CIF – buyer is responsible for clearing, duties & taxes, stevedoring, port handling in & out, inspection, storage, import obligations etc (ie for buyers cost)
lead delivery time = 15-20 days (SA) *other ports TBA
Seller registers and legalizes SPA and provides Partial POP documents:
Certificate of Origin
Commitment to Supply
Statement of Availability
Export License
Buyer issues transferrable bank-to-bank SBLC to The Trading Place bank (from top 25 international bank)
The Trading Place monetises the banking instrument
Seller verifies shipping company & issues full POP documentation:
Fresh SGS Report
Bill of Lading
Tank Receipt
Q&Q Report
NOR, ETA
ATSC
Customs Documentation
NCNDA/IMFPA (notarized)
Shipment commences
Buyer arranges for inspection at destination port
Buyer releases full SBLC funds
Product is discharged into Buyer’s tanks; title ownership transfers to Buyer (all import costs, inspection, customs duties, port handling etc is borne by the Buyer)
The Trading Place pays commissions within 24hrs of final cleared payment
*T&C’s apply | no deviation from SOP shall be allowed | no further mark-up is allowed | total $5/mt coms apply (paid out to TTPA) | prices fluctuate daily
