FREQUENTLY ASKED QUESTION [FAQ]
A. If one follows the refinery procedures as written, the deal can be successful within a short time.
A. Within 48-72 hours (Approx.)
A. Yes it is done on the seller’s cost.
A. Approx. 25-40 days depending on the port of destinations.
A. Yes BUT only through the officially appointed mandates.
A. 1. Buyer’s name of the product, quantity and destination. 2. The procedure of the refinery has to be included. 3. Passport copy and 4. Company’s registration documents are mandatory.
A. PPOP will be given after submitting the LOI or ICPO directly to the refinery within 48-72 hours (as PPOP). NOTE the LOI and ICPO must have the refinery procedure and the buyer’s quantity destinations.
A. Once the instrument is issued to the seller, the NCNDA commission agreement will be issued by the refineries as mentioned in the procedures.
A. Price is applicable as on the date of the receipt of the ICPO. Approximate pricing can be provided and final price would be confirmed on receipt of the SPA/CI.
A. Payments are required by the refineries at the end of the simple procedures. No upfront payment is required.
A. There are various procedures which are slightly different for CIF and FOB. On the whole the refineries procedures are to be followed by buyers. There is no risk of upfront payment.