MAZUT Sellers Published date: January 21, 2019

We can do CIF China Port with PB upfront with the below procedure. If you are genuine Buyer please reply to email qingdaooilgas@gmail.com
Can start delivery in February 2019.Limited allocation.
1.1 Upon confirmation and endorsement of this contract, Seller issues a performance bond via SWIFT MT 760 worth USD 240,000.00 $ (Two Hundred Forty Thousand United States Dollars) to the end buyer as per Appendix No.: 5 and a payment request for the logistical fees for the transaction worth USD 200,000.00 $ (Two Hundred Thousand United States Dollars).

1.2 Buyer confirms the received performance bond and remits USD 200,000.00 $ (Two Hundred Thousand United States Dollars) for the internal logistics of the transaction to the authority responsible. The performance bond is to act as collateral for the logistical payment.

1.3 Seller confirms that the logistic fees have been paid, and loads the vessel in 3 banking days. Seller as well issues all proof of product to buyer for the loaded vessel. If the goods can not arrive at the buyer's port within 30 days after the buyer pays the freight, the performance bond of USD240000 will be paid to the buyer as a breach of the agreement by the seller.

1.4 Delivery is made as per Appendix No. 2. Buyer inspects the product and pays for the delivered goods in seven banking days deducting USD 200,000.00 $ (Two Hundred Thousand United States Dollars) paid earlier for the logistical fees.

1.5 The same procedure is repeated until all goods as stated in Appendix No. 2 are delivered.

2. As assessed at the Loading port by the Independent Inspector or Surveyor Company, quantity and price as determined will be used to compute the Seller’s invoice.

3. In the event payment due date falls on a Saturday or a New York banking holiday other than a Monday, then payment will be affected on the preceding New York banking day. If the payment due date falls on a Sunday or a Monday, which is a banking holiday in New York, then the payment shall be effected on the next New York banking day.

4. All documents drawn under unloading shall be duly honored upon presentation, unless otherwise stated.

5. Payment for the Goods sold under the present Contract shall be calculated on out-turn Metric Ton. Cost of each tanker consignment of goods will be defined for a final price specified in item 1.1. The present Appendix №4 and on the basis of the documents represented to the Buyer by the Seller:

6. Third party documents acceptable.

7. All expenses made with Buyer’s bank are for Buyer’s account, and all expenses made with Seller’s bank are for Seller’s account.

8. Seller shall issue Performance Bond of USD240,000.00 with validity of 45 days and reissue again for every shipment. In the event on non-performance by the Seller, the Seller’s PB will be called up by the Buyer. After the Buyer received compensation from the Seller’s bank, both parties have the right to terminate the contract. If the Seller wants to continue the contract, the Seller’s bank should post corresponding PB to the Buyer within 48 (forty eight) hours (or auto revolving PB) having the same tenor as the previous one. Should this be the case, all future payments due by the Buyer will be suspended until such time that the new PB has been placed.

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