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LIQUEFIELD PETROLEUM GAS (LPG) CIF ONLY

SOFT CORPORATE OFFER (SCO) LPG

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 PETROLEUM GAS (PROPANE (C3H8) 50%+ BUTANE (C4H10) – LPG
Loading Port: Rotterdam or Seller Option
Incoterms: CIF ASWP Only
Packing: Bulk Tanker / Seller’s Option
Minimum Order: 30,000 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
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
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
Buyer returns the reviewed Draft SPA to GNGROUP SUPPLIES SDN BHD via email.

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
Product and all shipping documents transferred to Buyer. Title passes to Buyer.

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
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.






































Feel free to contact us for any further clarifications and assistance, we look forward to receiving your LOI/ICPO to begin cooperation.