4MM BBL LIFTABLE
1. The Buyer sends ICPO.
2. Then Seller gives FCO with full seller company information. The Buyer signs, seals and sends back the FCO to the Seller within max 72 hours.
3. The Seller issues 12-36 months Contract and Commercial Invoice (CI) for the first lift to the Buyer.
4. The Buyer returns signed and stamped Contract and CI to the Seller, and buyer’s bank swift RWA for total amount of the USD 460,000,000 to the seller’s bank.
5. The Seller issues Dip Test Authorization (DTA), SGS Report & Tank Storage Receipts.
6. Buyer performs Dip Test on quantity & quality and upon successful, will make payment via MT103/23.
7. Transfer of Title and Shipment commences within 48 hours.
8. Buyer shall open RDLC for the remaining of the 36 months.
9. Seller will send the full set of the POP for the contract.