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Product detail:
1 Buyer issues Letter of Intent (LOI) to seller. Seller issues SCO/FCO to buyer for counter-
checks the offer and if agreeable, buyer shall sign and return the SCO/FCO to seller.
2. Buyer issue ICPO (Irrevocable Confirmed Purchased Order).
3. Seller will issue FCO / SCO to buyer.
4. Buyer fully endorsed & returned seller’s FCO as acceptance.
5. Seller provided Draft SPA (Sales and Purchase Agreement) and verbiage LC for amendments
& acceptance.
6. Seller issue the Performa Invoice for buyer to prepare the DLC / Documentary Letter of
Credit
7. Buyer & Seller acceptance sign & seal contract
8. Seller provides Partial Proof of Product (PPOP) immediately on signing contract to be verify
by the relevant authorities.
9. Buyer issued the Operative LC, Seller will issued 2% Operative PB, after verified at seller
bank, arrangement for viewing oil, deep test and sighted POP will be done.
10. Seller shall provide the POP (Proof of Product / Shore Tank details and actual viewing and
inspection of products) to the Buyer.
11. Cargo ownership transfer to the Buyer.
12. Buyer may begin to proceed with the collection / loading of oil.
13.Kindly contact us if have any inquiry.
