4. The Seller issues a Full Corporate Offer - FCO to the Buyer.
5. The Buyer issue an Irrevocable Corporate Purchase Order – ICPO.

Conclusion of contract. Seller and Buyer settle terms of contact by friendly negotiation.
6. Seller issues draft of the contract.
7. Buyer accepts the terms of draft contract.
8. Seller issues final sales and purchase contract.
9. Seller and Buyer sign the contract.
10. Seller and Buyer will sign the contract and exchange it by e-mail in pdf format.
11. Both parties lodge contracts in their respective banks.
12. Buyer and Seller exchange hard copies by courier.
13. Within 5 (five) working days from date of signed contract by e-mail and confirmation text IRDLC () from Seller’s bank, Seller issues to Buyer Proof of Product (POP) of 0,000/mt on CIF condition (POP) including name of loading port (s), forwarder’s agency of load port, time of delivery.
14. Within 5 (five) international banking days after successful received of POP, the Buyer’s bank will open Non-Operative Irrevocable, Revolving, Documentary Letter Of Credit (IRDLC)
15. Within 5 (five) international banking days from date of receipt of IRDLC seller’s bank issues operative 2% Performance Bond (PB) of value. This PB will activate Non Operative IRDLC.
16. Shipping of the goods will commence within 30 - 45 days from the date of the Seller’s receipt of the acceptable payment instrument or earlier.

The normal procedural steps (Fuel)

1. An enquiry is made via Agents, Brokers, Mandates and/or direct contact
2. Discussion begins between the buyer and seller or their representatives
3. Discussion begins with reference to price, availability, specifications and delivery details. When both parties have come to an understanding, the Buyer demands a formal quote from the Seller.
4. Providing both parties agree to proceed with further negotiations, both a NCND and MFPA is circulated for signing.
5. If the Buyer approves the quotation they submits an LOI with a BCL
6. The Seller provides an FCO
7. The Buyer gets and signs FCO and then both parties exchange financial information and ARAMCO (for SLCO) registration details. Then another NDNC Agreement is signed to protect further sensitive information being disclosed between Buyer & Seller.
8. The Seller issues a purchase contract for execution by the Buyer, who in turn executes same and returns it via facsimile. Seller also signs the contract. Original copies are provided to the parties by overnight courier.
9. The Buyer’s financial institution confirms POF and the availability of an LC to be issued to Seller’s financial institution.
10.  The Seller’s financial institution confirms POP and the availability of a PB as well as their readiness to issue same to Buyer’s financial institution.
11. Both financial institutions agree and approve the language of the Buyer’s LC and the Seller’s PB.
12.  The Buyer’s financial institution issues a non-operative LC. Contemporaneously with this, the Seller’s financial institution issues the operative PB.
13. The operative performance bond activates the LC.
14. The shipments commence pursuant to the terms of the  purchase contract.
15.  The designated Paymaster pays all the procuring parties based on the terms of the MFPA.
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