Procedure No. 14 CIF

ALL CIF PROCEDURES ARE NON-NEGOTIABLE CIF PROCEDURES — ANY SAFE PORT

 

 

 

BUYER IN ZOOM CALL WITH SELLER MANDATE/REPRESENTATIVE PRIOR TO ICPO.

 

1. BUYER ISSUE ICPO ALONG WITH COMPANY PROFILE, BANKING INFORMATION, GUARANTEE TO PERFORM LETTER AND

 

POF FOR THE FIRST CONTRACT LIFT TO SELLER TO BE SENT TO REFINERY MANDATE’S OR REFINERY REPRESENTATIVE’S

 

EMAIL ADDRESS.

 

 

2. SELLER SENDS TRIAL SPA DRAFT TO BUYER TO REVIEW AND SIGN.

 

 

3. SELLER ISSUES COMMERCIAL INVOICE FOR FIRST TRIAL SHIPMENT ALONG FOR BUYER TO BE REVIEW AND SIGN.

 

 

4. UPON BUYER ENDORSEMENT OF COMMERCIAL INVOICE SELLER SHALL ISSUE POP DOCUMENT LISTED BELOW:

 

A. SHIPPING AGREEMENT (CPA)

 

B. STATEMENT OF AVAILABILITY OF THE PRODUCT.

 

C. REFINERY COMMITMENT TO PRODUCE AND SUPPLY THE PRODUCT REQUEST. D. PRODUCT QUALITY PASSPORT.

 

 

5. SELLER AND BUYER PROCEED TO ENDORSE THE CHARTER PARTY AGREEMENT (CPA) DOCUMENT WITH SHIPPING

 

COMPANY AND BOTH BEAR CHARGES OF 100% SHIPMENT FOR THE FIRST SHIPMENT ONLY (TT PAYMENT RECOGNITION

 

WITHIN 3 WORKING DAYS; CRYPTO PAYMENT RECOGNITION WITHIN 1 HOUR):

 

A. COPY OF SGS/GOST K/GOST R REPORT

 

B. ATTESTATION OF ALLOCATION

 

C. ALLOCATION TRANSACTION PASSPORT CODE CERTIFICATE.

 

D. BILL OF LADING

 

E. VESSELS Q88.

 

F. DTA AND ATSC – PRODUCT QUALITY PASSPORT.

 

 

6. ALL INTERMEDIARIES SIGN NCNDA/IMPFA.

 

 

7. SELLER PROCEEDS TO SHIP THE PRODUCT TO BUYER’S DESTINATION AND UPON ARRIVAL OF THE CARGO AT

 

DISCHARGE PORT, BUYER WILL MAKE PAYMENT FOR THE PRODUCT TO SELLER LESS THE COST OF FREIGHT CHARGES

 

PAID BY THE BUYER (FOR THE FIRST SHIPMENT ONLY) VIA TT WIRE TRANSFER AFTER CIQ/SGS INSPECTION AT

 

DISCHARGE PORT. CARGO IS THEN DISCHARGED INTO THE BUYER’S TANK AT THE PORT.

 

 

8. SELLER PAYS COMMISSION WITHIN 48 HOURS BY SWIFT MT103 TO ALL INTERMEDIARIES AS SIGNED NCNDA/IMPFA.

 

 

9. SELLER CONTINUES SHIPMENT WITH THE NEXT VESSEL.

 

 

NOTES:

 

1. BUYER IN ZOOM CALL WITH SELLER MANDATE PRIOR TO ICPO. PURPOSE IS TO MAKE SURE THAT THE BUYER

 

UNDERSTANDS THE TRANSACTION PROCEDURE ETC – SO THAT WE DO NOT WASTE TIME WITH STALLED CONTRACTS.

 

2. NO TTM BETWEEN BUYER & SELLER

 

3. NO VISIT TO THE REFINERY