Q. How can a deal be closed successfully?
A. If one follows the refinery procedures as written, the deal can be successful within a short time.
Q. How long does it take to get a Commercial Invoice (CI) or Sales Purchase Agreement (SPA)?
A. Within 48-72 hours (Approx.)
Q. Can refinery's export license be provided?
Q. Is Statement of Product Availability provided?
Q. Can Certificate of Ownership be provided?
Q. Can Certificate of Origin (COO) be made available?
Q. What about inspection?
A. Yes it is done on the seller's cost.
Q. What is the transit period for CIF?
A. Approx. 25-40 days depending on the port of destinations.
Q. Can the POP be issued before the ICPO?
Q. Can one approach the refineries directly?
A. Yes BUT only through the though officially appointed mandates.
Q. Is the supply direct from the refineries?
Q. What must the ICPO include?
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 company's registration documents are mandatory.
Q. When can one get the PPOP?
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.
Q. How can one get the NCNDA commission form?
A. Once the instrument is issued to the seller, the NCNDA commission agreement will be issued by the refineries as mentioned in the procedures.
Q. What is the price?
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.
Q. What are the payment terms?
A. Payments are required by the refineries at the end of the simple procedures. No upfront payment is required.
Q. What is the procedure to be followed for petrochemicals?
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.