Procedures:
Fuel Oil Detailed Specification -
Mazut M100: click here
Gas Oil D2 (GOST 305-82): click here
Steps Involved :
Buyer issues ICPO with full banking information, banking co-ordinates including those of banking officer.
Buyer and seller finalize the contract and lodge in their respective banks (Banks must be top 50 World Bank).
Buyer issues RWA/BCL via MT799
Seller issues full POP
Buyer issues ITRDLC within 5 days and seller responds by issuing full POP to Buyer's bank
2% Performance Bond.
Each party hereto will bear its respective banking costs/charges
Shipment commences as agreed on Contract.
POP :
Contract to Purchase Crude Oil
Contract to Refine/Produce
Contract to Transport from Transneft
Contract for Storage
Contract to ship(Samskip)