JP 54 CI DIP AND PAY/CONTRACT
FOB PRIMORSK PORT
(Transshipment through UST-LUGA PORT Terminal)
PRICE: 74 gross 73 net PER BARRELS
LIFTABLE: 1,000,000 BARRELS
CONTRACT: 2,000,000 BARRELS X 12 MONTHS
1. Buyer issues ICPO
2. Seller issues C.I. and Pipe Line Storage Reservoir Receipt of product and NOR (NOTICE OF READINESS) from the Pipeline Injection / Transportation Company to Commence the Injection of the Product into Buyer Leased Ex-Shore Tank at Loading Port.
3. Buyer Sign C.I. and Return Back to Seller.
4. Within 24-48 hours Maximum, After Buyer Provide to Seller its Leased Ex-Shore Tank Storage Agreement and Tank Receipt plus Tank clearance prior to Tank Injection, Seller Commence the Injection of the Product into the Buyer Leased Ex-Shore Tanks and Upon Completion of the Injection of the product, Seller Provide to Buyer the below listed Proof of Product Document;
A. SGS or SAYBOLT or INTERTEK or Similar Laboratory Analysis Report of the Quality of product (Taken from the Auto Sampler during the Time of Injection of the Product into the Storage Tanks.)
B. PIPELINE INJECTION REPORT
C. Certificate of Conformity of the product.
D. DTA (Dip Test Authorization)
5. Upon Buyer Receipt of the above Proof of Product Document and Confirmation of the Quality & Quantity of the product, Buyer Make Payment for the Total Value of the product injected into the Buyer Leased Ex-Shore Tank via MT103-T/T and Simultaneously Seller Issue to Buyer the Certificate of Ownership of the Product and all Exportation Document of the product.
6. Buyer Lift the product and Buyer Pays all intermediary Involved in the Transaction.
7. Each Monthly Shipment [2,000,000 BBLS] Takes Place as per the Above Terms and Condition of the Transaction Procedure