Erms and conditions of the sales transaction and procedure for FOB port Ust-Luga(Russia)
1. The buyer issues ICPO+Memorandum+RWA
2. The seller issues the draft spa to the buyer for verify and sign , together with that issues a commercial invoice (CI)for the available quantity in seller”s storage tank+ NCNDA/IMFPA. The buyer signs and returns this SPA+CI+NCNDA/IMFPA signed intermediaries commissions from both sides for notarization.
3. The seller prepares partial POP documents as specified below and sends it to the buyer:
a) commitment and delivery guarantee,
b) product availability statement,
c) certificate of oregin,
d) authorization to verify (ATV),
e) unconditional DTA,
f) SGS report,
g) tank storage receipt (TSR),
h) authorization to sell and collect (ATSC)
4. The buyer conduct dip test in seller”s tank and after successful test submits SGS analysis results as consent and acceptance of the product pays for the product using MT103 TT.
5. After the payment is received by sellers bank for the product, seller starts product injection into the buyer”s system (tank or vessel).
6. The seller transfers title and all export documents of the product to the buyer”s name after each payment.
7. The seller pays the the commission to the intermediaries on the side of the seller , and the buyer pays the commission on the side of the buyer.