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Eco Fuel Oils will only, deal with companies that have
complete business integrity and professionalism.
We will only do business according to
international accepted standards as set forth by the International
Chamber of Commerce (ICC).
Our procedures are as follows:
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Buyer issues Letter of Intent.
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Seller issues Proforma / Full
Corporate Offer (FCO).
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Buyer signs and returns proforma / FCO.
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Seller and buyer sign Non
Circumvention Non Disclosure Agreement
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Seller and buyer sign Supply Contract (SC).
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Buyer’s bank issues to Seller’s bank the Proof
of Funds.
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Seller’s bank issues to Buyer’s bank the Proof
of Product (POP).
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Buyer and Seller execute the terms of the SC.
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Seller’s bank (being a large Internationally
recognised Bank) notifies the Buyer’s bank that they are ready to issue
non-operative Performance Bond (PB) to the Buyer’s
bank. The PB to be obtained from a reputable insurance company will be
placed in buyer’s bank account. Should the seller fail to deliver the
cargo, this PB will be paid to the buyer and intermediaries accordingly,
as compensation.
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Seller’s bank issues non-operative PB to the
Buyer’s bank.
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Buyer’s bank opens Letter of Credit.
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Shipment commences according to contract.
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