LIQUID PETROLEUM GAS GOST 20448-90 (50/50 or 40/60 in %)
Price : US$330/ MT Gross and US$320 / MT Net
ORIGIN: Russian Federation
SPECIFICATION: Standard Export Quality
QUANTITY: 50,000 MT for first lift(minimum) and consequently a volume of 200,000 MT(maximum) within the SPA
Destination: CIF ASWP
Payment Terms: MT103MT799/MT700/MT760
Commission: US$10 / MT
Seller Side Closed Buyer Side Open
CIF TRANSACTION PROCEDURE (NON NEGOTIABLE)
1. Buyer issues ICPO and CP.
2. Seller issues draft SPA for all parties to review, comments and Endorsed, Buyer signs and returns with letter of acceptance.
3. Seller legalizes and registers the contract and sends PPOP as follows to Buyer’s bank: - Product passport - Copy of legalized contract - Statement of product availability - Refinery commitment to supply - Certificate of origin of the product - Company license to export -Company registration certificate
4. Buyer issues non-operative Instrument via MT-700/760/799(from "a"top"25""bank) for the monthly quantity of the product to Seller’s bank.
5. Seller swifts to Buyer‘s bank the full proof of product (POP) and 2% PB to activate Buyer’s bank to activate the instrument.
6. Shipment commences as scheduled in the contract and upon arrival of the first cargo at the discharge port. Buyer makes payment for the total product via MT103/TT within five (5) working days after CIQ / SGS inspection. Seller transfers the Title Ownership after confirm the payment.
7. Seller releases payment to the intermediaries involved in the transaction.
8. Delivery commences as Contract