MAZUT Sellers Published date: November 20, 2014 Modified date: November 22, 2014

We have the latest offer for Mazut M100 with origin Russian.Please find the procedure as below. If you are agreed with the procedure please reply to me.

Price USD 475/mt CIF China Port
TRANSACTION PROCEDURE

1. The Buyer shall submit their Irrevocable Corporate Purchase Order (ICPO) to the Seller and in a format that is acceptable to the Seller (a draft of which will be provided); the ICPO shall be accompanied by copy of valid Import License in the country of destination

2. The Seller verifies Buyer’s import license and bank information; the Seller confirms the Buyers ICPO and issue their final Full Corporate Offer (FCO) to the Buyer;

3. The Buyer shall countersign and seal the Final FCO and shall return it to the Seller;

4. The Seller confirms the signed FCO and issues Draft Sales and Purchase Agreement (SPA) to the Buyer directly, the SPA shall be open for amendments;

5. The Buyer shall return to the countersigned and Sealed SPA to the Seller Company with a letter of acknowledgement and scanned copies of the Buyers company registration and passport copy of buyer. Signed SPA shall be accompanied by recent, original and verifiable POF;

6. The Seller shall Register/Legalized the SPA with the appropriate ministry at the Sellers own expense and send scan copy the registered hard copy SPA for delivery to the Buyer via email;

7. Sellers bank shall post non-operative 2% Performance Bond (PB) to buyer bank and Buyer issue BG to Seller (MT799 Blocked Funds or SBLC) via bank SWIFT system to activate the seller 2%PB;

8. The Seller secures/reassigns the “POP Documents & Certification of Ownership” to identify the Buyer company as the beneficiary owner of the product allocation;

9. The Sellers bank shall post Full POP documents listed below to the Buyer;

(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, Tank receipt and SGS report, along with shipping documents from the shipping company.

10. Delivery commences as per contract and the shipment should arrive at the Buyers discharge port within 30-45calendar days;

11. Within a maximum of 5 working days of Vessel arrival at the discharge port, the buyer makes the full payment of the product by MT103 for one month shipment after CIQ or SGS at the destination port;

12. If the Buyer has not completed the CIQ process within this 5 working days payment shall be made in full based on the SGS Report.


IMPORTANT NOTES:
(i) In this purchase, not to pay any fee upfront and other payments under working procedures, whether courier fee or registration fee or legalized documents fee, except normal issuance fee for BG (MT799/SBLC) as payment item;
(ii) Also not accept shipment with bunkering or stopover at any Malaysia and Singapore ports. If vessel bunker or stopover at any above ports, buyer will reject or refuse to receive the goods. Only accept shipment direct from loading port.

• Country: Malaysia

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