SOFT CORPORATE OFFER (SCO) LNG
Gngroup Supplies Sdn. Bhd. in collaboration with our refinery, manufactory, factory, supplier or seller, with full legal responsibility, hereby issue this Soft corporate Offer with given terms and conditions as stated in this offer to confirm our readiness to execute a sales and purchase agreement with the ability to supply the following commodity according to the terms and conditions stipulated in this soft corporate offer.
Commodity: LIQUEFIELD NATURAL GAS 5542-87 (LNG)
Loading Port: Rotterdam or Seller Option
Incoterms: CIF ASWP Only
Packing: Bulk Tanker / Seller’s Option
Minimum Order: 50,000 MT
Maximum Order: 500,000 MT
Commission: USD$ 10.00 Per MT
Shipment Guaranteed: 2% PB (Performance Bond)
Cargo Insurance: 110% by seller
INSPECTION:
For CIF
a) Inspection at loading port (seller port) by SGS for quality, quantity, fully at seller’s expense.
b) Final inspection at port of discharge (buyer port) by SGS for quality, quantity, fully at buyer’s expense.
BUYER’S COMMITMENT:
a) CIS (Customer Sheet Information)
b) ICPO + Scan Passport + Company Profile + BCL or POF
{BANKING PROCEDURES FOR CIF AWSP}
GUARANTEE PAYMENT IS REQUIRED FROM BUYERS:
MODE OF PAYMENMTS: SWIFT MT760 VIA SBLC FOR CIF
Step 1 – Seller to Buyer
GNGROUP SUPPLIES SDN BHD provides to the Buyer:
a) Full/Soft Corporate Offer (FCO/SCO)
b) ICPO Template Format
c) BCL/CIS Template Format
Step 2 – Buyer to Seller
a) Full/Soft Corporate Offer (FCO/SCO)
b) ICPO Template Format
c) BCL/CIS Template Format
Step 2 – Buyer to Seller
Buyer provides to GNGROUP SUPPLIES SDN BHD:
a) Official ICPO, addressed to:
To: GNGROUP SUPPLIES SDN BHD
Attn: TBA IN OFFICIAL SCO/FCO
b) Copy of Buyer’s Passport (scanned)
c) Buyer’s Company Profile (PDF)
d) CIS Applicant SBLC
Step 3 – Seller to Buyer
a) Official ICPO, addressed to:
To: GNGROUP SUPPLIES SDN BHD
Attn: TBA IN OFFICIAL SCO/FCO
b) Copy of Buyer’s Passport (scanned)
c) Buyer’s Company Profile (PDF)
d) CIS Applicant SBLC
Step 3 – Seller to Buyer
GNGROUP provides to the Buyer:
a) Draft Sales and Purchase Agreement (SPA) for review, completion, or correction.
b) CIS Fiduciary Receiver SBLC / Beneficiary details.
Step 4 – Buyer to Seller
a) Draft Sales and Purchase Agreement (SPA) for review, completion, or correction.
b) CIS Fiduciary Receiver SBLC / Beneficiary details.
Step 4 – Buyer to Seller
Buyer returns the reviewed Draft SPA to GNGROUP SUPPLIES SDN BHD via email.
Step 5 – Seller to Buyer
Step 5 – Seller to Buyer
GNGROUP SUPPLIES SDN BHD issues a Proforma Invoice.
Step 6 – Bank-to-Bank Process
1. Buyer applies for Draft SWIFT MT760 SBLC from the issuing bank.
2. Issuing bank issues Draft SWIFT MT760 SBLC → Buyer forwards to GNGROUP.
3. GNGROUP forwards Draft to Fiduciary/Beneficiary → then to Receiving Bank.
4. Receiving Bank reviews Draft (may request correction/amendment or approve).
5. If approved → GNGROUP instructs Buyer to proceed with Final SWIFT MT760 SBLC.
6. Buyer sends copy of Final SWIFT MT760 SBLC to GNGROUP (review/approval).
7. GNGROUP forwards Final copy to Fiduciary/Beneficiary for follow-up with Receiving Bank.
8. The Receiving Bank conducts compliance and internal approval procedures (including AML/KYC checks). Once cleared, the Receiving Bank will request the Issuing Bank to send the Hard Copy SBLC via secure courier.
9. Once Receiving Bank confirms receipt of Hard Copy → Final SWIFT MT760 SBLC is activated in SWIFT system.
💡 Note:
Many buyers assume that once an SBLC is issued, POP and PB must be released immediately. In reality, the SBLC must first be: Verified by the receiving bank,
Cleared under Central Bank regulations (AML/KYC),
Activated in the SWIFT system only after the Hard Copy is received.
Only then can the seller proceed with PB/POP issuance.
Step 7 – Seller to Buyer
The Seller issues Full POP and Shipping Documents, 2% PB (PERFORMANCE BOND) Including:
a) Copy of Commercial Invoice.
b) Copy of Approval to License certificate.
c) Copy of Statement of Availability of the Product.
d) Copy of the Refinery Commitment to Produce the Product.
e) Copy of the Transnet Contract to Transport the Product to the Port.
f) Copy of the Port Storage Agreement.
g) Copy of the Charter Party Agreement(S) To Transport the Product to Discharge Port.
h) Dip test Authorization, Tank receipt and SGS report.
i) Copy of Vessel Questionnaire 88
j) Copy of Bill of Lading.
k) Certificate of Origin.
l) Allocation Transaction Passport Code Certificate [ATPCC]
m) The customs formalities and the test report to the Buyer/Bank.
