RUSSIA VIRGIN FUEL OIL D6
Quantity: Minimum: 1,000,000 GALLONS PER WEEK. Maximum: 50, 000,000 GALLONS
Price: $0.85 GROSS / $0.80 NET
COMMISSION: $5 CENT PER GALLONS
FOB TERMS AND PROCEDURES.
1. Buyer sends ICPO along with Company Profile to Seller on receipt of Seller's Soft Offer.
2. Seller issue Commercial Invoice. Buyer signs and returns Commercial Invoice with Tank Storage Agreement (TSA) to seller acknowledging buyer’s legally binding commitment to Purchase under the terms and conditions herein.
3. Seller issues Dip Test Authorization letter to be signed by both parties (BUYER/SELLER). Buyer to have Tank Farm sign off for proof of the Buyer's readiness to inject product into Buyer's Tank.
4. Seller Approve the DTA attached with fresh SGS Report and Tank receipt to Buyer and Buyer order SGS to conduct Dip Test of the product in the Seller's Tank on Buyer Expenses.
5. Upon successful Dip Test, Buyer provides vessel details or Tank details, Seller shall immediately submit the full Proof of Product (POP) to the Buyer, Injection of the product Proceeds.
6. Buyer makes 100% payment by MT103 TT wire transfer for the total product and Seller pays commission to all intermediaries involved in the transaction within 24 hours after Confirmation of the buyer's payment.
7. Seller issues draft Contract to buyer to review for R&E monthly deliveries.