PROCEDURES

  The experiences in the past showed and learned us, that all Working and Payment Procedures must

  be aligned at the needs of Buyers and Sellers. This is ours , to bring Buyer and Seller together.

SBLC CIF TRANSACTION PROCEDURES

1.    Buyer Company Issues Irrevocable Corporate Purchase Order (ICPO) on its official company letterhead with letter of acknowledgement, scanned copies of the buyer’s company registration and international passport of buyer to the seller.

2.    Seller Company Issue Draft Contract / Sales & Purchase Agreement (SPA Open for amendment if any).

3.    Buyer within three (3) working days’ signs SPA and returns to seller. Seller registers and legalizes contract officially with the appropriate authorities to ties to facilitate booking of allocation and securing a legitimate approval for the Transfer of Ownership Title/Allocation to buyer’s Company name at seller’s expenses

4.    Seller releases to the Buyer the Partial POP Documents below:

a)    Copy of Tax Registration Certificate (Certificate of Incorporation),

b)    Copy of Certificate of origin

c)    Copy of Product Passport,

d)    Copy of Refinery commitment to supply

e)    Copy of Statement of availability of product.

f)    Copy of Proforma Invoice

5    On confirmation of the receipt of the partial POP, buyer must within Five (05) banking days buyer issue thire SBLC, failure to do so shall make the payment of $380,000.00USD (Three Hundred and Eighty Thousand United State Dollars) via TT Wire Transfer to seller nominated bank account. This is to enable the seller to secure the service of the Vessel for the transportation of the product to buyer’s destination port.

Note: Fee made by buyer will be deducted when making payment for the total cost of the product at the discharge port after a successful CIQ/SGS test at the discharge port

6  On confirmation of the above clause, Seller bank will issue a 2% PB upon confirmation of buyer’s bank instrument in form of SBLC MT760 and the seller company releases copies of POP and Shipping documents to buyer Company.

a)    Allocation Title Ownership certificate.

b)    Port Storage Agreement

c)    Charter party Agreement to transport the product to discharge port.

d)    Tank Storage Receipt.

e)    SGS Quality and Quantity Certificate.

f)    Bill of Lading.

g)    Certificate of Q&Q issued by SGS or equivalent.

h)    Vessel Questionnaire 88

i)    Export License by Kazakhstan Authorities.

j)    Export Approval by Kazakhstan Authorities.

7    Shipment commences as scheduled in the contract and upon arrival of the cargo at the discharge port and after SGS/Q&Q or Equivalent inspection immediately Buyer’s Bank releases the Total value of the Shipping to Seller’s Bank within 48hours (two banking days) By MT103.

8    Seller will release payments to the intermediaries involved within 48 hours of receiving the full Payment for the product from the Buyer’s bank After successful delivery of the first monthly shipment of the Product.

   TRANSACTION PROCEDURE: FOB (TANK TO TANK)

1.    Buyer issues ICPO containing the seller's procedure with banking details and scanned copy of buyer's passport along with Tank Storage Agreement (TSA) from buyer’s Logistic Company.

2.    Seller issues Commercial Invoice (CI) for the available products in Tank at the Port, for Buyer's review and endorsement and return for legalization on seller's expenses.

3.    The Seller's verify the Tank Storage Agreement (TSA) provided by the buyer. Upon successful verification and approval of the authenticity and availability of the Storage Facility reserve in favor of the buyer. Seller releases the below POP documents directly to end buyer’s secure email.

a)    Copy of Legalized Commercial Invoice.

b)    Copy of Commitment to Supply.

c)    Copy of Injection Report

d)    Copy of Fresh SGS (Not Older Than 48 hrs.)

e)    Copy of ATS -Authorization to Sell & Collect

f)    Copy of Authorization to Verify (ATV)

g)    Copy of Dip Test Authorization (DTA)

h)    Copy of Commitment Letter to Supply

i)    Copy of Export license.

j)    Copy of Statement of Product Availability.

k)    Copy of Tank Storage Receipt (TSR) with barcode and GPS Coordinate.

l)    Copy of NCNDA/IMFPA

4.    The Buyer Conducts Dip Test on the product in the seller's reservoir.

5.    Buyer provides Authority to Inject (ATI) from its Logistic Company to enable seller commence Injection of Product into the Buyer's Tank. 

6.    Within Twenty-Four (24) Hours upon completion of the Injection, buyer make payment for the total cost of the product injected into buyer’s tank by TT wire transfer to seller’s nominated bank account.

7.    Buyer lifts products and all intermediaries are paid, Seller and Buyer consider and signs further contracts after successful Transaction.

TANKER TAKE OVER (TTO) TRANSACTION PROCEDURE.

1. Buyer issues ICPO according to the seller’s working procedure along with buyer’s company certificate of registration or profile with copy of buyer’s passport.

2. Seller issue draft MOU agreement to Buyer counter-sign and return back to seller.

3. Upon seller receipt of sign MOU/contact from the buyer, Seller legalizes the agreement with the ministry of energy, agriculture & trade Kazakhstan.

4. Seller sends to Buyer the following documents for Buyer's confirmation

A) Copy of Certificate of Origin

B) Copy of Product Passport (Analysis Result)

C) Copy of Haulage Report

D) Copy of Cargo Manifest

E) Copy of Bill of Lading

F) Copy of Vessel's Q88

G) Copy of E.T.A (Estimated Time of Arrival) of Vessel

H) Copy of Invoice for Title Transfer. Security guarantees deposit of 2% total product cost.

5. Up on Receipt of the Above POP Documents by the Buyer. Buyer Proceed with the Payment for the Title Transfer Charges on the Vessel via TT Wire Transfer of  2%  For the Total Product Value Quantity on Board Vessel for Title Transfer. This sum is Deducted from the Total Cost of the Product on Arrival of the Vessel at Discharge Port

6. Upon Seller’s receipt of the title takeover payment, Seller transfers the title to the Buyer Company’s name and also re- issue all other outstanding Documents to the Buyer Company’s name and also re-route the Vessel to Buyer's Destination Port.

7. Seller shall provide the following partial proof of product documents which were issued in name of initial buy

8. Seller pays Commission to all involved mandates and intermediaries by T/T Wire Transfer as mutually agreed in the NCNDA/IMFPA.