CIF DELIVERIES TO ANY SAFE WATER PORT
Our Seller works as an the interface between Refineries and Buying companies, Our Seller is in partnership with Refineries of the Russian federation and work strictly using these Refineries uniform stringent purchase and CIF delivery procedures which are Buyer friendly.
For all CIF Contracts with the Buying Companies, the Refinery ships the requested product to the Buyer’s nominated port on behalf of our Seller on a Tri-Party Charter Party Agreement (CPA) signed between our Seller, the Refinery and the Shipping Company. Our Seller pays the Advance Provisioning Allowance (APA) along with 50% of the shipping fees paid by the Refinery. The balance is paid by our Seller after full delivery of shipment to Buyer’s port of discharge. The insurance is secured by our Seller for all CIF delivery contracts.
Our Seller never asks for any advance fees from the Buying companies as they strictly follow ICC guidelines of INCOTERMS 2010 supported by ICC UCP 600 and ICC URDG 758 for Documentary Credits. Our Seller issues automatic revolving 2% Performance Bond by SWIFT MT 760 (BG) on all their contracts. They Issue Proof of Product (POP) which is warranty of the product and Two percent Performance Bond (2% PB) which is the guarantee for delivery of shipments. These are the foundations of all their contracts.
Once the buying company fills the mandatory attestation form below; this requirement acts like the buying companies ICPO/ Letter of intent and also confirms buyer has accepted the trade process and price and is in full readiness to begin trade process. On receipt of the attestation form the Seller will prepare and issue an Official Full Corporate Offer (FCO), this will be addressed and sent directly to the Buyer.