REBCO Crude Oil Seller, Supplier, Exporter, Manufacturer, Factory

REBCO Crude Oil
Chilescape punto cl
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REBCO Crude Oil

PRICE

The price of Crude Oil, sold under this Agreement on terms of CIF ASWP, will be calculated in U. S. dollars per barrel on the basis of the “mean” arithmetic average of 3 (three) successive quotations as published in “PLATT’S CRUDE OIL MARKETWIRE” (hereinafter “Platt’s Market Price”) for URAL MED, one day before, one day following and the day of the date of the bill of lading less a Gross Discount of USD$ 7.00 (SEVEN U. S. DOLLARS) and a Net Discount of USD$ 5.00 (FIVE U. S. DOLLARS) .

Seller shall pay USD$2.00 (Two U. S. Dollars) per barrel in commissions, to be shared equally between buyer-side agents and seller-side agents:

USD$1.00 (One U. S. Dollar) per barrel to Buyer side agents

USD$1.00 (One U. S. Dollar) per barrel to Seller side agents

In case the date of the bill of lading is a Saturday or non publication day the immediately preceding quotation shall apply as quotation.

ERMS OF PAYMENT

1. Payment for the goods sold under this Agreement shall be made in U. S. Dollars. Buyer agrees to issue ONE (1) irrevocable, transferable, divisible and assignable Bank Guarantee (BG) (or Standby Letter of Credit (SBLC) and ONE (1) irrevocable, transferable, divisible and auto-revolving (for 11 months) Documentary Letter of Credit (payable 100% at sight against the shipping documents) , in favour of Seller, to be issued or confirmed by an AA or better rated major prime international bank chosen by Buyer within five (5) banking days after both parties sign this Agreement and exchange the signed hard copies via Express Mail. The text of the BG is to be agreed between the Seller’s bank and Buyer’s bank. (Appendix No.6)

2. Buyer and Buyer’s bank agrees to issue first “Initial BG” or SBLC which shall be valid for One Year and One Day and shall be in the total amount of approximately USD$1,220,000,000.00 (One Billion Two Hundred Twenty Million U. S. Dollars) to pay for shipment of 20 million barrels of REBCO for deliveries during the first month of the Contract term, at an average price, after USD$5.00 discount, of $61 per barrel (based upon a Platt’s Market Price of $66.00 per barrel for REBCO) . This BG is payable to the Seller to cover cost of the REBCO and Seller’s transaction-related expenses (shipping, insurance, government taxes, Transneft pipeline fees, etc. ) , the BGs and such other financial instruments as may be needed to implement this Agreement.

3. Buyer and Buyer’s Bank agrees to issue a “Second BG” or SBLC which shall be valid for One Year and One Day and shall be issued not later than fifteen (15) days before expiry of the Initial BG to pay for the delivery of the second month’s shipments of 40 million barrels of REBCO for deliveries during the second month of the Contract term, at an average price, after USD$5.00 discount, of $61 per barrel (based upon a Platt’s Market Price of $66.00 per barrel for REBCO) = $2,440,000,000.00 (Two Billion Four Hundred Forty Million U. S. Dollars) for the value of the Second BG to be issued by Buyer’s Bank

4. Buyer and Buyer’s Bank agrees to issue a “Third BG” (the “Revolving BG”) or SBLC which shall be valid for One year and One Day and shall be issued not later than fifteen (15) days before expiry of the Second BG to pay for the delivery of the third (and all subsequent) month’s shipments of 60 million barrels of REBCO for deliveries during the third month of the Contract term and monthly thereafter, at an average price, after USD$5.00 discount, of $61 per barrel (based upon a Platt’s Market Price of $66.00 per barrel for REBCO) = $3,660,000,000.00 (Three Billion Six Hundred Sixty Million U. S. Dollars) for the value of the Revolving BG to be issued by Buyer’s Bank Revolving BG will continue to be re-issued or rolled-over successively every month until the entire quantities are delivered at the end of each year as stipulated in this Agreement.

5. Payment for each subsequent month after third (3rd) month shall be by irrevocable, auto-revolving documentary letter of credit (DLC) .

6. Upon confirmation of the non-operative or pre-advised BG or SBLC being posted by Buyer, Seller shall post a 2% Performance Bond which will cover all monthly shipments of REBCO paid for by the BG’s.

7. The payment to the Seller for each shipped quantity of the Goods shall be made within 3 (three) banking days from date of Arrivals of a vessel in port of unloading and presentation of the full set of the below documents.

