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