vessel to set sail to buyer's nominated port.
9.Upon the arrival of the tanker vessel at the destination port/terminal, the Buyer conducts an SGS/CIQ inspection. After the inspection is completed, the Seller transfers the product into the Buyer’s nominated vessel or storage tank.
10.Upon completion of the product transfer into the Buyer’s nominated vessel or storage tank, Buyer makes the full payment of the total product value, via wire transfer (MT103/TT) to the seller within 1-2 banking days. The Seller company transfers the Title of Ownership to the Buyer's company.
11.Seller pays commission structure via MT103/TT, within 1-2 banking days in accordance with the signed [NCNDA/IMFPA] to agents, intermediaries involved
12.Subsequently, monthly delivery continues according to the terms of the sale and purchase agreement, and the transaction is extended by issuance of a 12-month contract with possible R&E by the Seller
SHIPPING DOCUMENTS LIST WILL CONSIST OF THE FOLLOWING:
a. Clean Ocean Bill of Lading, One (1) original and three (3) copies.
b. Sellers commercial Invoice, One (1) original and three (3) copies.
c. Certificate of Origin, One (1) original and three (3) copies.
d. Master's receipt for samples and Documents
e. Ullage report issued at loading terminal, One (1) original copy
f. Cargo Manifest
g. Tanker Time Sheet, One (1) Original and two (2) copies\
h. Certificate of weight, quality and analysis - by SGS at time of loading.
i. Custom clearance at the loading port, one (1) original and two (2) copies.
j. Export License, issued by the department of the Ministry of Energy
k. Charter party agreement to transport the product to Discharge port
l. Vessel Questionnaire 88
m. Dip test Authorization (DTA) & ATB
n. NOR /ETA
o. Insurance policy to cover 110% value of the goods.