CIF-TRANSACTION PROCEDURES Sample Clauses

CIF-TRANSACTION PROCEDURES. 1. Buyer issues ICPO with letter of acceptance to seller upon receipt of soft corporate offer. 2. Seller issues Sales and Purchase Agreement open for amendment for buyer review. 3. Buyer review draft agreement and returns sign copy in word format to seller. 4. Seller review contract acknowledged and registered / legalize it through the ministry of energy. Note Seller bearing the cost of the registration and legalization # $51,300 USD. 5. Upon acceptance seller issues to buyer fresh SGS report including listed Part of Proof of Product approved by the appropriate ministry, below partial POP must be send through courier service and Buyer bearing the cost of Notarization of PPOP # $13,975 USD A.STATEMENT OF AVAILABILITY OF PRODUCT B. TANK RECEIPT OF THE PRODUCT STORAGE C. CERTIFICATE OF ORIGIN D. CHARTER PARTY AGREEMENT. E. REGISTERED HARD COPIES CONTRACT ISSUED BY THE MINISTRY OF JUSTICE. F.CERTIFICATE OF CONFORMITY ▇.▇▇▇▇▇▇▇ CERTIFICATE OF TAX INCORPORATION H.FRESH SGS REPORT BASED ON INTERNATIONAL ANALYTICAL REPORT I. EXPORT LICENCE & ATS 6. Buyers bank open communication with seller bank and agree to issue Irrevocable non- transferable, non-assignable, non-divisible, Revolving Documentary letter of credit covering first shipment value. (Buyer’s Bank Option). 7. Seller issues all Proof of Product including the SGS based on international analytical report/BILL OF LADING to buyers Bank in accordance to instrument presented by buyer’s bank, Seller’s Bank replied with 2%PB to activate the letter of credit issued by the Buyers Bank. 8. Seller clears vessels from the commercial terminal (Russian Shore)Buyer confirm shipping documents with vessels captain while Seller effect delivery to buyer destination according to contract schedule and arrange payment to all intermediaries involved from both party representatives after confirmation of quality and quantity (Q&Q) or CIQ report.