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      You are in ::  Home > Fuel Oil > Read
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Count : 124
M100-LPW SULFUR RUSSIAN - CIF CHINA- DLC TERMS 2018-06-10
 
MAZUT 100 GOST–10585-75
Volume: 40,000MT per MONTH
Origin: Russian


**LOI AND CP IS MANDATORY TO PROVIDE QUOTATION. WITHOUT LOI WE WILL NOT RESPOND.**

LOI MUST ACCEPT THE BELOW PROCEDURE.

CIF (COST, INSURANCE & FREIGHT) - TRADING PROCEDURE:

1. Buyer issue LOI to seller with targeting price.

2. Seller issued FCO to buyer, buyer signed FCO and return it accompanied with acceptance letter to seller.

3. Seller issues Draft Contract for buyer to countersign upon acceptance of terms and conditions.

4. Seller confirms final contract, at own expense notarizes it and submit partial POP buyer (via email):-

a) Commitment letter to supply the product,

b) Commodity Transaction Passport (Transfer Certificate),

c) Product Injection Report/ Sanitary Commercial Invoice,

d) Final Notarized SPA copy,

e) Seller’s Registration Certificate.

5. Seller at own expense, signs CPA with shipping/logistic company and alert buyer on shipment ordered graphic/schedule accompanied with submission of nominated Vessel details to buyer.

6. Upon shipment schedule announcement, buyer’s bank within five (5) working days shall swift DLC/MT700 or SBLC to seller’s bank, seller’s bank responds with contractual operative 2% PB and full POP to buyer’s bank within twenty four (24) hours since buyer’s instrument confirmed by seller’s bank.

7. After seller’s bank receipt of buyer’s LC, loading commences from 5-10 days. If the buyer fails to issue agreed instrument within said five (5) working days, as an alternative provision, within seventy-two (72) hours, buyer shall immediately pay agreeable % of shipment value via TT-Wire to seller’s Logistic Company or Escrow governing to guarantee restoring chartered performance and rectification to ordered shipping graphic, the agreed % will later been deducted from product’s Invoice payment value.

8. Upon successful confirmation of quality and quantity at destination port, buyer makes payment by MT103.

9. Seller, within seventy two (72) hours, pays commissions to all intermediaries involved in the transaction.
 
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