Taurus Shipping Limited brings to the attention of all interested structures the mechanism of payment for works (services) using the crypto token RHT (Ragnit Holding Token) as a means of payment.
This mechanism is used to pay for the supply of petroleum products (diesel, etc.), pay for freight, issue financial guarantees, etc.
As an example, below is a step-by-step mechanism for paying for a 10,000 MT shipload of diesel fuel:
1. The Customer sends an request (LOI) to Taurus Shipping Limited on company letterhead for the purchase of 10,000 MT of diesel fuel and agreement to work on SCO (Soft corporate offer) terms. In LOI, the Customer indicates his crypto wallet. How to open a crypto wallet is shown on the Taurus Shipping Limited website in the FOR RHT BUYERS section. SCO is posted on the website of Taurus Shipping Limited in the section FOR CUSTOMERS.
2. Taurus Shipping Limited sends to the Customer the preliminary cost of the ship's lot of diesel fuel in the amount of 10,000 MT. The final cost of the batch is determined upon loading the diesel fuel onto the tanker at the port of shipment.
3. Taurus Shipping Limited and the Customer sign a Partnership Agreement, which allows the Customer to buy RHT without being specified in the payment documents, in the purpose of payment - the purchase of crypto currencies. The same procedure allows the Customer to avoid paying a commission to the crypto exchange and the cost of currency conversion.
4. Taurus Shipping Limited is the first to transfer the technical tranche to the Customer's crypto wallet. After the technical tranche is credited to the Customer's crypto wallet, the client transfers the equivalent amount to the account of Taurus Shipping Limited. In the purpose of the payment, the Customer indicates - replenishment of working capital, in accordance with the Partnership Agreement. After that, Taurus Shipping Limited transfers to the crypto wallet the entire amount of RHT required to pay for the ship's batch of diesel fuel. For convenience, this amount can be divided into tranches. The RHT payment mechanism is the same as the technical tranche. First, Taurus Shipping Limited transfers RHT and only after that, the Customer makes the payment.
5. After the transfer of the entire amount of RHT to the Customer's crypto wallet, the ship's batch (10,000MT) of diesel fuel is delivered to the port of shipment. A notice is sent to the Customer indicating the date of loading onto the tanker and the need to deliver the tanker for loading within the specified time. At the request of the Customer, Taurus Shipping Limited can deliver the tanker and transport the ship's batch of diesel fuel to the port of destination (unloading). Tanker freight and carriage is paid to RHT.
6. The Customer pays for the ship's batch of diesel fuel upon loading onto the tanker. FOB terms according to INCOTERMS (last edition). Payment is made by RHT transfer from the Customer's crypto wallet to the crypto wallet of Taurus Shipping Limited. With this payment, there are no commissions for the crypto exchange and for currency conversion.
This is an example of the delivery of a marine batch of diesel fuel. The same mechanism is applied when paying for any other deliveries of petroleum products, paying for freight, issuing financial guarantees, etc.
Taurus Shipping Limited does not rule out 100% advance payment options. But taking into account the difficult situation in the global financial markets and in the banking sector, Taurus Shipping Limited recommends to its Customers the payment mechanism in RHT and Partnership Agreement.