8. Payments will be deducted or debit transfer from BG against presentation of the following documents regulating delivery and payment of the Goods:

a) Seller’s signed commercial invoices in 3 (three) original and 3(three) copies; and evidencing full price calculation.

b) Full set of 3/3 original plus 3 non-negotiable copies of the Ocean Bill of Loading made out “Clean on Board” marked “Freight Prepaid” issued to the order of Buyer’s Bank. Each Original to be originally signed by Master or Vessel’s Agent and “blank” issued or endorsed for the destination, identification of the loaded cargo with quantity expressed in BARREL.

c) 1 original and 3 copies of Certificate of Quality of the Goods issued by “SGS” or “Saybolt”.

d) 1 original and 3 copies of Certificate of Quantity of the Goods issued by “SGS” or “Saybolt”.

e) 1 original and 3 copies of Certificate of Origin of the Goods signed by Chamber of Commerce in country of origin.

f) Certificate of Insurance Coverage with payment confirmation issued by Insurance Company.

g) Vessel time sheet showing at least date of N. O. R. tendering at loading port and date of Hoses disconnection showing demurrage if any.

h) Cargo Manifest (original )

i) Master’s Receipt of one copy of all documents of the shipped goods (original)

j) Master’s Receipt (original) confirming receipt of bottles containing Arbitration Quality Samples of Goods loaded by Vessel.

k) Ullage Report

l) Tanks’ Cleanliness Certificate or Tanks’ Inspection Certificate

m) Documents for delivery by pipeline to be specified later.

The documents should be presented to Buyer’s Bank in English/Russian language within 21 (twenty-one) calendar days after date of loading completion of the Goods. Third party documents except the invoice are acceptable. All banking charges of the Buyer’s Bank shall be for the Buyer’s account and of the Seller’s Bank shall be for the Seller’s account.

PROCEDURE OF FULFILLING CONTRACT TERMS

The Parties agree to the following procedure:

The Seller issues electronic version of the contract (draft) to be signed by both parties.

Seller and Buyer exchange the signed contract via Express Mail, which shall be deemed legally binding and enforceable. The Agreements are placed in Seller’s and Buyer’s banks within 2 (Two) days after their signing.

POP and POF are exchanged simultaneously on Bank-to-Bank basis at Window, time of soft probe; Seller’s Bank sends SWIFT message (MT 199 or MT 799) to Buyer’s Bank of availability letter of Seller’s readiness, willing and able to issue Performance Bond (PB) and to provide Proof of Product (POP) . The text of Bank letter shall be per Appendix No. 8.

Upon receipt of letter of availability of POP and PB, Buyer’s bank issues the Irrevocable, Transferable NON-OPERATIVE BANK GUARANTEE (BG) or SBLC via ledger transfer or swift to Seller’s bank within five (5) banking days after exchanging the signed contract. This “Initial BG” shall be valid for One Year and One Day and be in the total amount of approximately USD$1,220000,000.00 (One Billion Two Hundred Twenty Million U. S. Dollars) to pay for first month’s shipment of 20 million barrels of REBCO for deliveries during the first month of the Contract term, at an average price, after USD$5.00 discount, of $61 per barrel (based upon Platt’s Market Price of $66.00 per barrel for REBCO) .

Seller posts 2% Performance Bond for each month’s of shipments totaling, at first, 20-million barrels per month, then 40-million barrels per month, then 60-million barrels per month thereafter of REBCO at the contract price, and provides the official “POP” proof-of-product documents to the Buyer (including readiness of the goods, letters of authorization from the relevant Russian authorities and preliminary supporting documents) , thus automatically activating the Initial, Second and Revolving Bank Guarantees (BGs) .

Seller nominates the vessel and gives to the Buyer: Ship Name, Call Letters, Captain’s Name and a copy of the Charter Party agreement.

REBCO is delivered as per Agreement.

Payment is made by deduction or debit transfer from BG in effect to Seller’s account within five (5) banking days after arrival and inspection of the goods after bill of loading documents are presented.

BG Procedures repeat for each subsequent month’s shipments, with Buyer’s Bank issuing Second BG or SBLC for $2,440,000,000.00 (Two Billion Four Hundred Forty Million U. S. Dollars) prior to second month’s shipment of 40-million barrels, and issuing the Revolving BG or SBLC for $3,660,000,000.00 (Three Billion Six Hundred Sixty Million U. S. Dollars) prior to the third month’s shipment, and all subsequent month’s shipments, of 60-million barrels of REBCO.


BLCO	BONNY LIGHT CRUDE OIL	NNPC / BLCO

SAUDI LIGHT CRUDE OIL (SLCO) API 33-34	BONNY LIGHT CRUDE OIL

Category :	Crude Oil
Related Searches :	crude oil , crude oils , rebco crude oil
Country Of Origin :	Russia
Listing Type :	Sell
Contact :	Manuel Soto Olivares
Address :	Sto. Domingo 755 Depto. 507 Santiago, Santiago, 123456 Chile
Telephone :	[56] (09) 82019170
Fax :	[56]