💡 Note:
POP is only issued once the SBLC has been fully activated in the SWIFT system. This ensures that the seller’s risk is covered.
Step 8 – Shipment
Seller loads the vessel and inspects cargo onboard.
Delivery at agreed safe port → Buyer conducts inspection.
Upon SGS clearance & receipt of all payment documents → Buyer pays 100% within 2 banking days.
💡 Note:
Payment is not triggered by POP alone, but by successful SGS inspection and full compliance of shipping documents.
Step 9 – Transfer of Title
Delivery at agreed safe port → Buyer conducts inspection.
Upon SGS clearance & receipt of all payment documents → Buyer pays 100% within 2 banking days.
💡 Note:
Payment is not triggered by POP alone, but by successful SGS inspection and full compliance of shipping documents.
Step 9 – Transfer of Title
Product and all shipping documents transferred to Buyer. Title passes to Buyer.
Step 10 – Commission Payment
Step 10 – Commission Payment
Seller pays commission as follows:
A) 50% Seller’s Side (Closed)
B) 50% Buyer’s Side (Open – Buyer Mandate & Intermediaries)
Commission terms covered by an IMFPA signed prior to SPA issuance.
💡 Note:
IMFPA is necessary to protect all intermediaries and avoid disputes once commission is due.
Step 11 – Subsequent Shipments
A) 50% Seller’s Side (Closed)
B) 50% Buyer’s Side (Open – Buyer Mandate & Intermediaries)
Commission terms covered by an IMFPA signed prior to SPA issuance.
💡 Note:
IMFPA is necessary to protect all intermediaries and avoid disputes once commission is due.
Step 11 – Subsequent Shipments
Buyer’s Bank issues SBLC/BG valid for 1 Year 1 days.
GNGROUP provides 2% PB covering one month’s shipment (valid until final shipment).
Seller continues deliveries as per contract schedule with DTA/ATV/Fresh SGS until 12-month cycle completes.
💡 Note:
It should be clarified whether the SBLC is Revolving or Extendable. This avoids misinterpretation between Buyer and Seller.
GNGROUP provides 2% PB covering one month’s shipment (valid until final shipment).
Seller continues deliveries as per contract schedule with DTA/ATV/Fresh SGS until 12-month cycle completes.
💡 Note:
It should be clarified whether the SBLC is Revolving or Extendable. This avoids misinterpretation between Buyer and Seller.
ABOUT LIQUEFIELD NATURAL GAS (LNG)
WHAT IS LNG:
LNG is Liquefied Natural Gas, methane (CH4). It is produced by cooling the usual commercial gas to the condensation temperature (-161.5 ° C), as a result of which it turns into a liquid. The volume of gas is reduced by a factor of 600 without the use of compression, only due to exposure to low temperatures, while at the same time purifying impurities, which makes it even cleaner and more efficient as a fuel for all types of applications.
LNG is produced in so-called liquefaction plants (plants). After that, in special cryogenic tanks capable of maintaining a low temperature inside the vessel for a long time (up to 70 days), it is transported to a storage station (for long-term storage) or to a local or system liquefied natural gas regasification station, where it turns into the usual commercial gas before being delivered to the consumer.
Liquefied natural gas, therefore, is not a separate type of fuel. Rather, it is a type of aggregate state of all the usual natural gas, the technology of its storage and transportation, which makes it possible to implement the so-called pipeless gasification, which has undeniable advantages over other types of fuel for both suppliers and consumers.
WHAT IS THE DIFFERENCE BETWEEN LNG AND LPG?
LNG – liquefied natural gas methane CH4, which is in a liquid state at a very low temperature of -161.5 ° C without compression. When released into a normal atmosphere, it quickly returns to its usual gaseous state, increasing in volume by 600 times and releasing cold. High density and low volume make it possible to profitably store and transport LNG over long distances in cryotanks, as well as use it as a fuel for high-power engines of continuous operation or long-distance logistics.
LPG – liquefied petroleum gas (C3N8With4N10 – propane-butane mixtures, SPBT), are a product of associated petroleum gas with a boiling point from 0 to -40 ° C, depending on the composition of the mixture, which makes it vulnerable to low winter temperatures. SPBT is stored in gas tanks or special containers under pressure up to 1.6 MPa and is widely used as fuel for transport and very rarely for individual farms (due to expensive infrastructure). LPG is heavier than air, spreads on the ground and is a highly flammable and explosive substance. It is ahead of diesel fuel and fuel oil, but inferior to natural gas in terms of efficiency and environmental friendliness as a fuel for boiler houses and transport.
Feel free to contact us for any further clarifications and assistance, we look forward to receiving your LOI/ICPO to begin cooperation.
.
‼️WhatsApp:
(Mr. Saif)
http://www.wasap.my/60105375779/OilPetroleum
.
(Ms. Nur)
http://www.wasap.my/601129291396/OilPetroleum
.
(Ms. Far)
http://www.wasap.my/601155025779/OilPetroleum.
.
‼️WhatsApp:
(Mr. Saif)
http://www.wasap.my/60105375779/OilPetroleum
.
(Ms. Nur)
http://www.wasap.my/601129291396/OilPetroleum
.
(Ms. Far)
http://www.wasap.my/601155025779/OilPetroleum.