1) BUYER ISSUES LOI (LETTER OF INTENT);
2) SELLER ISSUES FCO (FULL CORPORATE OFFER);
3) BUYER ACCEPT FCO, IS CONVERTED AUTOMATICALY IN AN IRREVOCABLE CORPORATE OFFER – ICPO;
4) BUYER’S BANK SENDS TO SELLER’S BANK THE MT- 799 AS PROOF OF FUNDS;
5) SELLER SENDS TO BUYER ALLOCATION CODE FOR THE FIRST SHIPMENT OF 1.000.000 BARRELS;
6) SELLER SENDS TO BUYER THE DRAFT CONTRACT FOR BUYER ACCEPTANCE;
7) BUYER AND SELLER SIGN AND SEAL END CONTRACT;
8) BUYER’?S BANK SENDS TO SELLER’S BANK THE COMMUNICATION OF THE DRAFT TEXT OF RDLC, FOR SELLER’S BANK APPROVAL.
9) SELLER’S BANK SENDS TO BUYER’S BANK THE COMMUNICATION OF ACCEPTANCE OF THE DRAFT TEXT OF THE BANK GUARANTEE OR RDLC, FOR ITS ISSUE AND SENDS THE RDLC BY SWIFT.
10) BUYER’S BANK SEND TO SELLER’S BANK BY SWIFT THE BANK GUARANTEE OR REVOLVING DOCUMENTARY LETTER OF CREDIT – RDLC ( APPROVED ).
11) BUYER SENDS THE Q88 OF THE SHIPS TO THE REFINERY.
12) SELLER SENDS TO BUYER THE COMMERCIAL INVOICE FOR THE TOTAL OF THE AMOUNT OF THE PURCHASE AND ALL LOADING WINDOWS, SHIPPING SCHEDULE INDICATING ALLOCATIONS, DOCKS, SATELLITE COORDINATES DATE AND TIME OF LOADING.
13) ON LOADING DAY THE REFINERY DELIVERS THE COMMERCIAL INVOICE OF EACH SHIP LOADED , THE SGS INSPECTION AND FULL POP.
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