Description
Looking for Govt
Tenders or supply contracts and off take agreement from whosale and
retail petrolium delears in the SADCC, COMESA and EuroZone
only.
PROCEDURES:
1.
Seller issues Full Corporate Offer in name of the Buyer (this
document)
2.
Buyer´s bank confirms by SWIFT that buyer has the financial ability
to finance the purchase of the commodity in full, and that Buyer´s
bank will finance the client upon receiving a
POP.
3.
Buyer signs, stamps and returns the Full Corporate Offer accepting
the terms and conditions and price with ICPO (Irrevocable Purchase
Order)
4.
Seller´s bank confirms by SWIFT that Seller is a client with good
standing with the Bank.
5.
Seller issues a draft contract to Buyer.
6.
Buyer issues draft contract text to Seller and both parties resolve
issues by friendly communication.
7.
Buyer and Seller mutually sign the draft contract and exchange
signed contracts through e-mails or through
Fax.
8.
Seller issues 3 (Three) sets of hard copies, which will be sent to
the Buyer via an International Courier Service for
signature.
9.
Buyer´s bank sends by SWIFT a request to Seller´s bank to perform
the contract, confirming that Buyer has the financial ability to
finance the purchase of the commodity in full, and that Buyer´s
bank will finance the buyer upon receiving Seller´s bank
confirmation to perform the deal.
*0. Seller´s
bank sends to Buyer´s bank by SWIFT a confirmation stating that it
will perform the contract upon activating the financial instruments
as stated in the contract#.
*1. Seller´s
bank sends by SWIFT to Buyer´s bank a Proof of Product document
(POP)
*2. Buyer´s
bank issues a pre-advise fully funded Irrevocable, transferable
unconditional Financial instrument based on the mechanism detailed
earlier for the total contract quantity in favour of the seller,
and send the pre-advice financial instrument to the Seller´s
bank.
*3. Seller
issues a pre-advice Performance Bond in favour of the Buyer for 2%
of the financial instrument´s value, confirming that available upon
receipt of Buyer´s Non operative BG
transferable.
*4. Buyer
issues non-operative financial instrument in favour of the
Seller.
*5. Buyer
is allowed to coordinate an inspection at
silo/warehouse.
*6. Financial
instrument activated for the total contracted
quantity.
*9. Delivery of
commodity starts after *0days from the approval date of financial
instrument.
