Greetings and respect
Transparent and successful purchasing process for Petrolino products
Dear Buyer, to ensure sustainable cooperation, the steps for purchasing Petrolino Blending products via transferable LC are presented as follows:
Step 1
Submit an initial request (LOI)
Please submit a Letter of Intent (LOI) with full details of your requirements. This form should be available to you on our website. If your requirements are not met by our existing products, we will try to suggest the best option for you by reviewing existing formulations or referring you to our R&D department.
Step 2
Signing a Non-Disclosure Agreement (NDA) and Buyer Information
To maintain confidentiality, we will send you a Non-Disclosure Agreement (NDA). Also, a simple form to collect your general information is available on our website. After that, we will receive the necessary documents to verify your identity (such as a business license and CEO passport). These documents will be carefully reviewed by us.
Step 3
Submit an official application
Please submit a formal application explaining the purpose and how you will use our product. If you are a broker, you will sign a brokerage agreement with us to represent your interests and introduce us to the final buyer.
Step 4
Providing technical specifications (SCO) and draft contract
After receiving your information, we will send you the SCO.
*Please submit a Purchase Order (ICPO) along with your complete banking information for our review.
* After checking your bank and business history, we will provide a draft contract for your review and approval.
* After ICPO approval, we will issue you a Proforma Invoice (PI).
* After you review and approve the proforma invoice, we will agree on the correspondent bank for LC payment.
* The contract is signed electronically and sent to the relevant banks (buyer’s bank and seller’s bank).
Step 5
Product inspection
Product inspection at our factory is carried out by your representative:
- Obtaining a driver’s license
- Driver’s signature on the container lid
- The buyer is responsible for providing the vehicle (delivery is not done at the border)
- Vehicle tank inspection is required before loading.
- A control sample is taken from the vehicle.
- For FOB and CFR buyers, SGS testing is available.
Step 6
Providing logistical information
For FOB and CFR customers, we provide you with the logistics information you need, including land transportation information to the port and shipping information.
Step 7
Opening a Letter of Credit (LC)
You go to your bank and open an LC in accordance with the proforma invoice.
LC Terms: Irrevocable | Transferable | In accordance with UCP 600 regulations
Your bank (buyer) notifies our bank (seller) of the LC and we review and approve it.
Step 8
Sending final documents
B/L
CI
PACKING LIST
COO
COA
Step 9
Final payment
According to the agreed payment terms, the issuing bank releases the funds and pays us after matching the documents with the terms of the LC.