 JP54: 2 mil bbls are ready to lift in Houston (Offer to Sell)
Trade Lead Description:
JP54: 2 mil bbls are ready to lift in Houston already and that they
are waiting for the ICPO
The procedures for JP54 are exact what are stated here:
1.Buyer issues ICPO to Enable Corp with Soft probe permission
2. Seller Issues FCO and Draft Contract to be confirmed and signed by
the Buyer. Buyer and Seller exchange the signed contract via
electronic mail, which shall be deemed legally binding and
enforceable.
3. Upon acceptance of Draft Contract Buyer Partial POP and tank receipts.
4. Buyers bank sends to Sellers bank the 100% SBLC to the value of one
month shipment. Payment instruments will be non operative at this
stage and this must happen within 24 hours when partial POP has been
sent to Buyer.
5. Sellers Bank within 48 hours confirms to Seller the viability of
the assigned Buyers financial instrument kept aside specially for the
purchase of the product.
6. Sellers bank issues 2% full active PB and full POP sends to Buyers
bank and activate Buyer
Posted from India - Tamil Nadu on 15 November, 2009
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