Petrochemical Supplier Operations Procedures

PETROCHEMICAL SUPPLIER OPERATIONS PROCEDURES

1st

The first step is a formal LOI from the buyer and Company Profile (CP).

1st

2nd

Supplier has conference call with buyer to discuss Price, Procedures & Logistics in detail.

2nd

3rd

Seller issues Soft Corporate Offer (SCO).

3rd

4th

Buyer issues and releases to Seller Full ICPO with logistics information.

4th

5th

Seller will then issue a SPA / Contract

5th

6th

Buyer issues Proof of Funds

6th

7th

Seller accepts and returns signed ICPO with CI – Commercial Invoice. Buyer sign CI and send it back within 24 hours and returns it to Seller. Seller provides to Buyer the below Partial Proof of Product documents via email:

a. Corporate Invoice.
b. Authorization to verify (ATV)
c. Passport Product Analysis
d. Certified Product Specification Sheet
e. Certificate of Origin
f. Tank Storage Receipt
g. Title Ownership Certificate with all PPOP Export Documents
h. Refinery Confirmation, Availability and Commitment to Supply

7th

8th

Buyer issue after PPOP verification Information by SWIFT MT 199 to seller’s bank that: Buyer’s bank make payment by MT103 after Q&Q – Quality and Control certificate in loading port seller.

8th

9th

After SWIFT confirming Seller issue to Buyer

a. Dip Test Authorization
b. Authorization to Inject.

9th

10th

Buyer makes payment MT103 to Seller.