General Procedure 

 

1. Buyers Issues LOI

2. Seller Issues SCO

3. Buyer issues official ICPO to seller with exact procedures mentioned in SCO along with Corporate Profile and valid Scan Passport Copy of CEO/signatory and company official registration paperwork showing company legal registration number, Name, address, etc.

4. Seller issues “FCO” or “SPA” and NCNDA/IMFPA to Buyer at seller’s discretion.

5. Buyer sign and returns contract and NCNDA/ IMFPA to seller. (To be endorsed by the notary public in both countries).Buyer optionally visits the refinery. 

6. Within (2) Two International Banking Days, the Buyer signs, seals, dates and returns “FCO” or “SPA” (as issued) to Seller along with a valid and current “Bank Comfort Letter” (Less than 3 Month’s old), with the authority for Seller to carry out a Soft Probe.

7. ​Within (2) International Banking Days, the Seller issues a Commercial Invoice (“CI”) and Draft Contract (if not issued before), pursuant to the Procedures of Business as set out in the Sellers FCO or SPA, to the Buyer, for amendment (if necessary) and return to the Seller signed and executed.

8. Within (5-7) Five-Seven International Banking Days, the Buyer issues Proof of Funds (“POF”) to Seller by MT799 / MT199 / MT999 by “SWIFT” - “Bank to Bank” process, from Buyer’s Bank to Sellers Bank

9. Within (7) Seven International Banking Days, the Seller issues Proof of Product (“POP”) “By Secured E-Mail to the Buyers Bank / Buyer”  consisting, but not limited to:                                                                                                                                                                               

   • SGS Inspection Report or equivalent (“SGS”),

   • Dip Test Analysis Report - Product Passport ("DTAR"),

   • Certificate of Origin (“COO”),

   • Tank Storage Receipt (“TSR”)                                                                                                                                                                        

10. Within (5) Five International Banking Days, the Buyer obtains satisfactory confirmation of the Tank Loading Terminal documents and Dip Test by the Buyer, and the Buyer’s bank issues an MT103 for 100% of the Trial Shipment/Lift against the Title Transfer document’s and following receipt of the balance of the necessary documents to lift the product from the Seller.                                                                                                                                                                                                                                                                                                                                                   . After Trial Shipment and Successful Delivery - Annual Contract Commence:                                                                                                    

11. Upon successful delivery of the Trial Shipment/Lift, the parties are engaged in a minimum twelve (12) Month Contract with R&E of up to (48) Month’s Plus (60) Month’s at Buyers Option, and within (5) Five International Banking Days, the Buyer's Bank will issue a revolving  Divisible Standby Letter of Credit (“SBLC”) / Bank Guarantee (“BG”), with a minimum validity of (365+1 Days) equal to the Contracted monthly shipment value.

12. Lifting of the product shall commence, as per the Lifting Schedule pursuant to the Contract, with each shipment thereafter commencing within (5) International Banking Days from when the Buyer’s Divisible “SBLC” / “BG”, has been formerly accepted and confirmed by the Seller and the Sellers Refinery Supplier.

13. “100% Payment, (within 24 Hours) following the Buyer being in receipt of all the relevant “Shipping Document’s”, inclusive of the Sellers Commercial Invoice, Title Transfer to Buyer, and after Positive Dip Test at Discharge Port “Rotterdam” in which the Buyer shall pay to the Seller by MT103 “SWIFT”, after successful Q & Q. the due amount to the Sellers Bank or as so directed by the Seller

Note - While our procedure standard is flexible based on clients’ needs, MacFree trading is held to Non-Disclosure Agreements (NDA´s)

 

 

PRODUCTS

 

We provides a wide range of Light, Middle, Heavy Distillates Petroleum, Residuum and Crude Oil, Petrochemical, and specialized products to buyers and contractors from reputed supplier worldwide including but not limited to:

 

• Crude Oil

• Fuel Oil, Marine Fuel Oil / Marine Gas Oil, CST180, CST380, HSFO, LSFO, MDO, MGO, RMG 380, Bitumen, Asphalt / Gilsonite, Mazut

• Kerosene, Jet Fuel, Jet A-1 (ATK), JP54, JP-8, ULSD, Diesel, D2, Gas Oil AGO, IDO

• Gasoline/PMS, MOGAS, AVGAS

• LNG, LPG, Gas Condensate

• Methanol, Fertilizers, Urea, Additives and Lubricating Oils

 

We also offer a comprehensive range oil and gas industry products including but not limited to:

 

• Oil Country Tubular Goods (OCTG)

• Line Pipes,Casing Pipes and Industrial Pipes

• Winterization Equipment