Petronas Spec Diesel D2
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high speed diesel
Origin: Malaysia, or seller's option.
Specifications: Petronas High Speed Diesel (D2) specification with sulphur 0.3% max.
Quantity: 25,000 mt (min) - 100,000 mt (max) per month.
Contract length: Twelve (12) months contract.
Price: US$ 475.00 PMT, FOB (Malaysian ports of sellers option. )
Payment Terms: by transferable, irrevocable Document Letter Of Credit (DLC) payable 100% at site. Issued by TOP 100 world banks/prime bank.
Performance Bond: 2% of DLC value placed by seller in favour of buyer.
1. Seller issues soft offer to buyer.
2. The buyer issues ICPO under hios official letterhead to the seller or his marketing agent, complete with his banking details and authorization to probe his account.
3. Upon positive verification of the buyer's financial capability(POF) , the the seller and his marketing agent issues a FCO to the buyer.
4. The buyer signs and seals the FCO in acceptance of the terms and conditions stipulated, and then returns a copy of the FCO to the seller or his marketing agent, thereafter the buyer-seller meeting shall be arranged in Jakarta, Indonesia at the seller's office.
5. During the meeting, the buyer provides the seller with his vessel and shipping agent details to have the vessel confirmed and approved by the local authorities for cargo loading.
6. During the meeting, the seller presents (for viewing purpose only) to the buyer his past performances, track record and other relevent details pertaining to the deal.
7. During the meeting , once the buyer and seller agree upon the terms and conditions, the contract will be signed and sealed at the sellers office.
8. The buyer issues non-operative DLC via SWIFT to the seller's bank.
9. Upon confirmation and clearance of the buyer's DLC, the seller places 2% PB via SWIFT to the buyer's bank, which automatically activates the buyer's DLC.
10. The seller provides buyer withallocation details and delivery schedule (POP) , thereafter the buyer collects his cargo as per the delivery schedule on FOB basis.
11. The seller negotiates the DLC with the buyer's bank for drawdown once the cargo is loaded onto the buyers vessel.
Only respond if you are end buyer or direct agent to buyer.