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The supplier in this case is a well known North American Oil company that has a JV arrangement with 8 Russian refineries. Contract is between the Oil company and the buyer. Procedures (abbreviated)
1. ICPO with profile, bank reference letter and indication of past performance (we will provide the ICPO template) 2. Seller issues draft contract
3. Buyer and seller agree to amendments as necessary and sign
4. Buyers bank sends to sellers bank MT999 notifying readiness (we will provide language) to proceed and requesting POP information
5. Sellers bank replies with evidence of fuel
6. Buyer verifies evidence
7. Seller issues Laycan dates and buyer issues instrument for first months delivery and Q88
8. Loading of goods as per schedule with payment by MT103
9. Typical documentation provided on lift.
Sellers bank is J.P. Morgan Chase and Chase holds the full POP for all this refinery group's product and will pro
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Trade Leads Directory -> All Trade Leads -> Chemicals -> Petroleum Products: Crude Oil -> JP54, D2, EN-590, production contract
