BLCO: 3 YEARS CONTRACT SUPPLY TO ROTHERDAM

RFQ Details

BLCO: 3 YEARS CONTRACT SUPPLY TO ROTTERDAM; STRICTLY ON BUYER'S PROCEDURE 2016-03-22


. Payment Terms & Procedure: CIF

(1) SELLER ISSUES (SPA). BUYER SIGNS AND RETURNS (SPA) AND DEPOSIT COPY OF THE CONTRACT WITH THEIR RESPECTIVE BANKS. THE SIGNED AND ELECTRONICALLY SIGNED CONTRACT SHALL BE CONSIDERED LEGITIMATE AND LEGALLY BINDING AND ENFORCEABLE ON BOTH PARTIES.
(2)AFTER SINGING THE CONTRACTS:
SELLERS BANK WITH THE GRANTED AUTHORITY FROM THE SELLER, SHALL RELEASE THE RWA BY SWIFT MT199 TO BUYERS BANK OFFICER, TO CONFIRM THE SELLER LODGED THE FULL POP DOCUMENTS WITH THE SELLER'S BANK, THE SELLER HAS THE CAPACITY TO PERFORM THIS CONTRACT AND REQUEST CONFIRMATION THAT BUYERS BANK SHALL ISSUE WITHIN 3 BUSINESS DAYS MT700 FOR THE COVER VALUE OF ONE SHIPMENT AS BLOCKED FUND AND GUARANTEES IN RESPONSE TO THE RWA.
(3) BUYERS BANK SHALL ISSUE WITHIN 3 BUSINESS DAYS MT700 (DLC) BLOCKED FUND FOR THE COVER VALUE OF ONE SHIPMENT AS BLOCKED FUND AND GUARANTEES.
(4) A REVOLVING NON-OPERATIVE MT700 (RDLC) SHALL BE ISSUED BY THE BUYER'S BANK FOR THE REMAINING THIRTY FIVE (35) MONTHS.
(5) SELLERS BANK SHALL RESPOND WITH 2% PERFORMANCE BOND TO ACTIVATE THE BUYER'S REVOLVING MT700 (RDLC). THE RDLC (MT700) IS VALID FOR 34 MONTHS.
(6) SELLER NOMINATES, LAYCAN (PROGRAM), LOADS IN BUYERS NAME AND COMMENCES MOVEMENT OF VESSEL TO BUYERS DISCHARGE PORT (ROTTERDAM) AND AVAILS THE BUYER A FULL SET OF LOADING DOCUMENTS. BUYER PROVIDES NOR FORMAT WITH PORT OF DISCHARGE TO THE SELLER.
(7)SELLERS BANK CONFIRM ALL CARGO DOCUMENTS TO BUYER´S BANK AS BY SWIFT BANK TO BANK, COPY SEND BY EMAIL TO THE BUYER FOR VERIFICATION.
(8) SELLER AUTHORIZES VESSEL CAPTAIN TO GIVE NOTICE OF READINESS (NOR/ETA) TO BUYERS HABOUR MASTER AND VESSEL SAILS TO ROTTERDAM.
(9) SELLER ISSUES AUTHORITY TO BOARD (ATB) TO ENABLE BUYERS INDEPENDENT INSPECTORS BOARD FOR QUALITY AND QUANTITY (Q&Q) ANALYSIS AT AGREED DESIGNATED LOCATION.
(10) ON SUCCES