Buyer letter head
1. Seller issue signed SCO
2. Buyer issue ICPO&BCL&COMPANY PROFILE
3. Seller: Issue FCO and Contract daft (480,000,000 barrels ILCO,24 month)
4. Buyer sign and seal FCO & and send mt.999 or mt.799 for %20 of one month contract as proof of fund,
5. Buyer sign and seal contract& consultancy fee protection agreement
6. Seller sign and seal the contract
7. TT meeting will be held and hard copy of contract will be signed and sealed by buyer and end seller，documents will be presented by both parties (documents of product like as allocation letter by seller and proof of fund by buyer). Both parties lodge copies of the final to their respective nominated Banks.
8. Buyer Bank endorses the consultancy fee protection agreement.
9. Buyer & seller: Deposit %20 one part of contract (20,000.000BLs)against (Seller %110 BG) with 36 months +1 day validity & maturity
10. Buyer: issue 20,000,000 BBLs value as Non Operative LC
11. Seller : Issue %2 of LC value as PBG
12. Buyer : Operative LC
13. Seller: Start loading according the schedule.
14. Upon confirmation and completion of all verification, shipment and delivery commences as per contract.
15. Buyer’s bank releases payment to the seller as per contract agreement.