D2 Contract | D2 Sellers | MAZUT.org 

D2 Contract



D2 Sellers Published date: August 11, 2015 Modified date: August 11, 2015



Product: D2 GAS OIL L-0.2-62 GOST 305-82
CIF price: US$470.00 Gross / US$460.00 Net per MT
(FOB/SPOT – US$430 Gross / US$420 NET)
Quantity: 100,000 MT (Trail Shipment) x 12 months

PROCEDURES FOB AND CIF:

1. The Buyer issues an Irrevocable Corporate Purchase Order (ICPO) with ICPO and sends it via electronic mail alongside with the following Documents;

a. Buyer’s passport copy
b. Company Profile
c. Buyer’s Company registration
d. BCL

2. Seller issues the Draft Contract for the Buyer’s signatory. The Draft Contract must be duly endorsed and returned alongside with the Official Letter of Acceptance by the Buyer and BCL with recent data.

3. Seller release the Partial POP Documents to the Buyer via E-mail as follows:

a. Approval to Export,
b. Certificate of Origin,
c. Analysis Report (Q&Q) by RIDZHIT,
d. Commitment to Supply,
e. Commercial Invoice.

4. Upon the receipt of the Partial POP Documents, as advised above, the Buyer’s Bank issues an Irrevocable, Non Transferable, Confirmed, SBLC/MT760, - Verbiage "Appendix A" in favour of the Seller as guarantee of payment for Good supplied, covering the one-month delivery as per the Commercial Invoice.

5. Within 48 hours after the receipt and confirmation of the Payment Instrument, the lifting commences and the Seller’s Bank shall swift the Full POP Documents to the Buyer’s Bank alongside with the 2% Performance Bond (PB), in case of delivery failure by the Refinery and the 2% of the Cargo worth will be paid to Buyer.

6. Buyer pays via T/T (MT103) CIF Wire Transfer upon the arrival of the cargo and after Inspection at discharge port. FOB buyer pays after Dip Test and during loading.

7. Seller will release payments to the intermediaries involved within 48 hours of receiving the payment for the product from the Buyer’s bank.

Thanks!!
Ashwani Tyagi

  • Company Name: Ashwani Tyagi
  • Country: India




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