MAZUT Buyers Published date: August 20, 2016 Modified date: August 20, 2016

MAZUT M100 GOST 10585/75

MINIMUM QUANTITY: 2,000 METRIC TONS

MAXIMUM QUANTITY: 500,000 METRIC TONS

INCOTERMS: CIF - ASWP

PRICE:

NET: USD $ 200

GROSS: USD $ 210


TRANSACTION TERMS AND CONDITIONS:

DELIVERY: CIF - ASWP

PAYMENT TERMS: Transferable MT 760 / MT103/72 BLOCKED FUNDS

PERFORMANCE BOND: 2% Performance Bond will be issued from Seller’s bank to Buyer’s bank upon receipt of buyer’s financial instrument in Seller’s bank
.
QUALITY: Q&Q test report will be conducted at the loading port by SGS or Equivalent at the expense of the seller's company.

PRODUCT'S ORIGIN: Russia Federation.

COMMISSION:
The seller or buyer is responsible for paying the agreed commission of USD$ 10 (TEN Dollar) per metric ton be divided as follows;
 USD$ 5 (Five Dollar) per metric ton to be paid to the seller group- closed
 USD$ 5 (Five Dollar) per metric ton to be paid to the buyer group-open

The agreed commission will be included along the Irrevocable Master Fee Protection Agreement (IMFPA) to be signed between the buyer's and the seller's group for each party after the buyer has reviewed, signed and returned the SPA)

NON-NEGOTIABLE PROCEDURES: CIF - ASWP

1. BUYER ISSUES ICPO ADDRESSED TO THE SELLER.

2. SELLER ISSUES DRAFT SPA FOR ALL PARTIES TO REVIEW AND ENDORSE ALONG WITH THE NCNDA/IMFPA, BUYER SIGNS AND SENDS BACK WITH A LETTER OF ACCEPTANCE.

3. SELLER REGISTERES THE SIGNED CONTRACT WITH THE MINISTRY OF ENERGY FOR APPROVAL ON (SELLER's EXPENSE) AND SENDS THE SCANNED COPY OF THE APPROVED DRAFT CONTRACT VIA SECURED E-MAIL TO BUYER INCLUDING THE BELOW LISTED PROOF OF PRODUCT DOCUMENTS:

a) COPY OF STATEMENT OF AVAILABILITY OF THE PRODUCT.
b) COPY OF COMMITMENT LETTER TO SUPPLY THE PRODUCT.
c) COPY OF CERTIFICATE OF ORIGIN.
d) COPY OF PRODUCT PASSPORT (DIP TEST RESULT).
e) COMMERCIAL INVOICE FOR THE LIFTABLE QUANTITY.
f) COPY OF THE APPROVED DRAFT CONTRACT.

4. BUYER CONFIRMS AND ISSUES PAYMENT INSTRUMENT VIA MT760, MT103/72 THROUGH SWIFT FOR THE FIRST TOTAL LIFT ABLE TRIAL SHIPMENT, WITHIN 5 WORKING DAYS, SELLER TRANSFERS TITLE APPROVED BY THE MINISTRY OF ENERGY TO IDENTIFY THE BUYER’S COMPANY NAME AS THE BENEFICIARY OWNER OF THE PRODUCT ALLOCATION.

5. SELLER PROVIDES THE FOLLOWING POP DOCUMENTS, TRIAL SHIPMENT BEGINS:

a) COPY OF LICENSE TO EXPORT, ISSUED BY THE DEPARTMENT OF THE MINISTRY OF ENERGY.

b) COPY OF APPROVAL TO EXPORT, ISSUED BY THE DEPARTMENT OF THE MINISTRY OF JUSTICE.

c) COPY OF STATEMENT OF AVAILABILITY OF THE PRODUCT.

d) COPY OF THE REFINERY COMMITMENT TO PRODUCE THE PRODUCT.

e) COPY OF THE OJSC AK TRANSNET CONTRACT TO TRANSPORT THE PRODUCT TO THE PORT.

f) COPY OF THE PORT STORAGE AGREEMENT.

g) COPY OF THE CHARTER PARTY AGREEMENT(S) TO TRANSPORT THE PRODUCT TO DISCHARGE PORT.

h) DIP TEST AUTHORIZATION.

i) TANK RECEIPT.

j) SGS REPORT.

6. AFTER THE FIRST SUCCESSFUL TRIAL SHIPMENT OF ONE MONTH, SELLER’S BANK POST 2% P/B & FULL POP DOCUMENTS FOR THE SECOND TO THE LAST MONTH DELIVERY WITH THE BELOW POP DOCUMENT TO THE BUYER BANK AND THE BUYER BANK REPLIED WITH MT 760 SWIFT BLOCK FUND; CONTRACT EXECUTION BEGINS UNTIL END OF CONTRACT TERMS.

7. SHIPMENT COMMENCES AS PER CONTRACT SCHEDULE.

8. WITHIN 5 WORKING DAYS OF VESSEL ARRIVAL, BUYER RELEASES FULL PAYMENT VIA MT103 FOR ONE MONTH SHIPMENT AFTER CIQ OR SGS AT THE DESTINATION PORT.

9. BUYER OR SELLER WILL RELEASE PAYMENTS TO THE INTERMEDIARIES, ALL AGENTS AND MANDATES AS PER SIGNED NCNDA/IMFPA WITHIN 48 HOURS OF RECEIVING THE PAYMENT FOR THE PRODUCT FROM THE BUYER’S BANK.


SHOULD YOU BE INTERESTED IN OUR PRICES & NON-NEGOTIABLE PROCEDURES PLEASE PROCEED TO ENGAGE.

THANK YOU.

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