14.0 Buyer write letter of intent (LOI) addressed to seller, Seller revert with full cooperate offer letter, buyer responds with acceptance letter to full cooperate offer, Then Seller issues draft contract, signed and sealed to the buyer and send together with his Company profile.

14.1 Buyer sign, seal and return to Seller including Buyer’s Company Profile, with SPA lodged to Buyer's Bank. Seller lodges the same with his Bank. The electronically signed and sealed contract is legally binding and enforceable.

14.2 Within three banking days of the receipt of the executed contract the Buyer bank will send (Ready, Willing and Able) RWA to the Seller bank through bank to bank communication requesting for 2%pb.


14.3 Within three banking days of receipt of the RWA from the Buyer’s bank, Seller shall send to the Buyer’s bank (in bank to bank system) a pre-advise Performance Bond covering 2% of the invoice value and the Seller delivers the ICC recognized notary certified the Proof of Product documents (as per clause 16.1) confirming availability of the product and seller’s rights to sell the product (by courier service) to the Buyer’s address for onward transmission to the Buyer’s bank. The copies of such set Seller delivers by e-mail to the Buyer to speed up the verification process.

14.4 Buyer's Bank within 3 (Three) banking days after positive verification of POP,PB and the Seller’s company if not black listed within the inter-banking system, issues operative transferable Stand By Letter of Credit (SBLC) to Seller's Bank in favour of Seller which activates Seller’s Performance Bond automatically.

14.5 The Seller within 5 (five) banking days confirms acceptance of Buyer’s SBLC nominates a vessel and notify the Buyer for acceptance.

14.6 Within 3 (three) banking days of the vessel’s acceptance by the Buyer, the Seller assigns all POP documents through bank to bank system to the Buyer’s name provides the electronic copies of the ASPATANKVOY Charter party agreement, available shipping documents (per clause 16.2) and information on the loaded Cargo vessel for the buyer’s independent check as to the form of issue.

14.7 Upon confirmation of shipping documents’ approval by the Buyer as issued in correct way by the Seller, the loaded ship sets off sailing to Buyer's Destination.

14.8 Upon Vessel arrival at Destination, the Cargo shall be inspected by the Buyer's designated inspectors for Q & Q and product verification before the Cargo shall be discharged.

14.9 Upon Verification and confirmation of the product after full discharge, the Buyer’s bank shall settle payment with the Seller by Swift against the shipping documentation as per contract.

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