Seller pays ELS’s performance fee
ELS and Buyer assess and compare responses
Sends formal invitation to bid to Approved Target Sellers
pay for the first month retainer payment
Sign the Procurement Agreement
Pass KYC?
Receive indicative price range from a few Sellers
Suggests amendments if required
No
Communicate a single indicative price range that captures the small sample size
Reviews Master Sales Agreement and prepares risk matrix for each
Receives responses to Invitations to Bid
Decide on target sellers
Receive requirements table from ELS for internal review
ELS will not represent the Seller
Assists Buyer to negotiate terms (price and non price) with Sellers
ELS
Send ELS LNG Procurement Agreement (retainer and success fee)
Execute CA between ELS and all potential Sellers
Receive KYC pack from Approved Target Sellers
ELS Spot LNG Procurement
Submit Buyer’s KYC pack to Approved Target Sellers
Executes Master Sales Agreement of each Approved Target Seller
Send all required Document for KYC process to ELS
SELLER
Yes
Receive Master Sales Agreement from Approved Target Sellers
Internally assess KYC documents
Sellers formally accepts Buyer
Get in-principle agreement on available supply
Execute CA between ELS and Buyer
Buyer and Seller execute Confirmation Notice for supply of LNG
Provide short list of Sellers matching Buyer requirements
BUYER
