D2 Diesel Purchasing Procedures

Direct contact is made between National D2 Diesel and Principal Buyer or mandate.

 

Buyer submits a corporate overview and describes the product they are looking for, method of payment and terms they are looking for.

 

 

1. Buyer issues a request for a quote (RFQ).

2. Seller issues draft contract after receiving Buyer’s RFQ.

3. Buyer and Seller agree to amendments as necessary and sign/seal.

4. Buyer’s Bank issues a Pre-Advice agreeing to issue their Letter of Credit.

5. Seller’s bank verifies receipt of the Buyer’s Pre-advice, and confirms the availability of Seller’s non-operative Performance Bond equal to the Annual Contract Value.

6. Buyer issues a non-transferable, divisible, Cash-Backed Letter of Credit for the value of one month’s delivery, valid for 13 months.

7. Seller’s Bank activates the Sellers Performance Bond.

6. Seller issues Proof of Product; Buyer verifies evidence and confirms with Seller.

7. Seller issues Laycan dates and Q88.

8. Loading of goods is initiated per schedule. Buyer issues payment of liftable product upon loading.

9. Title transferred and product lifted. Balance of Proof of Product documents issued at time of lift. CIF shipping as per contract.