Quantity: Annual Contract: min 1 million bbl. per month x 12 months.
Delivery: CIF Rotterdam ore CIF ASWP
Price : Platt’s Rotterdam CIF. Discount: net USD $3/bbl. gross USD $5/bbl.
Payment : RWA, SBLC , on the sum monthly volume delivery, term 13 months, MT 103TT.
Inspection: SGS by Quantity and Quality.
Commission: Total USD $2/bbl. . Buyer pays USD $1/bbl Seller side closed. Buyer pays USD $1/bbl. commission all intermediaries involved in the transaction on the Buyer side.
Cif Rottedam working procedure
1 The buyer sends the LOI And confirmation of the procedure to the seller.
2 The Seller issues an SCO indicating the sale Procedure. The Buyer agrees to the sale Procedure and gives the BCL and ICPO, the company name and the Buyer's letter to join the Seller. Documents must be provided or confirmed by a TOP-25 Bank.
3 The Seller confirms the Buyer’s ICPO and BCL then issues the FCO plus a contract (sales contract) which is open to make changes. The Buyer signs and returns the contract in a text document.
4 The Buyer issues the swift MT 799 RWA confirmation after receiving the signed contract from the Seller. MT 799 is an email confirmation that will be sent by a Bank employee to a Bank employee.
5 The Seller issues a verifiable PPOP, which will consist of the following documents:
a) Certificate of origin;
b) Obligations of oil refineries for deliveries.
6 The Buyer issues SBLC for the amount of the monthly delivery and a period of thirteen months, via swift MT-760. A document to be issued from or confirmed by a TOP-25 Bank.
7. The seller's Bank verifies the correct use of the SBLC MT760 and the Seller sends the following documents to the buyer after 20 days, and then every 20 days:
a) The product passport;
b) The SGS report.
8 The Buyer provides the tanker or agrees with the Seller's tanker. The Buyer must provide the address and number of the storage facility in Rotterdam.
9 The Seller accepts and loads the tanker on behalf of the buyer and insures the cargo after the buyer receives the goods, pays for the loaded volume of goods (MT-103TT) within 24 hours.
10 Upon conclusion transaction commissions Seller' side closed, and Buyer pays USD $1/bbl. commission all intermediaries involved in the transaction on the Buyer side.
Work under the contract is only possible with the use of SBLC as a guarantee. All necessary details and conditions between the parties are discussed at the Draft Contract stage.