a) The buyer's company full banking details. b) The authorized signatory/officer's data page of his/her Passport.
d) BCL (Proof of Funds)
2.The buyer signs all the brokers' rights in the NCNDA contract and submits it to the buyer's bank and notary public for approval and sends it to the seller.
3. The final seller signs the NCNDA with a seal and submits it to the seller's bank and the official documents office
4.Accepting the buyer's Irrevocable Corporate Purchase Order, the seller issues the Memorandum of Understanding for Title Take over (MOU) or Sales & Purchase Agreement (SPA) to be executed and returned by the buyer to proceed with the transaction
5. Upon receipt and verification of the countersigned Memorandum of Understanding, the seller will Immediately email the soft copy of the following Proof of Product (POP), issued in the name of the initialbuyer
as stated below;
a.Product Passport (Product Test Analysis Report).
b.Certificate of Origin. c. Tanker Vessel Q88 Document Vessel
d.Cargo Manifest
e.Invoice for the Product's Title Transfer and the Vessel Take-Over
6. Within a maximum of 48 (Forty-Eight) hours upon receipt of all the above documents, the buyer pays 350,000Usd for the Invoice for the Product's Title Transfer and the Vessel Take-Over via SWIFT MT103 /TT Fund Transfer to the seller's bank.
7.Upon confirmation of the receipt of the Product's Title Transfer and the Vessel Take-Over payment,the seller will redirect their vessel to leave for the buyer's nominated or desired Port of Discharge.
8.The seller will immediately transfer the title and to re-issue all other outstanding documents as follow, to the buyer or the potential buyer (the buyer's Exit) company's name Declaration of⚫ Product Vessel
Notice of Readiness.
a. Authority to Verify ATV
b. Charter Party Agreements TCPA to transport the product to the Port of Discharge Europe/Asia. c.Allocation Passport Certificate
d.Clean on-Board Ocean Bill of Lading
e.Quality and Quantity Report (SGS Inspection)
f.Estimated Time of Arrival (ETA)
9. The vessel arrives at the buyer's nominated Port of Discharge Houston, the USA, and the buyer's option to immediately engage Société General De Surveillance (SGS) or China Certification & Inspection Group (CCIC) to conduct the Dip Test Analysis and Quality & Quantity (SGS/CCIC DTAand Q&Q) Certification
10. Within a maximum of 72 (Seventy-Two) hours upon successful of the SGS/CCIC DTA and Q&Q Certification, the buyer's bank releases payment for the value shown in the Memorandum of Understanding via SWIFT MT103/TT Fund Transfer to the seller's bank
11.Upon confirmation of the receipt of the full cargo payment from the seller's bank, transloading into thebuyer's
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