Our Procedure

Below is our CIF procedure.


Nominations, Shipment & Procedures
 
a. Buyer and Seller sign and seal this Contract including banking coordinates and exchange the signed copy by electronic mail. The electronic signed copy by both Parties is considered legally binding and enforceable. Buyer returns signed SPA.
 

b. Buyer’s bank sends MT799 bloc fund as a Payment Guarantee to the amount of one month’s shipment to the Seller’s bank revolving for one year one month.

c. Within (14) banking days the Seller issues the confirmable POP and PROVISIONAL LIFTING RIGHT and NOMINATED  VESSEL details in Buyer’s name for one way voyage charter or full charter to Buyer’s port of dis-charge.
 
d. Within sixteen (16) banking days, Seller furnishes Buyer with CPA & Q88 and the following documents are provided to Buyer and/or Buyer’s bank: 
 
i) Clean – on – Board Ocean Bill of Lading
ii) Certificate of Quantity (SGS or equivalent)
iii) Certificate of Analysis (optional)
iv) Certificate of Origin
v) Certificate of Quality
vi) Seller’s Commercial Invoice
vii) Vessel Ullage Report {optional}
viii) Receipt of Samples (optional)
ix) Cargo Manifest                    
 
e. After the vessel has discharged its cargo at Buyer’s designated port outlined above and Buyer has received the Port Discharge Q & Q Report from SGS Inspectors, including all relevant documents presented by the Seller after the time of cargo delivery as required by the payment instrument, Buyer must make the payment by MT103 OR SWIFT Wire Transfer to Seller’s Bank Account for this transaction and to all Payees named herein.
 
f. Payments are made by MT103/23 OR Swift Wire Transfer directly to the Seller’s bank accounts and all parties as stipulated in this agreement within three (3) international banking days after product delivery and discharge at Buyer’s nominated port of discharge against presentation of stated shipping documents (non-negotiable copies) at Buyer’s bank.
 

g. The signatures on this contract by the Buyer and by Seller mean both parties accept all the contents as for Quantity, Price and Procedure.

Gross discount to Asian country is $9/$6. Net $6 to buyer and $1.50cent each on both seller and buyer’s side.
Please Note that seller’s side is Closed.