MAZUT 100 GOST - 1058575 - 99
Dear Sir,
Please review the Supplier's procedure
MAZUT 100 GOST - 1058575 - 99
CIF Price: $435 GROSS / $425 NET
FOB Price: $425 GROSS / $415 NET
QUANTITY: Minimum 200,000 MT Maximum: 900,000 MT (OPEN FOR NEGOTIATION)
ORIGIN: RUSSIAN FEDERATION
PAYMENT TERMS- DOCUMENTARY LETTER OF CREDIT (L/C) – SBLC MT760 -MT 103/23 (OPEN FOR NEGOTIATION)
LOADING PORT: VLADIVOSKOV/NAHODKA/BLACK SEA/NOVOSIBIRSK/NOVOROSSIYSK KOZMINO PORT
DISCHARGE PORT: AWSP
PERFORMANCE BOND (PB): 2% BY SELLER
POP: WILL BE PROVIDED BANK TO BANK AS PER DOCUMENT LISTED IN SIGNED CONTRACT
INSPECTION: SGS OR CIQ
SHIPMENT METHOD: VIA VESSEL OR PIPELINE TO BUYER DISCHARGE PORT
STANDARD PROCEDURE CIF/FOB
1. Buyer Confirms Soft Offer and issues up-to-dated send to Seller their LOI / ICPO.
2. Seller issues Full Corporate Offer (FCO) to Buyer. / Buyer sign FCO and The acceptance of term and procedures of the seller Company.
3. Seller send Draft Contract, Buyer within 3 working days counter amends Draft contract signed and sealed AND Seller issue NCNDA/IMFPA.
4. Buyer sign and return the FCO within the valid day to confirm the deal and issues BCL with the Authorization letter to verify the BCL/ Proof of Fund.
5. Seller issues PPOP (Partial POP) as follows:
*Company Registration Certificate
*Commitment to Supply
*Confirmation of Product Availability
*Export License
*Product Certificate of Origin
*Product Passport (Quantity and Quantity Analysis)
*Tank Storage Receipt
6. Seller Register/Notarize hard copy contract with involved Ministry of Energy.
7. Upon the agreement of the details on the contract, seller and buyer exchange legalized hard copies contract through courier
8. Buyer’s Bank issues documentary letter of credit (L/C) , Seller Bank reply with a 2% Performance Bond (PB) to buyer and the assignee names by means of prime 50 banks
Guarantee Model ICC 458 acceptable in written by BUYER and if the seller fail to supply the cargo of the product this 2% will be paid to buyer.
9. Seller shall issues to BUYER’S bank the proof of product Full (POP) plus 2% Performance Bond which also includes the following
The Seller will provide the following documents as POP.
1. Copy of license to export, issued by the department of the ministry of energy.
2. Copy of approval to export, issued by the department of the ministry of justice.
3. Copy of statement of availability of the product.
4. Copy of the refinery commitment to produce the product.
5. Copy of Transnet contract to transport the product to the port
6. Copy of the port storage agreement
7. Copy of the charter party agreement(s) to transport the product to discharge port.
8. Upon completion and verification of all transaction documents, Seller commences product delivery as the agreed shipping schedule in the contract.
9. Buyer pays by MT103 T/T wire transfer upon SGS inspections within 5 working days of the product arrival at the Buyer’s nominated discharge port.
Seller pays commission to all involved mandates and intermediaries by T/T Wire Transfer as per the signed and agreed NCNDA/IMFPA within 3 banking days after receipt of Buyer’s payment for every shipment and the entire contract
Truly Yours,
Ashwani Tyagi
- Company Name: A&B Agro India co.
- Country: India
Send a message to this company
Please register to send a message to companies/brokers listed on our website.