Standard Procedures. FOB Rotterdam.
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Standard Procedures. FOB Rotterdam.

1. Both parties sign and seal the contract, and exchange electronically.

The signed contract is to be lodged to the respective banks.

2. The sellers provide the buyers with Partial POP.

3. The buyers provide the sellers with POF.

4. The sellers provide the buyers with Full POP.

5. The buyers provide the sellers with NON OPERATIVE LC. (to be activated against PBG)

6. The sellers provide the buyers 2% Performance Bond Guarantee (PBG) .At this stage the LC is active.

7. The sellers request the buyers consent on tankers to be chartered by the sellers.

8. Shipment as per the contractual schedule.

9. Payment as per LC against the required shipping documents.

We are immediately ready to buy any petroleum product in the above procedure.

Looking forward to our beneficial cooperation

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