CIF  VARIANT DELIVERY - SHARED CHARTER COST 50/50 (1)

1) Buyer issue ICPO with: -
A) Corporate bank details.
B) Name of issuing bank for dlc MT700.
C) Passport copy of signee.
D) Incorporation certificate or trade license. E) Company profile.
2) Seller issues full corporate offer, buyer sign FCO; and seller send draft copy of sales purchase agreement.
3) buyer returns to seller signed sales purchase agreement (along with buyer’s port agent full contact details)
4) Seller provide export license to buyer – for buyer to confirm ability of seller for export.
5) both parties proceed to mutually appoint top-rated Russian charter company, whereby:
A) both parties equally share cost of charter covering one-month voyage for quantity of trial order.
B) seller agrees to reimburse buyer 50% of charter cost in final commercial invoice for payment at buyer port. C) after sealing CPA, optional, seller can invite buyer for TTM in Russia and to witness vessel loading.
6) upon vessel arrival at loading port; seller proceed to issue the following documents a) statement of availability of the product.
B) letter of commitment to supply.
C) Proforma-invoice for first trial delivery showing deduction of 50% charter cost.
D) Notarized product passport with ministry of energy. E) Notarized contract with ministry of energy.
F) Allocation transaction passport code certificate.
G) Vessel loading schedule.
7) Upon loading finish; seller send pop to buyer via government courier (cost borne by seller):
A) Certificate of origin.
B) copy of export license issued by Russian ministry of energy.
C) Copy of Q&Q certificates as issued at loading port by an independent surveyor company nominated by seller. D) Ullage report identification of the loaded cargo with quantity expressed in metric tons.
E) copy of ocean bill of loading made out “clean on board” marked “freight prepaid”.
F) Signed commercial invoice, showing quantity, quality survey result, vessel name and loading completion date. G) copy charter party agreement.
H) Q88 vessel details.
I) Authority to sell and collect.
8) vessel set on voyage to buyer discharge port and upon arrival seller provides buyer with: - a) dip test authorization.
B) ATB for inspection according to SGS/CIQ standards.
9) within three banking days after CIQ inspection; buyer arranges bank payment tt or mt103 against title transfer.
10) buyer bank issue operative Irdlc MT700 / SBLC MT760 for 12 months contract and seller issues 2% PB.
11) for each delivery lot; seller pays commissions to all intermediaries as per ICC NCNDA/IMFPA within 3 days.

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CIF  ASWP APPROVED STANDARD BANKING WORKING PROCEDURES (2)
1. Buyer Issues ICPO/LOI with Full Banking Details
2. Seller Issues Sales and Purchase Agreement (SPA)
3. Buyer Sign and Return the (SPA) Draft Contract to Seller
4 Buyer obtains the purchase Approval& Allocation code & transaction passport for the contract with {€70,000 Euro} which identifies the buyer as the Title holder of the Allocation and to enable the lodging of the contract with their respective banks. 
5. Seller sends via Express Courier the Registered Hard Copies of the Contract to the Buyer
6. Both Parties Lodges their copies of the Registered Contract with their respective banks.
7. Seller Appoints and Sign Charter Party Agreement with the Shipping Company.
8. Buyer Contacts the Shipping Company to summarize the shipping schedule.
9. Seller's bank sends through swift the Proof of Product (POP) documents along with the 2% operative performance bond to buyer's bank.
The Full POP shall include the following documents
a) product/production allocation application permits, (b) product/production allocation ownership title (c) Application and ownership of export permits, (d) Export tax and duties payment receipts (e) Bulking storage tank & payment receipts, (f) Certificate of analysis (g) Certificate of origin and customs declaration,(h) Certificate of quality (i) Certificate of weight,(j) Bill of Lading, (k) Dip test Authorization (Only applies to product lifted from storage or transfer tanks). (l) Copy of the charter party agreements to transport the product to discharge port. (m) Copy of the refinery commitment to produce the product
10. Buyer bank swifts Irrevocable Transferable / Non-Transferable Documentary Letter of Credit to Seller bank.
11. Shipment commences as scheduled in the Contract.
12. Seller out pays the intermediaries involved within 48 hours upon receipt of buyer's operative financial Instrument.