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We offer today only D2 for 500.000 monthly with fixed by price 590USD per MT Export standard (Sulphur 0.02-0.05max) and
also fuel oil Mazut M100/75(Sulphur not more 0.5%) Price: FIXED 385 USD per MT.
Delivery: CIF ASWP
Payment terms: Irrevocable, Non-Transferable, Revolving, Documentary, Letter of Credit (DLC)
1. The Buyer send ICPO, Bank indorsed.
2. The Seller send draft contract.
2.1 The Buyer reviews, signs/seals the draft contract, provides Buyer code and return to the Seller
2.2 The Seller returns the duly signed contact to Buyer and provides Seller code and contract number.
3. The Seller will issue HARD COPY of the contract and meets buyer in seller office to sign and seal the hard copy face to face and shows buyer Allocation numbers in the name of the seller and transneft fee invoice that was already paid by seller and then submits the hard copies to his bank.
4. Sellers bank will contact buyers bank and begins negotiation and forwards hard copy to buyer's bank.
5. Buyer must agree to give bank commitment letter to seller bank for one million dollars (1,000,000US $) as per if buyer fails to open Non-Operative letter of credit in favor of seller after receiving the POP from seller.
6. The Seller's Bank not later than ten (10) banking days will send the POP to buyer's bank, except Chartered Party agreement and Insurance.
7. Buyer's bank not later than five (5) banking days must issue a Non-Operative, Irrevocable, NON-Transferable, Revolving, Documentary Letter of Credit to Seller's Bank.
8. Seller's Bank shall issue 2 % Performance Bond within five (5) international banking days which shall activate Buyer's Letter of Credit.
9. Seller will give out the chartered party agreement and insurance
10. The Seller shall issue the first cargo delivery confirmation and date.
11. Each Party hereto will bear its respective banking costs / charges and the Buyer shall arrange and pay the cost of confirmation by a third acceptable bank with full banking responsibility in the Event the Irrevocable, Non-Transferable, Revolving, Documentary Letter of Credit is not issued by a Top 25 Ranking World Bank. Should any amendments to the Irrevocable, Non-Transferable, auto-Revolving, Documentary Letter of Credit be requested once the same has been issued, then the Party requesting the change will be responsible for the payment of the related costs, unless changes are needed to construct the instruments in compliance with This Contract, then the costs shall be borne by the faulting party.
Inspections: Seller and Buyer mutually agree that an internationally recognized first class Independent Surveyor Company SGS shall be appointed at both designated loading and discharge ports, to assess the quality and quantity of the cargo according fee, the inspection costs to be shared 50 % Seller and 50 % Buyer as per the surveyor's invoice.
Performance Bond: The Seller's Bank will post into the beneficiary's bank account nominated by the Buyer, an Irrevocable, Revolving, Non-Transferable, Performance Bond
to cover the 2 % (Two Percent) . The format of the Performance Bond shall be in accordance with the latest ICC URDG458 (International Camber of Commerce Uniform Rules for Demand Guarantee) .
Chief of the department.