Description
When contacting us we would require the following info: Destination
port, quantity required, AGO product specifications and payment
method. Please see our procedures below and we look forward to
hearing from you soon.
KAMPAC OIL
PROCEDURE for selling AGO (CIF)
1. Buyer must be certain their Credit Line or LC payment instrument
is in place before contacting Kampac
2. Buyer send LOI with BCL that is not more than 3 months old to
Kampac
3. Kampac after Due Diligence on the Buyer issues SPA and FCO for
Buyer Acceptance
4. Buyer after acceptance of SPA signs and send to Kampac
5. Buyer must put in Demurrage Guarantee Security of about *0 days
(Average amount is about US$**0,**0.*0 in most countries except few
that may be less) Please note this security money is refundable if
the Buyer do not go into Demurrage, the security is always
deductible from the final payment of the LC for the product. The
Demurrage Guarantee Security must be paid to Kampac immediately
Kampac gives the Buyer the programming of the vessel.
6. Buyer Bank issue IRDLC according to SPA term, the IRDLC must be
from any of the top *5 Banks in the world that are Grade A Bank or
triple A Bank grade.
7. Kampac issues 2% performance bond that activates the LC
8. Kampac bank gives the Buyer’s bank, POP in form of Charter
Party, Programming of the Vessel, Contract with the Refinery, Bill
of Lading, SGS Report and all necessary documents.
9. The LC is cashed after discharge of product
