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D2 required

  • USA USA  
  • Last Updated:
    Posted on: 15 Nov 2024

Buyer Information

RFQ Details

Dear Sir,
I would like to know if you would be interested in selling to my qualified buyer D2 under this procedure:
Procedure: Closing by Escrow with Bennett Jones LLP ( Escrow Agent)

1. Buyer shall deliver executed ICPO to Seller
2. Seller shall review and accept ICPO and return executed copy to Buyer
3. Confirmation of Buyers ability to pay for the purchase the above product and Sellers confirmation of ownership of the product to be sold shall be established on an attorney-to-attorney basis to protect the security and rights of both the Buyer and the Seller as follows:
a. Buyer and Seller shall designate their Attorneys for this transaction and shall arrange with their Attorneys a time for a mutually scheduled conference call between such Attorneys.
b. Buyes Attorney shall represent and confirm to Sellers Attorney that proper verification of funds (the Purchase Funds) has been made and the Buyer has the required funds available for payment of the Product.
c. Sellers Attorney shall represent and confirm to Buyers Attorney that Sellers Attorney has in his possession (and/or has immediately available) all necessary and proper verification of ownership and title of the Product (Verification Documents which shall include Tank Receipts, Pipeline Receipts, Bills of Lading, Allocation Certificates and/or other legal documentation) and that Seller is that lawful owner of the product to be sold.
4. Sellers Attorney shall provide to Buyers Attorney copies of Sellers Verification Documents of its ownership of the Product and Buyers Attorney shall release said copies of said Verification Documents to the Buyer for Buyers verification of the same.
5. Within twenty-four (24) hours after receipt of the Verification Documents, Buyer shall undertake and co


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