Ref: Max/USA
CIF Procedure – En590-10 PPM and Jet fuel A1
| Products | En590-10 PPM & Jet fuel A1 |
| Products Refined in | Germany & The Netherlands |
| Min Order | 100,000 MT En590-10 PPM & 2,000,000 Barrels Jet fuel A1 |
| Price | Minus 8% CIF platt |
| Contract | 1 year |
| Term of payment | Standby Letter of Credit/MT760 for 12-month contract – MT103 |
| Specification | Standard |
- Buyer sends LOI: The buyer issues a Letter of Intent (LOI) along with the buyer’s CIS
- Seller sends FCO: The seller provides a Full Corporate Offer (FCO), which the buyer signs and returns with proof of funds and ATV.
- Signing SPA: The seller issues a Sale and Purchase Agreement (SPA), which both parties review and sign.
- MT799 Pre-advice: The buyer’s bank sends an MT799 pre-advice, which the seller’s bank confirms.
- Issuing SBLC: The buyer’s bank issues a Standby Letter of Credit (SBLC) for the agreed amount, and the seller provides a 2% performance bond.
- Seller provides documents: Upon loading the vessel, the seller provides key shipping and product documents, including the SGS report, export license, certificate of origin, customs clearance, and other relevant documents.
- Vessel arrives: The vessel arrives at the buyer’s destination; documents are shared with the buyer, and the buyer can arrange for a third-party inspection (SGS) at their own cost.
- Buyer makes payment: After a successful inspection, the buyer receives the CI and makes the payment via SWIFT MT103 within three days.
- Transfer of ownership: The seller transfers the title certificate to the buyer.
- Ongoing deliveries: Deliveries continue as per the contract
The buyer should send ICPO with the name : Maxwell CTSE – www.maxwelltanks.com – +31-649289174 -and email to: Ahmad@maxwelltanks.com
