10M D2 Houston SPOT
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gost 305 82
million metric tons
Commodity: D2 Diesel Gasoil GOST 305-82
Quantity: 10 Million Metric Tons
Delivery: FOB Houston
Inspection: SGS or equivalent
Location: Tanks and pipeline.
1. Buyer issues ICPO.
2. After Acceptance, Seller issues Draft Contract.
3. The Seller and the Buyer sign Contract.
4. Within 1 International banking day Buyer's bank confirms by SWIFT MT 799 (Bank Commitment Letter BCL template in ANNEX "B") to Seller's bank Buyer's financial capacity to perform as per terms and conditions of this Agreement.
5. Upon acceptance of Buyer's bank confirmation, Seller provides to Buyer with the verifiable and confirmable Storage Tank receipt(s) and or all on board bills of lading shipping documents including an up to date SGS certificate of quantity and quality or similar.
6. Within 1 International banking day, Buyer's Bank issues Letter of Undertaking to pay 100% of the invoiced value of goods against presentation of full set of documents as stipulated in the Payment clause herein above.
7. Seller presents full set of documents at counters of Buyer's Bank via swift.
8. Upon receiving the ownership title and pertaining documents Buyer's bank pays for 100 % of the value of the commodity by SWIFT wire transfer (MT103) directly to the Seller's designated bank account within 1 banking day.