Transaction Procedures
From first contact to delivery, step by step
Approved workflows according to delivery mode. Exact steps and documents are specified in the SPA.
Transaction workflow
Four stages, each with its document
The buyer submits an LOI; the seller may issue an FCO; upon commercial agreement, the SPA is signed.
Offer and LOI
The buyer sends a Letter of Intent; the seller responds with an FCO containing price, volume, and delivery mode.
SPA and Proof of Product
Signing of the Sales and Purchase Agreement and issuance of Commercial Invoice, availability statement, and allocation confirmation.
Banking Instrument
The buyer issues LC, SBLC, BG, or BPU through a top-tier bank; payment is settled via SWIFT MT103.
Inspection, Shipment & Title
SGS, Intertek, or Bureau Veritas certificates, clean Bill of Lading, and title transfer upon payment confirmation.
Flows by delivery mode
Four approved delivery modes
Maritime delivery with insurance included
- SPA
- CI
- POF (opt.)
- PPOP
- LC / SBLC
- Shipment
- Title (B/L)
- Documents
- Payment
- Delivery
Tank-to-tank transfer at seller's terminal
- SPA
- CI
- POF
- POP
- DIP
- Payment
- Title
- Injection
- Withdrawal
Book transfer of seller's inventory at terminal
- SPA
- CI
- POF
- PPOP
- IPA
- POP
- Payment
- Title
- Book transfer
- Buyer control
Tank Take Over
- ICPO
- CI / SPA + POF
- Allocation & POP
- Dip test (opt.)
- Tank takeover
- Payment
- Title
KYC
Documents Submitted by Buyer
- ICPO — Irrevocable Corporate Purchase Order
- CIS / KYC with banking details
- Company Incorporation Certificate / Business Registration
- Authorized Signatory Passport
FAQ
What every buyer asks
What is an SCO?
A Soft Corporate Offer: an informative, non-binding offer. It becomes a contract only when an SPA accepted by both parties is signed.
Which payment instruments are accepted?
SWIFT MT103 transfer (TT) or a documentary instrument: sight LC, SBLC, BG or BPU from a top-tier international bank; CAD or escrow case by case.
Who pays for inspection?
Quality and quantity inspection at the loading port (SGS, Intertek or Bureau Veritas) is at the seller's expense. The buyer may appoint a destination inspector for verification only.
How is price set?
Against Platts or Argus benchmarks (and ICIS, Fertecon or CRU for fertilisers), minus a negotiated discount confirmed in the SPA.
How are commissions handled?
Exclusively through NCNDA/IMFPA agreements between the parties.
Quote Request
Tell us the product, volume and destination.
A commercial analyst will respond with price, loading window, and recommended mode.