Quotation for RUSSIAN ORIGIN DIESEL D2 GAS OIL (EN 590) ULTRA LOW SULPHUR 10 PPM
Standard Export Quality – FOB Rotterdam
Date: 22/06/2018 / Validity: 05/07/2018 / Ref.: Bitd22018
To: Buyer's Mandate/End Buyers
Commodity RUSSIAN ORIGIN DIESEL D2 GAS OIL (EN 590) ULTRA LOW SULPHUR 10 PPM Standard Export Quality.
Origin: Russian Federation
Quantity: 100,000 MT. Trial Shipment followed by 200,000 MT. per month for a two year contract (24 months), with possible Roll-overs and Extensions.
Port of Loading: Rotterdam, Netherlands
Mode of delivery: FOB
FOB price per MT: Fixed price US$ 380 per MT. (gross) - US$ 370 per MT. (net)
Payment terms: See Procedures.
Inspection: SGS to conduct Dip Test of the product in Seller’s tanks on Buyer’s expense.
STANDARD PROCEDURE FOB DIP AND PAY / ROTTERDAM PORT:
1.Buyer sends ICPO to Seller on receipt of Seller's Soft Offer along with tank storage agreement (TSA) as proof of storage availability.
2.Seller issues draft Contract /Commercial Invoice (CI), for the available quantity in the storage tank to Buyer, Buyer signs and returns to Seller with
scan Passport copy/NCNDA/IMFPA signed by all Buyer groups with Commission Structures. (draft Contractwill be released after the Spot deal)
b.Authorization to Sell (ATS);
c. COMMITMENT & ASSURANCE LETTER TO SUPPLY; and Dip Test Authorization AGREEMENT letter to be signed by all parties including the Buyer's
tank farm and to be returned by Buyer, signed by each party.
b.Tank Storage Agreement,
c. SGS Report
e. Certificate of Origin
f. Dip Test Authorization (DTA)
5.Upon the successful verification of the PPOP by the Buyer, Buyer orders SGS to conduct the Dip Test of the product in the Seller's Tank on Buyer's
6.Upon successful Dip Test, Buyer provides Vessel details or Tank details, Seller issues Titleof Ownership Certificate to be followed by all export
7.Buyer makes 100% payment by MTIO3 TT wire transfer for the total product and Seller pays commission to all Intermediaries involved in the
transaction 24 hours after confirmation of the Buyer's payment.
8. Seller submits the draft SPA for review for R&E monthly deliveries.
9.Buyer revises and approves the SPA and issues SBLC/IRDLC irrevocable, non transferable, auto revolving for the monthly shipment value,
Documentary Letter of Credits for length of Contract and for each lift per schedule. Buyer pays after Dip Test by MT 103 wire transfer on each month.
10.The subsequent deliveries shall commence according to the terms and conditions of the Contract.
11.Seller pays Commissions to all Intermediaries as per IMFPA/NCNDA 24 hours after receiving payment from the Buyer.