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Petroleum Products

  • UK UK  
  • Quantity Required: 1000000
  • Last Updated:
    Posted on: 11 Apr 2024

  • Destination Port: Russia
Buyer Information

RFQ Details

Buying and Selling Procedures

Seller/Seller/s representative issues the Draft Contract to the Buyer.

Buyer/Seller review, negotiate the Draft Contract and upon final agreement sign, seal, and sends the Contract to the Seller along with Buyer's full Banking Details.

Within five (5) Banking days of signing the Contract the seller shall send to buyer letter of commitment from refinery and proof of allocation (Soft POP).

After verification of soft POP buyer indicates acceptance of soft POP and legal willingness to accept full POP, by email.

Within five (5) banking days upon receipt & verification of acceptance, Buyers Bank shall issue to the Sellers Bank Non-operative Non Transferable Auto Revolving Documentary Letter of credit.

Within 5 days from receipt of RDLC, Seller's bank shall issue full POP & issue 2% Performance Bond Guarantee (PBG). 2% PBG will make RDLC operative.

Payment is by Irrevocable, Confirmed, Non Transferable/Assignable, Automatically Revolving Documentary Letter of Credit (DLC) 100% payable at sight from the Prime Bank acceptable by Selle's bank for every shipment.

Delivery commence as per Contract.


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