Contract Procedures
SOFT CORPORATE OFFER
We “IZACOIL CONSULTING GROUP”, with legal responsibility under penalty of perjury hereby confirm the Availability and Capability to Supply the under-list products for Immediate Spot and Contract sales. The Supply is guaranteed to meet the Specification and pass through the stringent requirements of SGS or its Equivalent. A financial Statement from the Buyer’s bank clarifying the buyer’s financial capability will be required to consider the buyer’s negotiations. Only direct negotiations from the end buyer’s representative and mandates will be considered.
TERMS OF TRANSACTION:
TRANSACTION PORT: SPOT, FOB & CIF: RAS LAFFAN/HAMAD/ROTTERDAM/HOUSTON/FUJAIRAH
PAYMENT TERM: MT103, T/T WIRE, SBLC, DLC, CASHIER CHEQUE
ORIGIN: QATARI, OMAN, KAZAKHSTAN, IRAQ
INSPECTION: ANY UNIVERSALLY ACCEPTED Q&Q INSPECTION COMPANY
COMMISSION: NEGOTIABLE PER PROJECT
COMMODITY: DIESEL EN590 10PPM
MIN QUANTITY: 50.000 MT /MONTH x 12 MONTH
CIF PROCEDURE – KAZAKHSTAN ORIGIN
- Buyer issues Irrevocable Corporate Purchase Order (ICPO) to the Seller and includes banking details.
- Seller issues Draft Contract to Buyer, Buyer signs and returns to Seller along with Letter of Acceptance and Guarantee to issue SBLC MT760 within 10 bank working days or pay Cash Deposit of USD 320,000 (MT103) as Product Allocation Guarantee.
- Upon receipt of signed SPA and Letter of Acceptance, Seller issues POP, consisting of the below documents:
- a) Statement of Availability of Product
- b) Irrevocable Commitment to Supply the Product
- c) License to Export Approval
- d) Pro-Forma Invoice (with 10 working days validity)
- Within ten (10) bank working days after receipt of the POP documents, the Buyer issues SBLC MT760 to Seller’s Fiduciary Company’s bank account or pays a Cash Deposit of USD 320,000 via MT103 as a Product Allocation Guarantee to ensure the transaction and the payment will be deducted from the total cost of the product at discharge port.
- Upon Seller’s receipt and confirmation of SBLC MT760 or Cash Deposit of USD 320,000, Seller issues a Confirmation of Product Allocation and obtains the Allocation Transaction Passport Code Certificate (ATPCC) from the Ministry of Energy to the Buyer, and proceeds with the registration of the full set of POP with the Ministry of Energy and Justice, and with the loading Port Authorities, and charter of the vessel for the product shipment.
- Seller sends to Buyer the full set of POP documents and 2% PB (Performance Bond) by Bank to Bank and by email to Buyer. Loading commences according to the shipment schedule for shipment within the specified working days after the buyer’s verification and confirmation of POP and 2% PB.
POP DOCUMENTS:
-
- a) Certificate of Incorporation
- b) Act of Transfer
- c) Commercial Invoice
- d) Company Tax Payer’s Certificate
- e) Fresh SGS Report at Loading Port
- f) Tank Receipt
- g) Vessel Q&Q and Quality Specification
- h) Bill of Lading
- i) Certificate of Non-Wooden Package
- j) Notice of Readiness (NOR)
- k) Estimated Time of Arrival (ETA)
- l) Authorization To Sale (ATS)
- m) Cargo Declaration / Conforming Warrant
- n) Charter Party Agreement (CPA) to transport the product to the Discharge Port
- o) Ullage Report
- p) Customs Declaration Certificate.
- q) Product Allocation Certificate
- r) Notarized NCNDA/IMFPA and Endorsed by Seller Bank
END OF CIF PROCEDURE
SPECIAL OFFERS ARE AVAILABLE FOR CLIENTS WITH PAID TANK STORAGE OR CPA.
PLEASE SEND US YOUR LOI OR ICPO TO “IZACOIL CONSULTING GROUP”
EMAIL TO
INFO@IZACOIL.COM
SALES@IZACOIL.COM
COMMERCIAL@IZACOIL.COM
Product: Refined sugar Cane Icumsa
Rating: ICUMSA 45
Composition: White refined sugar
Total Quantity: FROM 12500 MT
Total Contract NEGOTIABLE
Price: NEGOTIABLE
Destination Port JEBEL ALI UAE
| ROW | PRICE | INSPECTION | PAYMENT |
| 1 | Price USD TBA/MT with SBLC Prime bank for one shipment value. |
|
At destination port against original POP |
| 2 | Price USD TBA/MT with DLC (Sight) | MT705/Draft MT700 (Non-transferable) DLC sight from good UAE bank) before inspection.
MT700 Nontransferable after successful inspection within twenty-four hours POP is to be accepted at the loading port. |
At the loading port after inspection and against POP documents |
| 3 | Price USD TBA/MT at the destination port. | MT705/Draft MT700 (Non-transferable) DLC sight from good UAE bank) before inspection.
MT700 Nontransferable after successful inspection within twenty-four hours POP is to be accepted at the loading port. |
Payment at the destination port after the arrival of the vessel at the destination port. |
| 4 | Price USD 630 /MT Ex- warehouse Sharjah. | DO will be issued against the Bank draft in favor seller to be deposited with the appointed Seller escrow attorney. OR with seller mandate at Atrium Centre Bur Dubai Jabil Ali, UAE. | DO will have warehouse details and contact details along with a schedule for lifting |
Note: D/O Definition
A delivery order is a document issued by the shipper, carrier, or freight forwarder instructing the shipping line and the port operator to turn over the cargo to the party responsible for carrying out the import activities or Cargo Takeover.
Loading Time: Within 3 to 5 working days.
Specifications (international export standard) ICUMSA 45.
ARTICLE 5 PROCEDURE
The seller approved the procedure.
- The Buyer sends an ICPO to the Seller’s Consulting Group email address info@IZACOIL.com, a copy of the passport, and a copy of company registration certificate in support of the Buyer’s legal identification documentation and Bank Details included. The Consulting Group’s name is “IZACOIL Consulting Group”
- Seller provides a draft contract to Buyer and invoice for buyer
- The buyer returns documents by email, duly signed, and sealed within 24
- The seller signs the contract and sends it back through official email. The SPA will be operative only upon financial commitment from any of the four options mentioned at serial 1 to 4 above.
- The Buyer completes financial commitment as per options mentioned above.
- The NCNDA/IMFPA will be signed by both Parties and Seller is responsible for the payment of all intermediary group.
- Upon confirmation of payment security, the seller invites the buyer for an inspection of stocks within 24 hours.
- Seller shall provide a Visa in case of inspection at the loading port and access to a port in case the vessel is at the destination port. Delivery orders shall be issued with warehouse location and contact person details in case of ex-warehouse inspection. Only authorized persons will be allowed for inspection. No video or photo session will be allowed.
- The SBLC/MT760 or MT700 is fully operative and has to be transferred within 24 hours of a successful inspection. Mentioned in the contract.
- The seller shall release full POP to the SBLC /LC issuing bank.
- The buyer shall make the payment. Full POP will be released in favor of the buyer.
- In case of warehouse inspection, the full remaining payment has to be made after inspection before loading is allowed.
- The buyer shall sign the Good’s unconditional receipt note for receiving the goods.
- Intermediaries are paid on each shipment.