SENDING US A LOI OR ICPO - INSTRUCTION
ALL LOIs and ICPOs HAVE TO HAVE THE FOLLOWING
1) COMPLETE CONTACT INFORMATION, no exception. Without the contact information we are unable to process our required documentation to the refinery.
a). Name of company buying product.
b). Full address of company.
c). Phone number of company.
d). Correct email address of company, NOT MANDATE, HE HAS NO AUTHORITY.
e). Description of product to include;
i) What is the volume of the first lift and the full contract ie., length of time.
ii) What is your target price, (this does not mean you will get it)
iii) Will it be FOB, (Freight on Board) or CIF, (Cost, Insurance, Freight)?
iv) ICPO has to be signed with seal and a scanned copy of passport, LOI does not.
v) LOI just needs to be signed and sealed.
vi) Make sure your LOI and or ICPO has this language in the beginning;
We, ATLANTIC PETROLEUM COMPANY of Anchor Point, Alaska, hereby declare that we are ready, willing and able to purchase the following commodity as specified below and certify that we have available full funding for the purchase:
vii) You can put your requested procedures on either of these documents but we have to use the refinery's procedures, there is no options on this and please do not ask us to
ask the refinery to change them because it just makes them angry with us.
vii) Any company wishing to have their Attorney, Mandate or Representative handling the purchase needs to issue a Mandate Certificate with the parties name and a copy of their passport, if they do not have identification and signed by company owner then both signatures have to be notarized and the company Owner still is required to paste a copy of his/hers passport onto the ICPO
viii) VERY IMPORTANT, due to the privacy laws here in the US which we are governed by we cannot discuss any of the company's business with anyone without written permission from the company's owner.
x) Commissions; if you have a legal right to commissions for a particular sale you have to obtain a "Commission Information Sheet", (CIS) from us and fill it out. Most intermediaries leave off information. Be mindful if you do not completely fill it out it will be sent back to you once and if it comes back again not completely filled out it will just be deleted and there will be no commission.
xi) Final note;, Not everyone who thinks they are going to ride the full commission contract is entitled to the free ride, there are those that will only receive a one time Introduction Fee and as the Seller we are the ones that make these decisions so if you are not happy go talk to the Buyer.
ICPO ADDITIONAL REQUIREMENTS
In addition to the above requirements needed for the LOI and the ICPO there are further items required for the ICPO and they are as follows;
2) The signature page requires a copy of the Buyer's passport for identification.
3) If you require a very specific Specification the complete Specifications needs to be part of the ICPO.
4) Full bank information, some people like to leave out one or two small items I will send it back causing the Buyer to lose valuable time when needing the fuel because he is close to be out.
5) Any other instruction that may be needed or questions you may need answered.