FREQUENTLY ASKED QUESTIONS (FAQ)
     
 
  1. LOI or ICPO must be updated (not older than 3 days) and properly issued, granted seller's bank to take soft probe. Shipping destination port (non-sanctioned) is required;

  2. BCL (Bank comfort Letter) must be updated (not older than 3 days) and issued on original bank letterhead, signed/sealed by two bank officers, indicating the order value at buyer's account is available, granted seller's bank to take soft probe;

  3. Enquiries without LOI & BCL (including soft probe) will be ignored;

  4. Buyer's bank must be one of the 25 World Prime Banks;

  5. SBLC / FFDLC pricing stands for the entire contract value;

  6. DLC pricing stands for monthly shipments value;

  7. RDLC revolving per shipment is acceptable;

  8. Non-transferable payment instrument will have extra charged of USD12.00/MT;

  9. POP will be provided from seller's bank only after buyer's bank submits the (Non-operative) DL/C ;

  10. No visits at refineries / silos / producers will be approved;

  11. Visit to port of loading can be arranged at buyer¡¯s expense;

  12. Unless otherwise published ¨C products are available at any quantity;

  13. FOB is not an acceptable INCOTERMS.

  14. MOQ (Minimum Order Quantity) 12,500 Mt on CIF basis only.