Procedure for the Purchase of D2, JP54 and Mazut
Procedure for the Purchase of D2, JP54, Mazut 100, Russian Rebco, LNG and LPG
Note: Our procedure is non-negotiable, please if you can not work with it, please do not border to disturb.
1. Seller issues SCO
2. Buyer issues ICPO
3. Seller issues FCO
4. Buyer signs and returns FCO along with NCNDA
5. Seller issues Contract & Commercial Invoice
6. Buyer reviews Contracts for changes if any required & signs Contract and Commercial Invoice.
7. Buyer returns Contract & Commercial Invoice signed & stamped with bank pre-advice letter (on bank letterhead) made out to J AND J FAMILY TRUST INC. (see SCO for bank pre-advice language)
8. Seller issue’s POP documents consisting of SGS Report, Dip Test Authorization, and Storage Tank Receipt for first lift-able amount as stated within commercial invoice. These documents take between 3 -10 business days to receive from refinery. They will be swifted, faxed or e-mailed directly to Buyer, Buyer Mandate, or Buyer Bank Officer only. No Broker’s or Intermediaries’ will get these documents.
9. Buyer sends POF via Buyer Bank to Sellers Bank by SWIFT and e-mail.
10. Sellers sends Non-Operative 2% PB to activate Buyers POF to MT103 or MT760 and releases Full POP to Buyer.
11. Both parties exchange hard copies of contract via Carrier and lodge contracts with their banks.
THE BELOW DOCUMENTS WILL BE GIVEN TO BUYER AFTER FULL PROOF OF FUNDS IS ESTABLISHED
1. A copy of the transfer contract to transport to buyers port of destination
2. A copy of the Pro-forma Invoice
3. A copy of the Certificate of Origin
4. A copy of the Commercial Invoice
5. A copy of the Bill of Lading
6. A copy of the Storage Agreement
7. A copy of the seller’s license to export
8. A copy of the seller’s approval to export
The delivery will commence as schedule, buyer releases payment to J and J Family Trust, Inc. Bank as agreed to by both parties upon receipt of all relevant shipping documents. The FULL POP will be released when POF is issued and Final Contract is signed.