"Commtrade Team understands the sensitive nature of Fuels trading and handle deals with transparency and professionalism. Above all no cicumvetion and no shopping around"
Major Fuels Marketing Group - North Africa
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Why Choose Commtrade?
Spot Transaction Procedure
CSO
Soft Corporate Offer for quantity, price and location in addition whether it is Tank to Tank, Change of ownership, or Tank to Vessel and / or finally vessel to vessel
ICPO
Buyer shall issue a Confirmation Purchase Order and also include CompanyInformation Sheet for the buyer
FCO
Seller Issues a Final Corporate offer to confirm all transaction terms issued in the CSO
Buyer Issues Proof of Fund in one of several ways, bank to banl or through a face to face meeting (which is permitted in specific markets)
DIP Test
Dip test is executed at the espxnse of buyer for the transaction
Fund / Title Transfer
Once dip test is executed and confirmed to be confirming to product specification and Internationa standards, payment is effected and change of fuel ownershi title is executed
Contract Transaction Procedure
Soft Corporate Offer for quantity, price and location in addition whether it is Tank to Tank, Change of ownership, or Tank to Vessel and / or finally vessel to vessel
Buyer shall issue a Confirmation Purchase Order and also include CompanyInformation Sheet for the buyer
Seller Issues a Final Corporate offer to confirm all transaction terms issued in the CSO
Buyer to issue LEtter of Cretit or Standby Letter of Credit for the contract monthly supply to guarntee all shipments planned to be part of the contract
Execution of contract purchase agreement for the transaction prior to supply
Delivery and supply of product based on executed documentation on amonthly basis as per the annual long term contract
Disclaimer
This Content is prepared by CommTrade Internation solely as abasis for discussion of certain issues. The information provided herewith is contains proprietary information and intended for discussion and illustrative
purposes.
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