COMMODITY: M100 GOST 10585-99 | MAZUT Buyers | MAZUT.org 

COMMODITY: M100 GOST 10585-99



MAZUT Buyers Published date: August 27, 2019



COUNTRY OF ORIGIN: RUSSIAN FEDERATION
PORT OF DELIVERY / DESTINATION: QINGDAO PORT, CHINA
QUANTITY: 50,000 MT FIRST MONTH, 150,000 MT SECOND MONTH, + 200,000 MT PER
MONTH X12 MONTHS
CONTRACT TERM: 1 YEAR CONTRACT WITH ROLLS & EXTENSIONS UP TO 5
YEARS
PRICE: $US 230 / 220 PER MT
COMMISSION: $5.00 USD PER MT SELLER’S SIDE TO BE PAID BY SELLER, $5.00 USD
PER MT BUYER’S SIDE TO BE PAID BY BUYER.
PAYMENT MODE: SWIFT MT103/TT FOR FINAL PAYMENT.
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TRANSACTION PROCEDURES (CIF)
1. Buyer issues LOI /ICPO to the Seller /Seller Agent.
2. Seller will issue Full Corporate Offer to Buyer.
3. Buyer sign / endorse and return.
4. Seller issue Draft SPA for open amendment for Buyer’s approval sign and endorsed along with the
NCNDA / IMFPA if any.
5. Buyer Return Draft Contract SPA to Seller, for Seller to countersign and seal for approval with the
Russia appropriate authority.
6. Seller sends to Buyer the copy of the Legalized and Notarized hardcopies SPA along with the
a) Company confirmation,
b) Acceptance; and
c) Commitment Letter for Supply of the product to Buyer Company.
7. Buyer contact shipping company and summarize the Shipping Schedule cost.
8. Seller issue Partial Proof of Product (POP) and shipping documents as listed below via email/bank:
i) Statement of availability of Product
ii) Refinery Commitment to Supply the product
iii) Certificate of Origin of the Product
iv) Company License to Export
v) Company Registration Certificate
vi) Product Passport
vii) Bill of Lading and Vessel’s Q88.
9. Seller purchase 100% marine insurance against all risks and send a Certificate of Cover to the buyer
via email.
10. Seller’s bank will swift 2% PB to buyer’s bank alongside the SGS Report, DTA and the outstanding
POP and shipping documents including N.O.R and ETA of the Vessel.

11. Shipment will commence within 2-3 days upon receiving Documentary Letter of Credit (DLC MT-
700) from Buyer’s bank and upon arrival of the cargo at the discharge port, payment will be made for

the product by the buyer Via T/T Wire transfer after CIQ / SGS Inspection at discharge port.
12. Upon shipment delivery and receipt of payment, Buyer’s bank will issue Irrevocable Documentary
Letter of Credit (DLC MT-700) which will be revolving for 11 months to the Seller’s bank and
payment will be made at sight against SGS Inspection at the discharge port for upward deliveries.

  • Publisher: Petros
  • Company Name: Europapower Global Ltd. & Co. KG



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