We the undersigned (Company name) represented by (Name, Designation), hereby state and represent that it is our corporate intention to purchase the commodity / product D2 GAS OIL L – 0,2 – 62 (DIESEL FUEL D2); GOST 305 / 82, in the quantity and for the price as specified in the terms and conditions as stated below. This representation is made with full corporate authority and also responsibility of the above stated buyer
NOMINATED PROCEDURE STEPS
1. The Seller and the Buyer sign the Contract.
2. Within 24 Hours of the signing of the Contract, Buyer will issue RWA or BCL with the face value of USD 1,000,000,000.00 (One Billion U.S. Dollars).
3. After reception RWA or BCL from Buyer’s bank, Seller sends to the Buyer electronic copy of the Proof of Product (POP).
4. Within 48 hours after verification the Proof of Product (POP), Buyer’s bank will issue ACCOUNT STATEMENT with RESERVE FUNDS via SWIFT MT760 of agreed format with face value of USD 1,000,000,000.00 (One billion U.S. Dollars).
5. Within 24 hours after verification SWIFT MT760, Seller sends POP.
6. Delivery and shipment shall commence after the fulfilment of the procedure, stated above, as per the terms and conditions of this contract.
Each tanker lot of the Goods shall be accompanied with the following documents:
• Original Commercial Invoice signed by the Beneficiary/Seller plus three (3) copies.
• 3/3 original clean on board Bills of Lading properly issued and endorsed to the order of the Buyer.
• Certificate of Origin for the goods, the original plus one (1) copy.
• Certificate of Quantity issued by a mutually agreed Independent Inspector beforehand; the original plus one (1) copy.
• Certificate of Quality issued by a mutually agreed Independent Inspector beforehand; the original plus one (1) copy.
• Time Sheet issued at the port of loading and signed by Master of the Vessel and countersigned by the cargo transmittal agent and the Independent Inspector; the original plus one (1) copy.
• Master’s receipt for all shipping documents; one original plus one (1) copy.
7. After reception of each tranche of Goods, and execution of all necessary measures, expertizes and inspections of each tranche of Goods, certifying Goods quality & quantity, according to the conditions of the present Contract, Seller send to the Buyer commercial invoice on payment for the tranche of the Goods.
8. Buyer executes payment for the received tranche of Goods by transferring of appropriate sum on the Seller’s banking account via unconditional SWIFT MT 103 wire transfer within the 3 (three) banking days from the moment of reception of aforesaid commercial invoice.
PRICE OF THE GOODS
1. Price of the Goods sold under this Contract is calculated in US dollars and is based on CIF Rotterdam.
2. Based on Delivery Date the purchase price shall be calculated and equal to the average price of averages published in PLATT’S EUROPEAN MARKETSCAN under the heading: CIF NWE/Basis ARA minus discount of 20% (Twenty percent) Gross / 16% (Sixteen percent) Net for one Metric Ton for the 1,000,000 MT (One Million Metric Tons) monthly deliveries x 12 months.
We agree with the above PROCEDURE.
We agree with the price CIF NWE/Basis ARA minus discount of 20% (Twenty percent) for one Metric Ton.
We agree with the commission of 4% and the distribution of the commission received by us before.
We have agreed to purchase product D2 GAS OIL L — 0,2 — 62 (DIESEL FUEL D2); GOST 305/82 in the amount of 1,000,000 MT (One Million Metric Tons) monthly deliveries x 12 months.
( SIGNATURE AND SEAL)