Be aware of those who ask you to pay something upfront “to get a good discount”. We never ask you to pay anything upfront.

First Step.

If buyer is a well known company, first step can be skipped and only a request on official paper with signature of the person allowing to sign on behalf of company should be provided.

1. Buyer sends following documents to Carat 7, Inc :
- ICPO (Irrevocable Confirmed Purchase Order) addressed to Carat 7, Inc.
-  Bank reference letter (not BCL) on bank (Reference  is  prepared on a bank’s letterhead).  The  reference  shall   reflect financial  state  (solvency  status)  of  buyer  indicating  availability  or sources of payment of the principal contract: at their own expense (sufficient for payment of not less than a volume of three months’ supply) or with bank’s financing.
-  Copies of the license, giving  the buyer  right  to work and trade of commodities in the territory of the country in which it comes.

2. Carat 7, Inc issue Full Corporate Offer (FCO).

3. Buyer should sign/seal FCO and send it back. Then Buyer sends Bank Comfort Letter (BCL) confirmation by SWIFT via MT-799 to Seller’s Bank referring to issued ICPO.

4. Seller’s Bank sends SWIFT message to Buyer’s Bank of Seller being ready, willing and able to issue Proof of Product (POP) from Russian Supplier within (6) Banking days and to provide Performance Bond (PB) after receiving BCL by SWIFT from Buyer’s Bank.

5. Seller issues electronic version of the Contract for the Buyer’s agreement.

6. The Seller/Buyer issues the copy of the Contract with their Banks.

7. Seller’s Bank confirms via SWIFT the POP documents:

8. The Proof of Product consists of the following:
- Copy of License to export issued by the Russian Ministry of Energy.
- Copy of Approval to export issued by the Russian Ministry of Justice.
- Copy of Statement of Availability of the Product.
- Copy of the refinery commitment to produce the product.
- Copy of the Charter Party Agreement(s) to transport the product to discharge ports.
- Copy of the Banking Passport of the Bargain
- Copy of the Contact with AK “Transneft” to transport the product to the port.

9. The Buyer’s Bank issues non-operative financial instrument to the Seller’s Bank.

10. Seller’s Bank issues the 1,5-2% Performance Bond (subject to financial instrument of the Buyer) which shall automatically operate the financial instrument.

11. The first delivery is performed according to the agreed delivery schedule. Both, the Seller and the Buyer agreed upon the delivery schedule for subsequent month shipments.

12. Within 35 days the Seller makes the first delivery under the present Contract terms and conditions.