CIF PROCEDURE – EN590 10PPM / ULSD 10 / GASOIL 10 / JET FUEL A1
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1. BUYER issues an LOI to the SELLER and the SELLER revert with an FCO.

2. BUYER issues an ICPO to the SELLER and attach the below mentioned documents.
I. Product Specification
II. MT700 Verbiage Approved from BUYER’S BANK.
III. CIF Procedure as mentioned.
IV. Business Permit & Certificate & Articles of Incorporation.
V. Bureau of Customs (Import) – Registration and Accreditation.
VI. Port Permit to Operate.
VII. Department / Ministry of Energy – Accreditation.

3. SELLER issues Contract (SPA) to the Buyer open for Amendments and the Final Version the BUYER Signs and Send to the SELLER latest by Three (3) Working Days in Word Format with Company Seal and Signature and the SELLER confirms Acceptance with Company Seal and Signature and send Back the Contract (SPA) in PDF Format to the BUYER.

4. The BUYER’S BANK sends the MT700/LC or MT760/SBLC PRE-ADVISE latest by Three (3) Working Days via MT705/MT799 towards Acknowledgement for Approval from the SELLER’S Designated Bank.
Note:
I. Third Party Bank Instrument is Accepted by the SELLER.
II. The Issuing Bank must have a Relationship Management (RM) / ADD CONFIRM / ADVISE to Receiving Bank –
“UNITED OVERSEAS BANK (THAI) PUBLIC COMPANY LIMITED (UOB)” / SWIFT Code : UOVBTHBK.

5. After MT700/LC OR MT760/SBLC Verbiage is Received by the SELLER’S BANK then the SELLER issues following PPOP Documents from their Company addressed to BUYER:
I. Product Passport.
II. Letter of Commitment to Supply from the Tank Firm.
III. Proforma Invoice for MT700/LC or MT760/SBLC Issuance.

6. BUYER’S BANK in accordance with Seller’s Bank Approved Verbiage shall issue the MT700/LC or MT760/SBLC within Three (3) Working Days from to the Designated Bank Stated of the BUYER mentioned in the SPA.
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NOTE:
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I. The 2% Performance Bank Guarantee (PBG) of One (1) Shipment Value is Provided by the SELLER.
II. If the BUYER is Unable to Issue the MT700/LC or MT760/SBLC within Three (3) Working Days then the BUYER must Pay 2% Penalty of One (1) Shipment Value to the SELLER.

7. Upon SELLER’s BANK Receipt and Confirmation of the MT700/LC or MT760/SBLC from the BUYER’S BANK, the SELLER Loads the First (1st) Shipment on the Fifteenth (15th) Calendar Day and Issues the POP Documents. The LOAD PORT will be either Any Safer Port, Malaysia or Any Safe Port, Indonesia.

8. SELLER sends to the BUYER - Proof of Product (POP), Complete set of Documents, consisting of the following.
I. Certificate of Quality and Quantity Analysis (SGS) Report at the Load Port.
II. Commercial Invoice considering the Quantity Analysis (SGS) Report from the Surveyor at the Load Port stating the Exact Quantity.
III. Insurance Policy 110% of the Total Value of the Product as Per Commercial Invoice, in favor of the Buyer, which is valid until the time ownership of the cargo is transferred to the Buyer.
IV. Certificate of Origin of the Product and 2 Copies.
IV. Vessel Q88.
V. A full set of 3/3 Originals and 2 copies of Ocean Bill of Lading (BL) made out “Clean on Board” marked “Freight Pre–Paid”.
VI. Estimated Time of Arrival (ETA) Letter to the Port of Destination.
VII. Authorization To Board (ATB) Letter to the Buyer towards Cargo Verification at Discharge Port.
VIII. Authorization To Sale (ATS) Letter to the Buyer. This ATS Letter will be effective after the ownership is transferred to the Buyer.
IX. Dip Test Authorization Letter to the Buyer to Conduct Quality and Quantity Inspection at the Discharge Port.
X. Final Commercial Invoice after Certificate of Quality and Quantity Analysis (SGS) Report at the Discharge Port.

9. Banking Documents -
I. 1/3 Final Commercial Invoice and 2 Copies, Calculated According to the Price and Quantity stated by the Q & Q Surveyor at the Discharge Port.
II. 1/1 Insurance Policy f and 2 Copies of the Total Value of the Product, in favor of the Buyer, valid until the time Ownership of the Cargo is Transferred to the Buyer.
III. 1/1 Certificate and 2 Copies of Quality and Quantity Analysis carried out on the Ship's Tanks by the Quality and Quantity Inspection Authority (SGS) designated for this purpose.
IV. 1/1 Certificate of Origin of the Product and 2 Copies.
V. 3/3 Bill of Lading and 2 Copies. The B/L to be Signed in Original by the Ship’s Master and for the Twelfth (12th) Shipment will be “Bank” Issued or Endorsed.

10. As per the Final Commercial Invoice after Certificate of Quality and Quantity Analysis (SGS) Report at the Discharge Port is Obtained, the BUYER Remits Full Amount of the Commercial Invoice Value to the SELLER’S Designated Bank within Forty-Eight (48) Hours.

11. Second and Succeeding Shipments Continues with the BUYER by the SELLER.
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NOTE: For full CIF Procedure please send us an email.
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