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      You are in ::  Home > Coal > Read
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Count : 106
Saudi Petcoke - ex Jubail 2018-02-13
 

Dear All,

Please find below draft SCO for the Saudi petcoke FOB as well as CIF.

DRAFT SOFT CORPORATE OFFER – PETCOKE SAUDI ORIGIN

Supplier agrees to accept both Transferable/ Non-transferable LC at sight as per Buyer’s choice


PETROLEUM COKE - SAUDI ARABIA ORIGIN ORIGIN SATROP/ARAMCO - SAUDI ARABIA QUALITY AS PER SPECKS
QUANTITY
50,000 MT TRIAL PM FOLLOWED BY 50,000 to 100,000 MT X 11 MONTHS PRICE FOB - $ 82.00 PER MT - FOB JUBAIL PORT SAUDI ARABIA

CIF - WEST INDIA - $ 92.00 PER MT - PRICE WILL CHANGE DEPENDING UPON FREIGHT AND DISCHARGE PORT
INSPECTION

SGS / AL-HOTY STANGER CO. (Seller shall provide fresh inspection report from Al Hoty- Stanger. www.alhotystanger.com ) Buyer may if required engage SGS or equivalent inspection agency to carry out inspection and obtain inspection report their own cost.
PAYMENT TERMS IRDLC. 100% PAYABLE IRREVOCABLE TRANSFERABLE, OR

NON-TRANSFERABLE L/C AT SIGHT. THE L/C SHOULD BE ISSUED FROM ANY REPUTED BANK. EXPECTED DELIVERY
15-20 WORKING DAY AFTER RECIVING FINANCIAL INSTRUMENT FROM BANK. SHIPMENT PARTIAL SHIPMENT ALLOWED PACKING BULK VESSEL LOADING PORT JUBAIL PORT - SAUDI ARABIA PERFORMANCE BOND 2% ISSUED BY THE SELLER


TRANSACTION PROCEDURE – FOB

1. Buyer issues ICPO with Seller’s Procedures incorporated on the ICPO.

2. Seller issues SPA (Draft Contract) for Buyer to sign and return. Buyer verifies and returns it to Seller by e-mail.

3. Seller check verified and it all the acceptable, will sign the final contract and return the buyer via e-mail. 4. Buyer verifies that the contract is final approved, sign and sealed by the Seller.

5. Within 2 (two) days the final contract must be returned to the Seller, sign and approved, by Buyer e-mail if final contract is not returned to the Seller at the deadline, contract shall be considered null.

6. After signing contract Buyer & Seller should compulsorily register the Contract with the Chamber of Commerce Saudi Arabia and Buyer Country the registered copy should be transferred between them.

7. First shipment 50,000/ MT is trail shipment after successful first shipment Buyer / Seller contract will be continue for 11 month.

8. Seller issues a Pro-Forma Invoice for payment.

9. After sign contract and receiving Pro-Forma Invoice within 3(Three) working days Buyer issue draft LC for approval by Seller.

10. Buyer issue 100% confirmed irrevocable, Non-transferable OR, transferable (LC ONE TIME TRANSFERABLE TO SATROP) (SAUDI ARAMCO TOTAL REFINING AND PETROCHEMICAL COMPANY) nonoperative DLC at sight to Seller Bank for the 1st shipment after the successful completion of 1st shipment the transferable DLC will convert to IRDLC for monthly shipments, and copy to Seller via e-mail.

11. After Buyer Issue non-operative FOB terms transferable DLC within 5 (Five) working days the Seller will issue a operative performance bond of 2% of the value of one month shipment after receipt of the MT700 to Seller Bank and the DLC become operative.

12. Within15-20 working days after receiving 100% irrevocable, transferable letter of credit at sight (DLC) the Seller Shall Commence loading immediately.

13. Buyer shall complete all payment to seller against FOB TRANSFERABLE/ OR NON-TRANFERABLE DLC @ sight for single shipment of 50,000 MT per month. Buyer pay’s via MT 103 before ship leaves from loading port.

14. Upon receiving the all payment in the seller’s account, the final transfer documents shall be delivered to the buyer to allow the ship to carry out
the customs clearance procedure at the Customs and port Authority to leave Jubail Port, Saudi Arabia.


CIF PROCEDURE


CLAUSE 7 – MAIN WORKING PROCEDURES / BANKING PROCEDURES (CIF TRANSACTION) 1. Buyer issues ICPO with Seller’s Procedures incorporated on the ICPO. Than Seller issue FCO.

2. Seller issues SPA (Draft Contract) and CI (Commercial Invoice) for Buyer to sign and return.

3. Buyer verifies and returns it to Seller by e-mail.

4. Seller check verified and it all the acceptable, will sign the final contract and return the buyer via e-mail.

5. Buyer verifies that the contract is final approved, sign and sealed by the Seller.

6. Within 2 (two) days the final contract must be returned to the Seller, sign and approved, by Buyer e-mail if final contract is not returned to the Seller at the deadline, contract shall be considered null.

7. After signing contract Buyer & Seller should compulsorily register the Contract with the Chamber of Commerce and Ministry of Foreign Affairs of India & Saudi Arabia and the registered copy should be transferred between them.

8. First 2 (Two) shipment MT 50,000x2 is trail shipment after successful first 2 shipment Buyer / Seller contract will be continue for 11 month.

9. Seller issues a Pro-Forma Invoice for payment.

10. After sign contract and receiving Pro-Forma Invoice within 5(Five) working days Seller issue draft LC for approval by Buyer.

11. Buyer issue 100% confirmed irrevocable, non-operative DLC at sight to Seller Bank for the 1st shipment after the successful completion of 1stshipment the DLC will convert to IRDLC for monthly shipments, and copy to Seller via email.

12. After Buyer Issue non-operative DLC within 5 (Five) working days the Seller will issue an operative performance bond of 2% of the value of one month
shipment after receipt of the MT700 to Seller Bank and the DLC become operative.

13. Within 15-20 working days after receiving 100% irrevocable, non-transferable letter of credit at sight (DLC) the Seller Shall Commence loading immediately.

14. Buyer shall complete all payment to seller against DLC @ sight for single shipment of 100,000 MT per month. Buyer need to pay via MT 103 within 2 working days after receiving the POP and shipping documents to buyer bank.

CLAUSE 8 - INSPECTION – QUANTITY / QUALITY DETERMINATION · Seller and Buyer mutually agree that an internationally recognized first class independent Surveyor Company (Quality certificate) BY AL HOTY-STANGER LTD. CO & (Quantity Certificate) issued by Shipping Company and Custom department of Saudi Arabia. The inspection costs at loading ports shall be covered by Seller .

Kindly revert in case if you have prospective buyers.

Best Regards

Capt Sukhdev Singh Bhamra
+918291239569

 
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