CIF Chinese Port Edible Oil CIF
Sunflower seed oil Price
Crude oil $…
Refining …
Corn oil….
Crude oil …
Refining ….
palm oil…
Crude oil…
Refining …
methyl…
Ester …
Rdb/Cp8….
Cp10 USD ….
soybean oil….
Crude oil $…
Refining $..
canola oil
Crude oil $…
Refining $…
CDR $
Origin Malaysia, CIF Malaysia to Hong Kong, China
D. Standard operating procedure:
- NCNDA, ICPO, KYC
- Draft SPA; MT760 draft sample wording
- SPA signing and IMFPA signing
- SBLC issuance process
1) After the contract is signed, the seller shall provide the RWA fund certificate valid for one year from the financing bank, and the buyer will arrange MT 799 to the seller’s designated Hana Bank
2) Seller confirms MT 799.
4) The buyer’s bank issues SBLC 760 to the seller’s designated bank, and the amount of SBLC 760 is equivalent to two months’ cash payment amount
5) After 760 confirms the successful loan, ABO will pay the buyer an issuance fee of 2% of the face value of SBLC.
6) After the buyer’s SBLC 760 VERIFIED and the loan is successful, the seller will immediately provide 2% PB to the buyer’s account, otherwise the buyer can forcibly cancel the SBLC 760, and the seller will be fined 2%. - The seller starts shipping according to the SPA.
- The buyer pays 103 TT after inspection at the buyer’s port.
- The buyer uses SBLC for 12 consecutive months and pays 103 TT for each month’s cargo volume.
E. Notify
- Seller/Name: ABO INTERNATIONAL GROUP LTD/Supplier
- Price effective time: July 2023