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| Lihoy > Energy > Fuel Oil > Sell M100-75 (Gost 10585-75) |
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| Quantity: Min 500,000 mt per month x 12 months with extensions Origin: Russian Price: USD305 / MT; Commission: Seller side (closed) , buyer side USD2.00 per MT Payment terms: a) Monthly Payment by Revolving, Assignable, Irrevocable, Divisible and Transferable Confirmed Documented Letter of Credit (RDLC). b) Guaranteed by an Unconditional, Assignable, Irrevocable, Divisible, Transferable and Callable Bank Guarantee (BG) from one of the S&P Prime 25 World Bank for the amount equal to one (1) month purchase order value maturing after one year, one month and one day. Alternatively, a Stand By Letter of Credit (SBLC) for the same amount and duration is acceptable too. Procedure as follows (for M100 Russian Origin) 1. Buyer issue LOI to the Seller 2. Seller issues the FCO to the buyer and the buyer signs and seals the acceptance of the FCO and returns the original back to the Seller. (FCO is valid for 5 working days) 3. Within 5 (five) international banking days the Buyer issues ICPO with BCL signed by 2 (two) Bank Officers to the Seller Company or Bank Letter Guarantee (BLG) from the Buyer Bank to the Seller with authorization for Soft Probe 4. Seller issues Soft Copy of the Draft Contract with terms and conditions for review by the buyer. When both parties agree on the draft, then both parties sign the contract in a way convenient to both. If by courier, then 4 (four) originals will be send back to the buyer for signing and return. 5. Buyer`s Bank issues to Seller`s Bank Pre Advise of Revolving, Assignable, Irrevocable, Divisible and Transferable Confirmed Documented Letter of Credit (RDLC), of one (1) month supply value and an Unconditional Callable Transferable Divisible, Assignable, Bank Guarantee (BG) or Stand By Letter of Credit (SBLC) for the value of one (1) month supply. 6. Within 21 (twenty one) international banking days after Seller receives positive verification and validation of the BCL (or BLG) and ICPO and the BG (or SBLC), the Seller will provide Part Proof of Product, that is, Allocation Number 7. After signing of the contract and receiving POP, the buyer`s bank will automatically make the DLC operative by Bank SWIFT WIRE MT760. Confirmation by SWIFT WIRE MT760 sent to the Seller`s bank coordinates. 8. The Seller`s bank will issue a 2% Performance Bond (PB) within 3 (three) international banking days, after RDLC issued by the buyer`s bank becomes operative. 9. The Seller will provide Charter Party Agreement to the Buyer, within 14 (fourteen) international banking days, after Seller receives and confirms the RDLC (and other documents listed above) 10. After Seller`s bank receives and confirms the RDLC (and other documents listed above), the Seller will within 14 (fourteen) working days proceed to start loading the commodity based on the RDLC received and confirmed, quantity, port of delivery, import license and other related documents from the buyer. The second and subsequent shipment delivery will be within blocks of 30 (thirty) working days. (as per loading schedule) 11. Shipment(s) take place as per contract (min 50`000MT per single vessel) CASPRO SDN BHD
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