Crude wanted urgently CIF China | Crude Oil (Buyers) | NCNDA.org 

Crude wanted urgently CIF China



Crude Oil (Buyers) Published date: March 13, 2019
Modified date: March 15, 2019



ON EITHER THE MT799 OR BG OR MT103/72 OR MT103/23

1. PROCEDURES / PAYMENT INSTRUMENT:

2. SELLER AND BUYER SIGN CONTRACT AND BUYER SENDS BACK THE SIGNED
CONTRACT WITH HIS COMPLETE MATB FORMAT.

3. SELLER SEND PROOF OF PRODUCT AND VESSEL DETAILS TO BUYER.

4. BUYER’S CARGO AGENT COMMUNICATE WITH SELLER’S SHIPPING AGENT TO
VERIFY VESSEL AND CARGO. BOTH SHIPPING AGENTS SUBMIT CUSTOMS
DECLARATION OF VESSEL AND BUYER’S NAME TO CUSTOMS AND PORT
AUTHORITY FOR REGISTRATION.

5. UPON CONFIRMATION OF CUSTOMS DECLARATION AND REGISTRATION,
INCLUDING THE RECEIPT OF THE “NOTICE TO ENTER PORT” BY THE BUYER’S
CARGO AGENT AND THE VESSEL CAPTAIN, VESSEL CAPTAIN SHALL ISSUE
NOR/ETA TO BUYER AND BUYER’S CARGO AGENT.


6. UPON RECEIPT OF THE ABOVE, BUYER’S BANK SHALL ISSUE THE MT799
OR BG OR MT103/72 OR MT103/23 FOR THE FULL CARGO TO THE SELLER’S
DESIGNATED BANK.

7. UPON THE RECEIPT OF THE MT799 OR BG OR MT103/72 OR MT103/23 SELLER’S BANK SENDS CARGO DOCUMENTS TO THE BUYER’S BANK.

8. VESSEL ENTERS PORT AND DOCKED AT THE BERTH DESIGNATED BY THE BUYER’S CARGO AGENT. CAPTAIN PROCEEDS TO DISCHARGE THE CARGO INTO THE BUYER’S STORAGE TANKS AND BUYER’S INSPECTOR TAKES SAMPLES FOR
QUALITY ANALYSIS.

9. AFTER SUCCESSFUL Q AND Q, BUYER RELEASES CIQ INSPECTION REPORT TO THE SELLER AND BUYER. SELLER PREPARES ALL THE NECESSARY SHIPPING DOCUMENTS INCLUDING THE WARRANTY OF TITLE (WOT).

10. SELLER ISSUES COMMERCIAL INVOICE BASED ON THE CIQ INSPECTION REPORT, ALL NECESSARY SHIPPING DOCUMENTS AND THE WARRANTY OF TITLE TO THE BUYER’S BANK FOR PAYMENT.

11. BUYER PAYS BY MT103 OR TT FOR THE ENTIRE CARGO AND SELLER HANDS OVER TITLE DOCUMENTS TO BUYER’S BANK.

12. NEXT SHIPMENT COMMENCE IMMEDIATELY.






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