Description

The pricing is as such, Platt plus
$.*6 cents per gallon for FOB Ahead of Kinder Morgan/Plantation pipe
$. *2 cents per gallon any where along the Kinder Morgan pipe
$ . *7 cents per gallon to ship product via tanker
If the buyer banks at Bank of America it would be a 3 day prepay( meaning they pay 3 business days prior to injection /loading)-in this case the payment would be ledger to ledger since one of our accounts is at BofA. In the event the buyer uses a bank other BofA the prepayment would be 5 business days. The payment schedule would be the same each month until the contract is complete.

Basic procedures
Buyer engages us with a written request to buy. The buyer should attach their IRS **7 excise tax collection number that matches their company name. The buyer should include their desired location and logistics. If the product is being exported from the Continental US  the buyer should include copies of any export licenses. If the product is JA1  in Europe the buyer should include copies of their VAT number and the like.
Buyer should arrange whatever type of financial proof/industry past participation and references. A conference call with the banker would be a good start to give us confidence that they in fact have the ability to perform 
We would engage in a contract with the buyer
We would then submit a request for production to Exxon.
Once we receive the "offer to produce" from Exxon along with logistic schedule, we would attach that production offer to the contract and copies would then be submitted to the respective banks.
Production would commence, and the logistic schedule would dictate the payment cycle
Depending on the buyer and their references, the buyer may be required to post their advance payment in an interest bearing escrow or an SBLC  to secure the first months delivery before production. This would be based on what level  of trust/ credit worthiness we have with the potential buyer. After the relationship is established this security may be waived based on performance.