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Petroleum Products


[Azerbaijan]
Posted Date: April 07, 2009    Expiry Date: June 07, 2009
Free Member
   
Description
Commodity: Jet Fuels JP54
Description: Colonial Grade 54 Aviation Kerosene
Origin: Russia or seller choice
Quantity for SPOT: Up to 200, 000, 000 Metric Tons (+/-5%)
Quantity for Contract: Up to 200, 000, 000.00 Metric Ton per month (+/-5%)
Destination: FOB ROTTERDAM
Target Price: 36$ U.S. Gross / 30$ U.S. Net

Commodity: D2 Gas oil
Description: D2 Gas oil L-02-62 GOST 305-82
Origin: Russia or seller choice
Quantity for SPOT: Up to 40, 000, 000 Metric Tons (+/-5%)
Quantity for Contract: 5, 000, 000.00 Metric Ton per month (+/-5%)
Destination: FOB ROTTERDAM
Price #1: 370$ U.S. Gross / 350$ U.S. Net
Price #2: Discount from PLATT 40/30


Procedure (SPOT):

1. Seller issues FCO or SCO addressed to the buyer.
2. Buyer sign and seal FCO or SCO and send to seller with ICPO included full banking details,
3. Seller issue the contract
4. Buyer and seller sign contract and lodge with respective bank
5. Seller send the POP with all necessary documents to buyers bank and issue bank guarantee that after getting buyers MT103, the ownership of the product will be transferred to the buyer.
6. Buyer issue MT103/23 from a prime world bank against transfer of title.
7. The transaction is consummated as per contract.



Procedure (for CONTRACT):

1. Seller issues FCO or SCO addressed to the buyer.
2. Buyer sign and seal FCO or SCO and send to seller with ICPO included full banking details
3. Seller issues Draft Contract.
4. Contract signed and returned to seller. Seller countersigns and seals the contact.
5. Seller issues Partial POP
6. Buyer banks confirm partial POP in buyers country
7. Buyer issues 6 hard copies of the contract and sends via courier to seller
8. Sellers bank will issue full POP and 2% performance bond within 3 days
9. The 2% PB will placed in the buy
10. In acceptance of POP and the PB, buyers bank issue remaining non transferable, revolving, Letter of Credit (DLC), for each cargo shipment of monthly delivery
11. SGS inspection charge will be borne by the seller.
12. Shipment commence as per contract.


Procedure (Bank to Bank):

1. The Sellers Bank not later than 2 (two) international banking days from the date of the presentation of The Agreement, will provide via SWIFT to the Buyer's Bank the confirmation of possessing of Proof of Product (POP) issued to the name of the Seller and readiness to issue 2% Performance Bond (PB) Guarantee.
2. Within 3 (Three) banking days from receipt of the Sellers SWIFT the Buyer's bank provides a SWIFT to the Sellers Bank, confirming Buyers readiness to issue Irrevocable, Documentary, Non-Transferable, Replenish Letter of Credit (D/LC) after receiving Sellers Non-operative 2% Performance Bond (PB) and Proof of Product (POP).
3. The Sellers bank not later than 2 (two) international banking days after acceptance of Sellers Proof of Product (POP) against the Buyers Bank RWA issues to the Buyers name non-operative 2% Performance Bond and provides Buyer (Buyers bank) with POP
4. Buyers bank not later than 2 (two) international banking days after receipt of the 2 % non-operative PB and verification of the POP will issue a Irrevocable, Documentary, Non-Transferable, Revolving Letter of Credit (D/LC) to Sellers bank in favor of the Seller which will activate the PB.
5. The Seller informs the Buyer about the readiness for Shipment of monthly consignment.
6. The Seller and the Buyer agree the shipment schedule for the month immediately ahead.
7. The Seller undertakes shipment in accordance with the Contract terms.
8. All banking charges including confirmation from the Buyers bank shall be borne by the buyer and all banking charges incurred by the Seller at Sellers bank shall be borne by Seller.
 
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Related Categories: Crude Oil, Fuel Oil »
Related Product: jp54, d2 »
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