D2, DIESEL GAS OIL / EN590 FOB

Price USD  Gross/ 350 Net $340 

FOB First trial 100,000 MT 

Contract: 200,000 MT X 12 months 

AVIATION JET FUEL/JP54 FOB

Price USD $74 Gross /$70 Net 

FOB First trial 1,000,000 BBLS 

Contract: 2,000,000 BBLS X 12 months

D6 DIESEL OIL / Naphtha FOB

Price USD $0.78 Gross/ $0.74 Net 

First trial 100,000,000 Gallon  

Contract: 200,000,000 Gallon X 12 months  

PROCEDURE

1. The buyer issues the ICPO, TSA and company registration certificate.

We understand that any offer and/or contract is subject to positive verification by the public refinery of the buyer's availability of funds. The buyer hereby gives written permission to the public refinery's bank to conduct a soft probe of the buying company's bank account and the buyer's bank will be notified of the buyer's verification. 

The company signing ICPO must ask its bank for proof of bank funds signed by the director on letterhead.

2. The seller issues the draft contract, the commercial invoice (CI), the buyer signs and returns it to the seller for further proceedings.

3. Seller issues Dive Test Authorization (DTA) and Physical Verification Authorization (ATV), which must be signed by all parties, including buyer's tank farm.

4. The seller sends the following PPOP document to the buyer

A. Tank Storage Receipt (TSR)

B. Injection report

C. Dive Test Authorization Letter (DTA): Unconditional for 5 days.

D. Authorization for Sale and Collection (ATSC)

E. New SGS report

F. Authorization for Physical Verification (ATV)

G. Analysis for the assessment of the Products.

5. Buyer performs DIP Test on the product at the seller's rented tank and inserts the product into the buyer's tank and makes payment for the total value of the product injected into the seller's tanks via MT103-TT.

6. The seller pays the mandates of his intermediaries and the buyer pays the commissions to his intermediaries which do not fall between GROSS and NET prices.  

Thereafter the monthly shipment continues according to the terms and conditions of the sales and purchase contract between buyer and seller.

D2 DIESEL GAS OIL / EN590

CIF Price USD Gross/ 350 Net $340

First trial 100,000 MT

Contract: 200,000 MT X 12 months

AVIATION JET FUEL/JP54

CIF Price USD $74 Gross /$70 Net

First trial 1,000,000 BBLS

Contract: 2,000,000 BBLS X 12 months

D6 DIESEL OIL / Naphtha CIF

CIF Price USD $0.78 Gross/ $0.74 Net

First trial 100,000,000 Gallon

Contract: 200,000,000 Gallon X 12 months 

BITUMEN

Price $450/$440 MT

First trial 100,000 MT

Contract: 200,000 MT X 12 months

UREA

Price $350/$340 MT

First trial 100,000 MT

Contract: 200,000 MT X 12 months  

PROCEDURE

1. BUYER ISSUES ICPO, COMPANY REGISTRATION CERTIFICATE AND PASSPORT COPY OF THE SIGNATORY TO SELLER AND UPON CONFIRMATION AND VERIFICATION.

We understand that any offer and/or contract is subject to positive verification by the public refinery of the buyer's availability of funds. The buyer hereby gives written permission to the public refinery's bank to conduct a soft probe of the buying company's bank account and the buyer's bank will be notified of the buyer's verification. 

The company signing ICPO must ask its bank for proof of bank funds signed by the director on letterhead.

2. SELLER SENDS OPEN DRAFT SPA TO BUYER FOR REVIEW, BOTH PARTIES ENDORSES THE FINAL CONTRACT AND BUYER SIGN AND SEND IT TO SELLER ALONG WITH COMMITMENT LETTER TO PERFORM, SELLER NOTARIZE THE CONTRACT WITH THE MINISTRY OF ENERGY AND SEND TO BUYER IN PDF FORMAT.

3. SELLER AND BUYER APPOINTS AND SIGNS CHARTER PARTY AGREEMENT WITH THE SHIPPING COMPANY THAT WILL TRANSPORT THE PRODUCT TO THE DISCHARGE PORT.

4. SELLER SENDS PARTIAL PROOF OF PRODUCT DOCUMENTS (PPOP)

A) STATEMENT OF PRODUCT AVAILABILITY

B) COMMITMENT TO SUPPLY

C) PASSPORT ANALYSIS Q & Q REPORT DONE BY INDIGENOUS LAB (PRODUCT PASSPORT). 

