• OPEC raised their global consumption expectations for 2010, and raised their output productions by 190,000 barrels to 28.94mn bpd.Shell have confirmed that they have ceased selling gasoline to Iran BP have agreed to buy Devon Energy Corp in a $7bn deal The rate of unemployment rose to 5.3% in Australia, missing estimates.  Analysts had expected 15,000 jobs to be created, but it came it at 400  Japans revised Q4 GDP showed that their economy expanded by 0.9% as opposed to the reported 1.1%

EU Ministers are scheduled to meet on March 16th to discuss the Greek debt issue

We have established a complete process over the years. And this process is designed to smooth the purchase and delivery of product and minimized possible delay. Therefore we insist on utilizing this process.
 

OTHER PROCEDURE CAN BE NEGOTIATED THIS DEPEND ON WHAT TYPE OF PRODUCT WE ARE ENGAGING IN AND THE DESTINATION PORT PLEASE CONTACT US FOR DETAILS.

1. BUYER PROVIDES LOI ON THEIR LETTERHEAD TOGETHER WITH FULL BANKING COORDINATES AND AGREES WITH THE RWA'S VERBIAGE
2. BUYER RECEIVES FCO/CONTRACT FROM SELLER
3.BUYER’S BANK SEND MT799/RWA/BCL TO SELLER’S BANK  FOR POF)
4.SELLER PROVIDES SOFT/POP
5.BUYER’S BANK ISSUE NON OPERATIVE RDLC
6.SELLER’S BANK RESPOND WITH 2%PB WHICH RENDER BUYER RDLC OPERATIONAL SELLER PROVIDE THE FULL POP AND OTHER RELEVANT DOCUMENTS TO SELLER                                   

7. WITHIN 24 HOURS OF SUCCESSFUL CONFIRMATION OF THE FULL POP DOCUMENTS, BUYER’S BANK RELEASES THE FUNDS AGAINST TITLE OF OWNERSHIP. PAYMENT SHALL BE UNBLOCKED, AND PAYMENT SHALL BE MADE TO SELLER’S DESIGNATED BANK ACCOUNT BY SWIFT WIRE TRANSFER.