Step 2: LOI
Buyer issues LOI on company letterhead to SM.
Step 3: Video Calls
Step 6: NCNDA/IMFPA
Step 7: Refinery Procedure
Step 8: Title Transfer
Step 9: Commissions Paid
Step 1: NCNDA & Buyer Check
Signing of a Non-Circumvention, Non-Disclosure Agreement with an associate followed by a background check on the buyer.
Step 2: Buyer Issues LOI
The buyer issues a Letter of Intent (LOI) directly to our company.
Step 3: Conference Call
A video conference call is held between the buyer and the FUELTAP team.
Step 4: Full Corporate Offer (FCO)
We issue a Full Corporate Offer (FCO) which is then confirmed by the buyer.
Step 5: Buyer Issues ICPO
The buyer issues an Irrevocable Corporate Purchase Order (ICPO).
Step 6: Commercial Invoice (CI)
The refinery issues a Commercial Invoice (CI) with the final terms and details.
Step 7: NCNDA/IMFPA Signed
The Non-Circumvention, Non-Disclosure Agreement / Irrevocable Master Fee Protection Agreement is signed by all parties.
Step 8: Product & Title Transfer
Payment is made through MT103 and the title is transferred to the buyer's name.
Step 9: Commission Payment
Commissions are paid to all intermediaries as per the signed agreement.