Buyer , Seller for Crude Oil (ESPO) STANDARD BANKING PROCEDURE (CIF) ASWP , FOB , STS

Dear company


Offer FOB L/C  

seller available for ESPO  
CIF STANDARD PROCEDURE
1.Buyers issues Irrevocable Corporate Purchase Order (ICPO) addressed to the Seller Refineryalongwithcompany
profile and buyer passport.
2.Seller issues the draft SPA for buyer's review and signing.
3.Seller legalizes and registers the contracts with insurance company and notarize it with the appropriate Authorities
of the ministry of energy along with the below PPOP document .
⦁ Product Quality Passport Quality Certificate Kyrgyzstan.
⦁ Certificate of Product Origin (after loading).
⦁ Product availability.
⦁ Commitment letter to supply the product from Ministry of Energy.
⦁ [ATSC].
4.Buyer s bank in accordance with seller s verbiage shall issue SBLC MT760/DLC MT700 within three(3)working days
for first shipment s value to seller s financial bank to enable seller commence loading  of product with the shipping
company.


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buyer  available  
1. Buyer issues ICPO along with Buyer’s company registration certificate.
2. Seller issues Sale & Purchase Agreement (SPA), Buyer review, amend (if necessary),
signs, and return the SPA in WORD format to Seller within seven (7) banking days
along with buyer’s Customer Information Sheet (CIS) and stating the exact bank issuing
the Financial Instrument. Seller sends Final Approved SPA to Buyer in PDF Format along
with the Proforma Invoice for buyer’s issuance of SBLC MT760 pre-advice or MT
999/199 Ready, Willing and Able (RWA) to Seller’s bank/fiduciary bank outside Russian
Federation, confirming their readiness and capability to execute the transaction.
3. Buyer sends swift copy of their issued SBLC MT760 pre-advice or MT999/199 Ready,
Willing and Able (RWA) to Seller’s bank/fiduciary bank outside Russian Federation.
Upon confirmation, Seller issues to Buyer via email the following transaction documents
(Partial POP):
a) Unconditional Commitment to Supply.
b) Certificate of Analysis (COA) also known as Product Passport.
c) Statement of Product Availability.
d) Commercial Invoice for the total 1st shipment product value.
4. Within seven (7) banking days, Buyer’s bank in accordance with seller’s verbiage issues
swift Fully Funded SBLC MT760 to Seller’s fiduciary bank account, outside Russian
Federation, to cover the 1st shipment total product value and send swift copies to Seller
to enable seller to commence loading of product with the shipping company. Seller’s
bank issues 2% PB to Buyer's bank to activate Buyer's financial instrument within seven
(7) days.
NOTE: If due to any reason buyer can’t issue the SBLC MT760 pre-advise or RWA
MT999/199/799 in procedure #2, buyer is to request for the Commercial Invoice for the
direct issuance of SBLC MT760 or immediately after signing of the Contract. Meanwhile, the
alternate solution to all is to request for invoice and make a 5% security guarantee deposit
of the total 1st shipment value via T/T Wire Transfer after signing of the contract. Upon
confirmation, Seller will proceed straight into shipment and furnish buyer with the FULL POP
Documents via bank to bank
5. Upon Seller’s bank successful exchange of instrument method with Buyer’s bank, Seller
to finalize loading within five - seven (5-7) working days. Seller invites Buyer for
visitation to witness the final inspection and TTM for negotiation of future transactions
(Optional to Buyer). Seller loads product within six (6) international working days,
signs NCNDA/IMFPA between all intermediaries involved with the notarized copy sent to
Seller's bank and registers & legalizes the contract and sends to Buyer the following Full
POP Document by swift via bank to bank and a copy via email to Buyer and
representative. Seller sends one full set of ORIGINAL POP documents to our authorized
Customs Clearance agent at destination port and send one full set of COPIES POP
documents to Buyer’s address via DHL or FedEx expedite (overnight) service and
provide tracking numbers. (19 sets below):
a) Copy of Registered & Legalized Contract.
b) Copy of License to Export.
c) Copy of Approval to Export.
d) Copy of Statement of Availability of the Product.
e) Copy of the Refinery Commitment to Produce the Product.
f) Copy of the Port Storage Agreement.
g) Copy of the Charter Party Agreement(s) to Transport the Product to Discharge
Port.
h) Certificate of Origin
i) Tank Receipt
j) Company Tax Payer's Certificate
k) Certificate of Incorporation.
l) Act of Transfer/Change of Ownership Title.
m) SGS/Say bolt Certificate of Quality and Quantity, One (1) Original and three
(3) copies.
n) Cargo Manifest
o) Vessel Ullage report
p) Vessel Q88
q) Bill of Lading
r) Notice of Readiness (NOR)
s) Estimated Time of Arrival (ETA)
6. Buyer notifies Seller by official written notice of his bank receiving Seller’s POP documents.
Shipment commences as per contract schedule and upon arrival of the cargo at the
discharge port, buyer’s inspection team carries out CIQ, SGS or equivalent inspection to
ascertain quality and quantity.
7. Product is discharged into buyer’s destination port/storage facility after successful
inspection, Buyer release payment via swift fund transfer within 3 to 5 banking days to
Seller for total shipment value after discharge of product at destination port/storage facility
and receipt of the entire relevant shipping documents. Seller within 48 hours pays the
intermediaries involved according to signed & notarized NCNDA/IMFPA. Second and
succeeding shipments continue.

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