D) Passport analysis Q&Q report done by indigenous lab (product passport)  

5. Both parties agree on the shipping logistics schedule date with the appointed shipping company, (an international company). The public refinery pays the first 50% of the shipment and then pays the buyer the other 50%. The total amount of the shipment is quoted by the shipping company from time to time and per destination. When the refinery gets the payment receipt, then the injection permit, it loads the product into the vessel and the shipment starts to the buyer's destination as mutually agreed by both parties. 

Upon payment of the product, the buyer will be refunded 50% of the cost of the ship's journey. 

6. UPON SUCCESSFUL LEASING AND LOADING OF THE VESSEL/CARRIER, SELLER ISSUE DIP-TEST AUTHORIZATION (DTA) AND SENDS THE REMAINING PROOF OF PRODUCT (POP) AND SHIPPING DOCUMENTS TO BUYER AS LISTED BELOW

A). BILL OF LADING,

B). Q&Q INSPECTION REPORT, “AS PER THE RUSS STANDARD GOST R”

C). ENDORSED CPA “CHARTER PARTY AGREEMENT”

D). CERTIFICATE OF ORIGIN

E). VESSEL’S Q88 AND ETA

F). INJECTION REPORT.  

G).CERTIFICATE OF INCORPORATION  

7. UPON ARRIVAL OF VESSEL AT PORT OF DESTINATION, BUYER CONDUCT INSPECTION AND DIP-TEST AT THE DISCHARGE PORT, AFTER SUCCESSFUL INSPECTION AND UPON CONFIRMATION OF PRODUCT BY SGS BUYER RELEASE PAYMENT TO SELLER’S BANK WITHIN 5 BANKING DAYS.

8. SELLER RELEASES ALL OTHER DOCUMENTS OF PRODUCT TO THE BUYER AND TRANSFERS THE PRODUCT TITLE TO BUYER.

9. the seller pays the commissions of his intermediaries and the buyer pays the commissions to his intermediaries which do not fall between GROSS and NET prices. 

D2, DIESEL GAS OIL / EN590 

Price USD  Gross/ 350 Net $340

First trial 100,000 MT  

Contract: 200,000 MT X 12 months

AVIATION JET FUEL/JP54  

Price USD $74 Gross /$70 Net   

First trial 1,000,000 BBLS  

Contract: 2,000,000 BBLS X 12 months

D6 DIESEL OIL / Naphtha 

Price USD $0.78 Gross/ $0.74 Net  

First trial 100,000,000 Gallon   

Contract: 200,000,000 Gallon X 12 months  

PROCEDURE

1. The buyer sends an ICPO to the seller mandate along with CPA/TSA.

We understand that any offer and/or contract is subject to positive verification by the public refinery of the buyer's availability of funds. The buyer hereby gives written permission to the public refinery's bank to conduct a soft probe of the buying company's bank account and the buyer's bank will be notified of the buyer's verification. 

The company signing ICPO must ask its bank for proof of bank funds signed by the director on letterhead.

2. Seller issues Commercial Invoice (CI), buyer signs and returns the signed invoice back to seller via electronic email.

3. The Seller and buyer sign the escrow agreement (The buyer is welcome to visit the ESCROW Attorney offices in the USA optional). And each party deposit 5% of the nominal cost of the product for Performance guarantee.

Either party that defaults forfeit the 5% deposit to the offended party.

4. Buyer upon verification of the BELOW product POP, Buyer presents the tank storage receipt (TSR) or Q88.

a. CERTIFICATE OF ORIGIN

b. TANK STORAGE RECEIPT (TSR) WITH GPS COORDINATES)

c. AUTHORIZATION TO VERIFY (ATV)

d. INJECTION REPORT SHORE TANK IN FOB LOADING PORT TERMINAL

e. SGS ANALYSIS REPORT INSPECTED IN FOB LOADING PORT TERMINAL

f. AUTHORIZATION TO SELL (ATSC)

5. Buyer conduct Dip Test in Seller’s tanks, Seller injects into buyer’s vessel tanker.

6. Buyer makes the payment for total value of the product deducting the 5% deposit to the escrow via MT103-TT.

7. Upon seller receives the payment for the product, the seller pays the commissions of his intermediaries and the buyer pays the commissions to his intermediaries which do not fall between GROSS and NET prices.