- Parent Category: Negotiation
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1. Seller issue SCO Buyer confirms soft offer and issues up-to-date irrevocable corporate purchase order (ICPO) with full banking information address to the principal seller.
2. Seller issue FCO Buyer confirmed and signs returns full corporate offer (FCO) with appropriate authorized signature, seal, including the following documents:
(1) acceptance letter,
(2) buyer’s corporate license
(3) comprehensive company profile
(4) scanned copy of buyer’s international passport.
The above mention documents will serve purpose of verification before issuance of Refinery Allocation, Talon Number acquisition and change of ownership title to buyer company name. Under Gold Group acceptance of the signatory and initial on the returned FCO, including all the requested documents, p will issue Talon Number and Application form to buyer, Buyer will endorse sign send it back to seller.
3. Group issues draft contract open for amendments and buyer executes the contract with authorized signature and seal, highlighting and desired changes and e-mail back to Group.
A. The payment for the Refinery Allocation, talon number and change of ownership title as first face consultation is one-time payment; we do not require any other payment from buyer, Gold Group guarantees that this fee is refundable to buyer’s designated bank account when the said contract is signed by both parties and the (financial instrument) LC is issued to seller’s bank after seller’s bank activate the 2% performance bond to buyers bank. the purpose of requesting this fee is to know if buyer is legitimate and able to differentiate himself from non performers, we have had deficit of loss and a lot of bad experience from internet player’s, fake banking instruments, and we are strict over this, we are not ready to run the primary cost of any transaction from our personal fund, this is not negotiable, we know that a lot of real buyers are Gold Group GROUP skeptic over upfront fee payment because of what is going on today in the Oil market, Do your possible due diligence before you come to terms, one thing for sure is that Gold Group will guarantee and refund this initial payment if buyer is positive.
B. Buyer pays for Refinery Allocation, Talon Number and change of ownership title as first face consultation. The fee for these expenses is calculated according to the quantity as follows,
(1) 50,000 METRIC TONS UP TO 80,000 METRIC TONS TO BE CALCULATE FROM MINIMUM QUANTITY PER METRIC TONS (USD 0.99)
(2) 100,000 METRIC TONS UP TO 200,000 METRIC TONS TO BE CALCULATE FROM MINIMUM QUANTITY PER METRIC TONS (USD 0.99)
(3) 300,000 METRIC TONS UP TO 500,000 METRIC TONS TO BE CALCULATE FROM MINIMUM QUANTITY PER METRIC TONS (USD 0.99)
(4) 600,000 METRIC TONS UP TO 2,000,000 METRIC TONS TO BE CALCULATE FROM MINIMUM QUANTITY PER METRIC TONS (USD 0.99)
To be paid directly to Gold Group account name “1st OJSC” (the principal seller). Bank information for payment will be on the full corporate offer or buyer/buyer mandate can make request of invoice.
4. Gold Group: Pays for registration of contract, Notary, official Stamp duties. Endorse by Ministry of Energy and Federal High Court of Russia.
5. Gold Group issues original contract for final signatory, both party exchanges hard copy of contract via courier within five days of signing electronic version.
6. Gold Group issues partial proof of product and other document consigning the availability of the product.
a. Transport Agreement from the shipping company
b. Affidavit and Letter of Affirmation
c. Registered Contract
d. Export license
e. Port storage agreement
f. Passport of the product.
g. Certificate of Origin.
TABLE TOP MEETING IN RUSSIA DIRECT WITH BUYER/REPRESENTATIVE, SPONSORE BY Gold Group (Only (3) Member from buyer side is allow)
7. Buyer issues payment instrument from Top 25 world prime bank.
8. Gold Group: issues proof of product documents.
a. Copy of export license issued by Russian Ministry Energy
b. Resource notice confirming contractual volume of goods free for export.
c. Original quantity and quality certificates plus two (2) copies issued at loading port by an independent surveyor company nominated by Seller.
d. Copy of the production or processing contract, showing the records current valid contract with production of the said product or has current valid supply crude oil contract with Ministry of energy to cover supply and delivery of quantity.
e. Notice of readiness (NOR) lodged by shipmaster at loading port, Originals plus two (2) copies countersigned for acceptance by terminal representatives.
f. Signed commercial invoice, based on the delivered quantity/quality showing name of vessel date of completion loading quantity and state of delivery.
g. A full set 3/3 originals plus 3 Non-negotiable of ocean bill of loading made out “Clean on board” marked “Freight prepaid”. The B/L to be signed in original by the ship’s Master and “blank” issued or endorsed for the destination, Identification of the loaded cargo with quantity expressed in Metric Tons.
h. Certificate of insurance coverage with payment confirmation issued by insurance company.
i. Any other documents pertaining or related to the current trip, duly by the authorized buyer’s representative.
9. Buyer opening payment instrument of the first Month shipment in favor of Gold Group Bank account.
10. Gold Group issues delivery guaranty (2% P/B) to activate buyer’s Payment instrument MT103, L/C, optional payment instrument as may be agreed in contract.
DELIVERY COMMENCE AS SCHEDULED
TERMS OF PAYMENT FOR THE ABOVE PRODUCTS:
We here by notify you some issues about Gold Group working procedure and terms of payment for our products. We accept irrevocable revolving transferable or nontransferable
documentary letter of credit, covering one-month quantity for each month and in favor of Gold Group If our price is acceptable for you, please issue letter of intent (LOI) or ICPO. Gold Group normally maintains a price offers until the offer at that particular period is terminated, we normally maintain an offer for a period of quarter months (3 months). We cannot change prices of our products if an existing offer is still valid at a particular period, simply because prices of oil product went up when the offer was still valid.
We accept any payment instrument from top 25 prime bank of world, irrevocable revolving transferable or non-transferable documentary letter of credit, covering one-month quantity for each month and in favor of Gold Group.