Subject: JP54 «Rolling Spot Contract»
Subject: 2nd Refinery Supplier
Price: USD $5.00 Gross / USD $3.00 Net, LESS NWE Platts Base Pricing Index (3)
Commission: $2.00 per bbl ($1,0 Seller side closed / $1,0 Buyer side open)
Subject: Discharge by Tank Storage («TSA’TSR») / and/or Buyers nominated &
approved Vessel by Q88 / CPA
PROCEDURES OF BUSINESS:-
Terms and Conditions of Delivery and Payment:-
1. BUYER ISSUES ICPO, ALONG WITH COMPANY PROFILE AND SCAN PASSPORT
COPY OF COMPANY’S DIRECTOR / CEO
2. Seller issues to the Buyer a «Conditional Commercial Invoice» («CI»), in
accordance to the Terms and Conditions and Procedures of Business approved by
the Buyer as per below.
3. The Buyer Signs, Seals, Dates and Returns the Conditional Commercial Invoice
to Seller , along with proof of the Buyers capacity to lift the product by either their
(“Tank Storage Agreement” (“TSA”) and “Tank Storage Receipt/s” “TSR”) and/or
Vessel Co-Ordinates, consisting of the Buyers nominated Q88 / Charter Party
Agreement («CPA»), in order to receive the subject product in the Sellers Refinery
Suppliers delivery port.
SELLER REFINERY SUPPLIER WILL THEN ISSUE THE VERIFIABLE TANK
STORAGE FACILITY CO-ORDINATES TO THE BUYER FOR VERIFICATION OF THE
PLEASE NOTE:- THE BUYER WILL BE PROVIDED A MAXIMUM OF (12 ) TWELVE
HOURS IN WHICH TO ISSUE TO THE SELLER, THEIR VERIFIABLE DOCUMENT’S.
4. PURSUANT TO “CLAUSE 3” HEREIN, FOLLOWING THE SELLERS REFINERY
SUPPLIERS VERIFICATION OF THE BUYERS LOGISTICS, THE CONDITIONAL “CI”
BECOMES “UNCONDITIONAL” & IS NOW “FORMERLY EXCHANGED” BETWEEN
THE CONTRACTED PARTIES NAMED HEREIN, WHICH IS DEEMED THE BUYERS
ACKNOWLEDGMENT AND LEGALLY BINDING COMMITMENT TO PURCHASE &
RECEIVE THE SUBJECT FUEL AS CONTRACTED UNDER THE TERMS AND
CONDITIONS AND PROCEDURES OF BUSINESS OF THE COMMERCIAL INVOICE
AS STATED HEREIN WITHOUT AMENDMENT.
**NOTE**:- ANY EXTENSION OF TIME MUST BE MADE IN WRITING ALONG WITH
THE BUYERS “TSA/TSR CO-ORDINATES” IMMEDIATELY, WHICH IS SUBJECT TO
THE SELLERS FORMAL WRITTEN ACCEPTANCE.5. Once the fuel is verified by the Buyer («And/Or Their Nominee / Assign’s»), the
Seller through its Refinery Supplier, issues a Dip Test Authorisation (“DTA”) and
relevant “Proof of Product” (“POP”) documentation to the Buyer for further
6. The Buyer conducts the Dip Test Inspection and following successful result, pays
Seller nominated Banking Co-Ordinates or as so directed via MT103.
7. SELLER through its Refinery Supplier UPON CONFIRMATION OF ACT OF
TRANSFER IN THE BUYER’S NAME (“AND/OR THEIR NOMINEES/ASSIGN’S”
NAME), THE SELLER ISSUES TO THE BUYER, TITLE OF OWNERSHIP CERTIFICATE
TO BE FOLLOWED BY ALL EXPORT DOCUMENTATION. INTERMEDIARIES ARE
PAID AS PER THE SIGNED FEE AGREEMENTS (IF APPLICABLE).
8. STEPS (2) TWO THROUGH (7) SEVEN ARE REPEATED FOR ALL ADDITIONAL
LIFTS, AS REQUIRED BY THE BUYER AS PER THE BUYERS LOGISTICS.