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1JN2T Energy Procedure Rationale?
SUMMARY PROCEDURES

    a) You send to us the end buyer’s LOI (Letter of Intent) or ICPO (Irrevocable Corporate Purchase Order), this document should be on buyer’s letterhead and should be signed and sealed by the buyer and include buyer’s banking details to allow us check buyer’s financial capability. In addition, we may require the buyer’s BCL (Bank Capability or Comfort Letter).

    b) On receipt of the LOI / ICPO and BCL, JN2T Energy will send to the buyer a Pro Forma Invoice, sales/purchase contract and/or FCO (Full Corporate Offer)

    c) Once the buyer and JN2T Energy have agreed and signed on the pro forma invoice, FCO and / or contract, the deal is executed in compliance with the terms of the agreement.

2What happens when brokers are involved?
Where brokers are involved, NCND (Non-Circumvention and Non- Disclosure) and FPA (Free Protection Agreement) will be required and signed by parties involved before steps a, b, c above.
3Acceptable mode of payment?
Method of payment is generally Fully Funded Documentary L/C payable at sight (FFDLC), Revolving Documentary L/C (RDLC), Stand-by L/C (SBLC), Bank Guarantee (BG), Escrow Account or wire transfer after inspection (100% or x% deposit and y% balance after inspection). To a great extent prices are determined by your method of payment. This is why you should always specify your method of payment in the LOI and, whenever possible, provide the text of your proposed payment instrument. The L/C must be issued or confirmed by a prime International Bank acceptable by us.
4Is LOI necessary?
Buyer’s LOI is also generally required by us to provide soft price quotes. In some cases, we may require the LOI and BCL before we provide a soft quote.
5What are your delivery terms?
JN2T Energy delivers on FOB and CIF basis.

Keeping Ahead of COVID-19

This rapidly evolving coronavirus (COVID-19) has imposed an unsettling, fluid situation upon our community and its businesses. While the team here at JN2T Energy still aims to maintain a "business as usual" approach, we are making a number of significant changes to our operations to account for a situation that is far from normal.