CI,DIP&PAY -FOB -Russian Port
Base Price:Platts-NWE platt's, + premium addition
Contract -1 Year - renewable with R&E,
Under the following End - Seller Procedure:
1. Buyer issue LOI , ICPO, & RWA to Seller with full banking information / details.
2. Seller issues CI and Draft Contract to Buyer for signatory and Buyer return signed CI together with Bank Confirmation (RWA/BCL). Attach with TSA and ATV
3. All parties sign NCNDA / IMFPA and Seller are responsible for endorse with Seller's bank and notarization.
4. Seller provides Buyer the following documents:
- Certificate of Origin
- Previous Analysis result by SGS or other equivalent.
- Dip Test Authorization Letter
- Pipeline Injection Report
5. After verification, Buyer will pay to SGS to conduct Dip Test in Seller's tank in (Primorsk/Baltic/Novorossysk/Kozmino), meanwhile Buyer arrange MT103 issuing to Seller.
6. Buyer will make payment of the product by MT103 to Seller within 48 hours after successful dip test made by SGS.
7. Buyer will lift the oil after payment and Buyer will be responsible for the Tank storage fees from the date of successful Dip Test till Buyer lift the oil.
8. Seller will pay all mandates / intermediaries involved in the transaction according to the NCNDA / IMFPA.
If Buyer is ready ,this should be no problem at all,to agree Seller Procedure .
For any official offer ( SCO ) Buyer should send official Letter of Interest ,with Product Name,- needed Qty - Bank Information -
Letter of Interest = LOI ... Q 88 ...& RWA = Ready - Willing & Able
*** NOT ACCEPTED***- LOI with Buyer Procedure, or any change on Seller Procedure...
End Seller, after verify Documents, respond with official FCO to Buyer.
TTM-can be arrange, after Bank to Bank confirmation of purchase.