We, the undersigned, CAPITAL COMPANY, acting on the basis of Charter, with the full corporate and legal responsibility as the Buyer, with legal authorities, on its own behalf, we submit the present Purchase Order and confirm readiness to purchase the following
Name of goods : PET COKE
Origin of goods :Russian Federation
Specification of goods :According to GOST
Quantity of goods :(300,000)MT/BBL/per Month x 12 MONTHS.
Price :Gross: $00.00 /Net $00.00 per MT (PETCOKE)
Commission :$10.0 /MT ,seller side $4.00, Buyer side $4.00,Buyer Intermediaries $2.00 )
Monthly deliveries : According to Schedule of deliveries.
Terms of transportation : CIF CHINA PORT
Terms of payment : DLC700 + MT103/TT
Information about Buyer:
Name of Buyer : CAPITAL TRADING COMPANY
Seller gives $00grees /$ 00 net / mt CIF Buyer destination.
For CIF ...the Buyer is not required to pay anything until
the Cargo reach Buyer Port and discharge the Cargo.
All charges, payment is under the care of the Seller because
it is included in the price.
Though Seller mentioned that it is deductible, Buyer Bank do not allow this to happen.
Please revert back to your Seller.on this.
Amongst all the procedures that is stated, I append an amended
a version of it as below here.
TRANSACTION PROCEDURES FOR CIF ASWP
1.Buyer Issue ICPO
2.Seller Issues Draft of SPA for amendment and countersigning.
3.Seller send’s partial POP to Buyer via email:
(a)Statement of Availability of Product
(b)Commitment to Supply
(d)Company Registration Certificate
4. Buyer Bank swift Pre-advised DLC 700 (non-operative) to Seller Bank.
Seller Bank, upon receipt, would swift 2% Performance Bond to Buyer
Bank for the Pre-advised DLC700 to be activated.
4.Seller appoints and signs charter Party Agreement for the buyer and
the Shipping Company. Seller pays the shipping company for transporting
the product to buyers final discharge port.
5.Seller swift the full POP to buyer’s bank. Buyer’s Bank swift in return, the
irrevocable, Non-Transferable Documentary Letter of Credit to the Seller’s Bank.
6.Shipment commences as scheduled in the contract and upon arrival of the
cargo at the discharge port and after SGS/CIQ or Equivalent inspection
immediately Buyer’s Bank releases the Total value of the shipping to Seller’s
Bank within 48 hours (two banking days) By TT103.
7. Seller country commission to both side Intermediaries as per IMFPA