Commodity: Diesel D2 Oil Gost 305-82
Country of Origin: Russia Federation
Trial Quantity: 50,000 Metric Tons
Contract Duration: 1, Year (Monthly delivery is 100,000 Metric Tons)
Product Price: Platt NWE Minus Gross $55.00 USD/ Net $45.00 USD Per MT
Specification: Standard Specification
Delivery: CIF (China Commercial Port)
Performance Bond: 2% operative PB will be issued from Seller’s bank to the buyer’s bank.
Inspection: SGS at Loading Port / CIQ Or Similar at (Unloading Port at Buyer Selection).
Commission: $10.00 per MT (Buyer side ($5 USD) /Seller side ($5 USD)
Terms of Payment: DLC, SBLC/MT760, BG 100% payable at discharge port by MT103 + for Term Cargoes
CIF Transaction Procedure
1. Buyer Issues ICPO or LOI.
2. Seller Issues MOU Sales and Purchase Agreement for Both parties Final Endorsement.
3. Seller issues to Buyer:
STATEMENT OF AVAILABILITY OF PRODUCT,
COMMITMENT TO SUPPLY,
CERTIFICATE OF ORIGIN,
EXPORT LICENSE of the Product
4. Buyer and Seller Finalize the Logistics for the Delivery of the Petroleum Product to the Buyer Port of Destination / Discharge Port. (This means buyer and seller will have to pay the logistic Delivering cost to the shipping company and this will be split 50%/50% each side will bear for the Cost of the logistic).
5. Upon Finalization of the Logistics for the Delivery of the Petroleum Product to the Buyer Port of Destination/Discharge Port, Seller Commences Loading of the Petroleum Product into the Vessel Tanker (Ship) and Provides to Buyer the Following Proof of Product Documents and Shipment Documents:
Bill of Lading.
Vessel Detail’s (Q88).
Dip Test Report for Quality and Quantity of the product by SGS or SAYBOLT or INTERTEK or Similar Laboratory.
Certificate of Conformity of the product.
6. Upon Buyer Receipt of the Above Proof of Product Document and Shipment Document, Buyer issues DLC MT700 or SBLC MT760 to guarantee payment for the product and Seller Issue 2%P.B.
7. Shipment commences and Buyer releases Payment via MT103 — T/T for the Total Cost of the Product after CIQ at Buyer Discharge port and Seller through the Ship Captain hand over all Exportation Document and Certificate of Ownership to Buyer.
NOTE: Seller pays Commissions to all involved mandates and intermediaries by T/T Wire Transfer as mutually (NCNDA) agreed