1). Buyer issues ICPO to seller upon receipt of Seller’s SCO.
2). Seller issue draft Contract for buyer to sign and return.
3). Seller registers, notarizes and legalizes the contract with appropriate government Authorities/Ministries in charge
of Allocation processing at Seller’s own expense
4). Seller sends copy of the approved, registered and legalized final contract to the buyer along with below Partial
POP Documents;
A) Statement of availability of product
B) Commitment to supply
C) Product Passport
D) Export License
E) Company Registration Certificate.
5). The shipping company shall be nominated by the seller with the consent of the buyer or nominated by buyer with
consent of the seller, the buyer and seller thereafter signs CPA (Charter Party Agreement) with the shipping
company and the seller and buyer jointly pays the tran-shipment and Vessel Charter fees for the shipping company
to transport the product to buyer’s nominated destination port seller pay 60% shipping cost and buyer pays 40%
shipping cost. Buyer’s payment will be deducted from the value of the first Month shipment.
6). Upon confirmation of the payment by the shipping company, Seller’s bank sends full POP documents;
(A) Tank Storage Receipt
(B) Sets of Original Bill Of Lading
(C) Cargo Manifest/Vessel Q88
(D) SGS Report
7). Upon receipt of above documents, Buyer bank swift DLC (Document Letter of Credit) to Seller's Bank within PB to
activate Buyer’s payment instrument.
8). Three (3) banking days after receiving the full POP documents from Seller’s Bank and Seller’s Bank respond with
2%.
9). Loading and shipping of the product commences and upon product arrival at destination port, Buyer makes
payment for product total value by MT103 within 72 hours
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