Procedure (Bitumen)
1 - Buyer’s inform the Seller LOI
2 - Seller issues the present FCO
3 - Buyer returns the present FCO sealed and signed for terms and conditions acceptance
4 - Buyer issues an ICPO to Seller with full Banking details along with the Company Profile
5 - Seller issues to Buyer the Commercial Invoice for the Quantity delivered
6 - Buyer’s Bank issues to the Seller’s Bank, MT 799
7 - Seller deliver all products from refinery to shipping port
8 - Seller provide SGS Test Results & Reports to the buyer
9 - Buyer’s Bank issues to the Seller’s Bank the full payment by MT103 or TT covering the Lift Able delivery value within 24 Hours
10 - Upon the Seller Bank Commodities Full Payment confirmation, the lifting shall commence immediately. Seller shall issue To the Buyer Bill of Lading and Shipping documents
11 - The Buyer’s Vessel Customs Clearance, taxes and Port Authorities fees shall be made and be borne By the Buyer in discharge port
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