Procedure:

1.      Buyer issue LOI or ICPO to the Seller.

2.      Seller sends FCO to the Buyer.

3.      Buyer sign and return FCO.

4.      Seller issue contract to the Buyer.

5.      Buyer signs the Contract and return to the Seller.

6.      Seller issue Soft POP for Buyer confirmation.

7.      Seller’s Bank will issue full POP and 2% PB. After acceptance of POP and PB, Buyer will issue RDLC for the remaining payment direct to the Seller’s Bank.

8.      Delivery will commence.

11. after Buyer receives the oil, Insurance Company will send the deposit to the Seller