Crude Oil (Sellers) Published date: September 12, 2017
Modified date: September 12, 2017

D2 - OPL Singapore (50,000MT)

Dear sirs,

We, acting on behalf on the Seller without prejudice, hereby confirm that we are ready to sell the following product as per the specification and the quantity as specified in the terms and conditions as stated below : -

Product : D2 Diesel Gas Oil L-0.2-62 Gost 305-82
Country of Origin : Russian Federation
Price : USD $380/MT (including tax sales),
Quantity : 50.000 MT for First trial follow by roll and extension agreed all the parties.
Packaging : In Bulk.
Survey : SGS or Equivalent.
Term of Delivery : IPL Singapore.
Payment Term : LC (Letter of Credit).
Performance Bond : Seller & Buyer issue 2%.
Delivery Schedule : At soonest, to be provided by seller.

PROCEDURES AND OPERATION OF SELLER :
For Pumping/Cargo Submission in IPL/Storage Tank
1. The Buyer issues the ICPO (Irrevocable Corporate Purchase Order) to the Seller following the Coordinate Bank of the Buyer.

2. Seller sends the Full Corporate Offer (FCO) to the Buyer for sign and stamp and returned to the Seller within 48 hours by courier or e-mail.

3. Buyer sends the Full Corporate Offer (FCO) back to the Seller including buyer’s bank coordinate, Certificate of financial to capability of Payment, and Voyage Charter Agreement (VCA) for Seller Approval.

4. Seller sends the draft SPA (Sale and Purchase Agreement) in MS-WORD format to Buyer with Buyer’s Company Profile, Company Legality.

5. The buyer sends draft SPA (Sale and Purchase Agreement) Draft approval in PDF format to the Seller

6. Buyer - Seller set arrangement technical time meeting (TTM) for signing hardcopy documents of Sale and Purchase Agreement and Non Circumvention Non Disclosure Agreement (NCNDA / IMFPA).

7. Buyer issues Usance Letter of Credit (LC) 100% face value from contract after signed SPA within 2 x 24 hours.

8. Seller submits an official invitation letter to the Buyer for shipment schedule and cargo inspection with the agenda:
(a) Shows cargo stock and Seller Tanker location with or without Buyer inspection Officer/Independent Surveyor to verified Cargo Quality and Cargo Qualified (Q&Q) in Seller
tanker or Seller Storage Tank (SST).
(b) Shows original documents for Seller the cargo / oil.
(c) Buyer showing original Vessel Q88 and seller Vessel Contract and Transportation Agent Agreement.

9. Buyer Independent Surveyor make DIP TEST for Seller cargo, then the buyer and the loading process is then performed ship to ship loading in Seller’s terminal.

10. Buyer Independent Surveyor make seal by own after cargo completed load in vessel tanker.

11. Coordination and security costs on the receiving tank location is obligation of the Buyer.

regards
md mosleuddin

• Company Name: mum consortium ltd
• Country: Bangladesh

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