PROCEDURE
The key to our success is the clearly defined procedure we and our banks are working with. This is the only process to supply you Gas & Oil from our refineries and tanks.
1. OUR DOCUMENTATION
All our offers are unique and we only send out protected documents. Any unauthorized change leads to immediate cancellation of our offer. Changed or sanitized documents without our contact data, letter heads or security attributes will not be honored and are not valid.
2. NO POP UPFRONT
We only accept documents exchanged between the banks -secure and protected from fraud. Neither we nor our banks will ever send any POP before we have a guarantee from the Buyer in our bank. Our bank signs fully responsible for the product in place and our performance for the contract duration.
3. BANK TO BANK ONLY
All documentation comes from our refineries, banks or other authorities; respectively SGS or the port authority for example. Documents outside these sources are not acceptable.
4. BANK RESPONSIBILITY
Buyer’s bank and Seller’s bank manage the process and sign responsible for the funds, product and performance of both sides. We only use well established and performing banks.
5. NO PERFORMANCE BOND
No Performance Bond will be offered. We offer penalties inside the SPA on both sides.
6. COLLATERAL
We only accept BG/SBLC by MT760 as collateral.
7. INSTRUMENT ABUSE
We never trade the Collateral Instruments. Guarantees from our customers are collateral for the trade operations and nothing else.