LPG-LNG Sellers Published date: January 25, 2016 Modified date: May 20, 2016

Commodity : Liquefied Petroleum Gas (LPG 50/50)

Origin : Russia Origin
Inspection: : CIQ or Equivalent ATV, DTA
Liftable : 50,000 MT (Spot/Trial)
Contract Quantity : 650,000 MT
R & E Contract Length : 1 + 12 Months
Intercom : CIF
Price : $375 USD
Commission :Buyer 2.50 USD/Seller 2.50 USD
Destination: : Any Safe World Port
Payment Guarantee : SBLC 760
Payment : MT103/TT
Discharge Port Inspection : CIQ / SGS or equivalent, done at discharge port will be at Buyer's Cost.
Delivery and Payment Procedure: Payment for each shipment shall be effected within 50 Banking Days by T/T (MT 103) upon
positive inspection by SGS/CIQ at Discharging Port, The basis of settlement and Payment shall be based in accordance with the Inspection Certificate issued by SGS/CIQ or comparable
International Surveying Company. This Delivery and Payment procedure shall be applied from 1st shipment up to the 12th shipment, for the last (13th) shipment, product will be financially paid using the Deposit SBLC.

Working Procedures:
1. Seller issues FCO to Buyer. And Buyer issues ICPO to Seller including:
i. Buyer Passport Copy
ii. Buyer company profile.
iii. Buyer Company Registration License
iv. Buyer LPG Import License
v. Buyer’s Proof of fund. E.g. verifiable BCL, Bank Account Statement/Tear sheet
vi. Authorization letter to contact buyer’s bank officer via email and telephone to do a verifiable MT Swift soft probe into buyer’s bank account.
vii. Buyer’s Busan Tank coordinates, Tank Injection Clearance, Tank agreement, Tank Receipt with Tank number on it.

2. Seller issues spa draft contract open for amendments. Buyer returns signed draft contract. Seller and Buyer exchange legalized and registered contract through courier and lodge contract in respective Bank.

3. In the primary stage Buyer’s Bank will issue Non-operative STAND By Letter of Credit (SBLC) to United Overseas Bank Singapore and, United Overseas Bank Singapore will reply with a 2% Performance Bond to Buyer TO ACTIVATE THE SBLC and the assignee names by means of prime 100 world ranking banks guarantee Model ICC MT 103/TT acceptable in written by Buyer and if the Seller fail to supply the cargo of the product this 2% will be paid to Buyer

4. Buyer shall issue a Stand-By Letter of Credit (SBLC) with face value equivalent to one (1) shipment of 50,000 MT.

CALCULATION : ( LPG 50,000 MT X USD 375) will be equal to an amount of USD 18,750,000 a SBLC operative instrument. The validity of SBLC should be 1 year and 30 Days, and shall be placed as Guarantee.

Seller Issues Performance Bond (PB) 2.00% on the Face Value of the SBLC equivalent to: USD 375,000 with the same validity as the SBLC (1 Year and 30 Days)

5. Seller deliver the first shipment as per agreed precise date, and the specifications as stipulated in contract.

• Company Name: Gao Lin Renewable Energy Company
• Country: Taiwan

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