Modified date: January 10, 2020
Date : january 10th 2020
To : Whom it may concern
LETTER OF INTENT
We, HERRY IMPEX, firstname.lastname@example.org, +261340842943, with full corporate legal authority and under penalty of perjury, hereby confirm our interest and are ready, willing and able to purchase crude oil as describe below with clean and clear United States Dollar (USD) funds free of criminal or terrorist origin or influence :
Commodity : Crude oil (Standard Export quality)
Country of origin Any
Buyer’s currency : United States Dollar (USD)
Quantity : 20 million (20,000,000) barrels per month with positive or negative operational tolerance of 5 percent (+/-5percent)
Term of contract : 12 months with possible extensions/roll over
Quality : Any
Inspection : SGS, or equivalent
API GRAVITY ______
SEDIMENT CONTENT ______
ASTM STABILISED GRAVITY ______
WAX WT PERCENT ______
VANADIUM PPM V200 ______
GROSS HEATING VALUE ______
REID VAPOUR PRESSURE ______
SALT CONTENT, PPM NaCl ______
SULPHER, WT PERCENT ______ MAX
ASH, PPM ______
COMP, CARBON RESIDUE, WT PERCENT ______
VISCOSITY, CP ______
POUR POINT ______
Price FOB : The price sall be determined to the average of 3 (three) days around the B/L date (the day before, the day of the bill of lading and the day after), under the heading of the China Platt Minus and discount of USD15 per each barrel of Crude oil supplied. This price, shall be applicable for the full term of the contract, one year (1 year) and total quantity of 240,000,000 BBLS (Two hundred forty million barrels).
Discount : Gross : per barrel of crude oil
Net : per barrel of crude oil
Loading port : Any
Delivery terms : FOB, Any ports.
Payment : Shall be by irrevocable, confirmed, Documentary LC
Performance bond : In case the QC control is not acceptable, or supplier doesn’t on time within 45 days, supplier must pay 2 percent Performance Bond penalty.
Banking information :
1. Buyer issues LOI
2. Seller provides Full Corporate Offer (FCO)
3. Upon receiving FCO, buyer is to sign and seal on every page of FCO. Buyer prepares ICPO, BCL and Letter of Authorization to Verify Assets (All original) together with the signed and sealed FCO within the FCO’s validity period. On the other hand, Buyer is to issue the Irrevocable Master Fee Protection and Pay Order Agreement (IMFPA) fully endorsed by its bank. This IMFPA is an additional part of the original contract.
4. Buyer and seller meet to exchange all respective original documents.
5. Buyer gives to seller ship’s name, call letters, captain’s name (all to be included in the Letter of credit text,) and a copy of the Tanker Voyage Charter Party Agreement from an internationally recognized chartering company marked “Freight Pre-paid.”
6. Buyer issues Letter of Credit which include the vessels particulars.
7. Buyer takes delivery in an appropriate port of shipment.
8. Buyer pays commissions as per IMFPA (Irrevocable Master Fee Protection and Pay Order Agreement).
- Company Name: HERRY IMPEX
- Country: Madagascar
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