Buyer signs FCO + issues CIS + BCL (bank comfort letter) *incl. instrument to be used for the transaction & the name of the issuing bank
Seller conducts due diligence
On successful due diligence the Seller Financier & end Buyer engage directly to complete the purchasing process
Commission paid out by The Trading Place as per IMFPA
NB!
*T&C’s apply | no deviation from SOP shall be entertained | no further mark-up is allowed | $5/mt coms applies | prices & sop’s fluctuate as per refinery and are indicated in SPA | *all transactions are done via The Trading Place (TTP) … no buyer will engage directly with TTP sources
