Please note, this method is only for SPOT transactions
Buyer sends ICPO, along with Passport to ALMA on receipt of Refinery’s Soft Offer
Buyer and ALMA conducts a video conference call for authentication.
ALMA conducts complete due diligence on Buyer, and once satisfied, sends a Letter of Interest, also known as LOIT. Communication commences.
ALMA issues commercial invoice CI, (Commercial Invoice) for the available quantity to Buyer, Buyer Signs and returns to ALMA with TSA and NCNDA/IMFPA signed by all buyer groups with commission structures.
Seller issues Dip Test Authorization letter sign by both parties (BUYER/ALMA) including Buyer's Tank Farm for proof of the Buyer's readiness to inject into Buyer's Tank upon successful dip test in seller’s tanks.
3.1 Seller and Buyer signs SPA (Sale and Purchase Agreement)
4.0. Refinery Approves the DTA attached with Tank Storage Receipt along with fresh SGS Report and Injection Report for Buyer, and orders SGS to conduct Dip Test on the product in Refinery’s Tanks on the Buyer expenses.
5.0. Upon successful Dip Test, Refinery shall immediately submit the full Proof of Product (POP) to the Buyer and transfer the product into buyer’s provided tank storage
6.0.Buyer reviews and approves the contract for the last time and issues SBLC/IRDLC irrevocable, non-transferable, auto revolving for 12 months shipment value, documentary letter of credit for length of contract and for each lift-able as schedule. Buyer pays after dip test by MT103 wire transfer on each monthly quantity.
7.0. The subsequent delivery shall commence according to the terms and conditions of the contract, and mandates / intermediaries receive their commissions according to monthly deliveries.
8.0 Injection of the product proceeds
Please submit your request to email@example.com or firstname.lastname@example.org ALMA will return your email within 48 hours from the issuance of the SDR. You can also call our head office at 289 296 1000.