Price and procedure non negotiable!!
Products: Premium Motor Spirit (PMS) and Dual Purpose Kerosene (DPK)
Grade/Specification: As per Buyer’s specification
Contracted Quantity: Minimum of 50,000 metric tons
Contract Duration: SPOT OR 12 months Contract
Delivery/Destination: C.I.F to ANY SAFE WEST AFRICAN PORT
Price: Price per barrel($400/10gross PMS, $440/10 gross DPK)
Commission: $10.00 to be shared equally by Seller’s and Buyer’s side
Payment term: Buyer’s irrevocable, transferable and confirmed SBLC after’s
Seller’s POP. Final Payment by SWIFT transfer in US DOLLARS after delivery of
product and presentation of shipping documents
CAUTION: WE DO NOT ACCEPT ANY MARKUP OR INFLATION OF OUR PRICES BY BROKERS.
BANKING/OPERATIONAL PROCEDURE (C.I.F TO ANY SAFE WORLD PORT)
1. Buyer counter-signs SPA and return with their (a) Discharge Port details. (b)
Habour Master name and phone number
2. Buyer’s Bank issues their READY, WILLING AND ABLE (RWA) LETTER
to Seller’s Bank STRICTLY according to the format.
3. Seller contracts their Consignor Refinery in Russia, obtains an allocation for
the contracted quantity and send the following documents/Allocation Papers
as Proof of Product (POP) to Buyer;
a. Refinery’s Commitment to produce the product for Seller
b. Refinery’s Statement of Availability of product for Seller
c. Refinery’s product Passport (Q&Q Report)
d. Legal Certificate of Origin of product in Seller’s Name
Refinery’s Export License.
f. Seller’s Certificate of Incorporation
g. Any other relevant document from the Seller as a proof.
4. Buyer confirms the POP and Buyer’s Bank issues their irrevocable, confirmable,
transferable and confirmed cash backed Standby Letter of Credit (SBLC) covering
the entire cargo in favour of Seller STRICTLY according the specified verbiage.
5. Seller loads a vessel and sends the Q88 of the vessel that will transport the
product to Buyer’s discharge port and instruct the Captain of the cargo laden
vessel to issue E.T.A (Estimated Time of Arrival) to Buyer’s Discharge port.
6. Buyer acknowledges the E.T.A within 24 hours by sending a Letter of
readiness to receive the cargo as wells as their IMPORT LICENSE IF
7. The cargo arrive Buyer’s Port within 14-18 days after confirmation of Buyer’s
Instrument and Seller release marine ATB for physical confirmation of cargo.
8. Buyer’s Inspector conducts Q&Q test and submit the report to the Bank of
both parties via email within 12 hours.
9. Payment is made for the entire cargo by SWIFT transfer immediately to seller
designated Account as shipping documents is sent to Buyer. Seller pays
commission Agents according to the signed IMFPA within 72 hours. The cost
of the bank transfer shall be borne by the recipient’s Bank.