D2 Spot 20m mt 510/550 Houston

cologne1967 · Newbie Anmeldungsdatum: 10.01.2006 Beiträge: 16

Procedures.....
(1) Buyers issues an ICPO with soft Probe and BCL or RWA
(2) Seller Issues an FCO
(3) Buyer signs and Return FCO
(4) Seller Issues the 'SPOT' CONTRACT to Buyer to Sign and Return.
Contract is signed by both seller and buyer and each receives copy and
contracts are lodged at buyer and seller bank officers.
Buyer requests that FCO & CONTRACT be sent at the same time so to
expedite the process -- this is not a requirement,just a suggestion
(4a) Seller bank send conditional POP TO Buyer bank
(5) Buyer instructs his bank to issue conditional POF MT103/23 to seller's
designated bank on bank-bank level
(6). Seller bank after verifying the POF authenticity, then SENDS their
'FULL' POP to
Buyer's bank on bank-bank level Consisting of following documents.
STORAGE TANKS (LOCATED IN ROTTERDAM) RECEIPTS CURRENT
DATE 'SGS
INSPECTION CERTIFICATES RE PRODUCT D2 QUANTITY & QUALITY
(7) Buyer bank verifies Product 'D2' POP authenticity ASAP.
Buyer then sends transfer of funds by MT103, the Seller transfers
Merchandise
TITLE, The DEED of OWNER-SHIP to Buyer or his nominated party's name
and
present the pertaining documents to Buyer's bank.
Payment effects through swift wire Transfer within one(1) banking day to
seller's
designated bank.
(8)Complete process to close the deal takes only 2-4 day