Petrochemicals (Sellers) Published date: November 17, 2025

Seller issues a Sales and Purchase Agreement (SPA) to the Buyer.

Buyer signs the SPA and returns to Seller. The electronic signed copy by both Parties is considered legally binding and enforceable. Both parties deposit copies of the Agreement with their respective banks.

3. Within five (5) banking days after signing the Contract by both parties, Buyers bank shall issue in favor of the seller IRREVOCABLE, TRANSFERABLE,ASSIGNABLE, DIVISIBLE SBLC by swift MT760 to seller fiduciary bank from AAA rated bank.

Seller will within 7 days of the receipt of the SBLC MT760 issue 2% Cash bond to the buyer.(Performance Bond).

5. Seller within 15 days of the receipt of the SBLC loads the vessel and sends all the shipping documents including charter party agreement, Q88 and insurance certificate in buyers name to buyer´s bank and master issue NOR/ETA and vessel will sail to buyers port of discharge.

6. Delivery commences as per contract and shipment should arrive at buyer's discharging port within 30/45 days.

7. Within 3-5 days of vessel arrival at discharging port, buyer makes the full payment of the product by MT103 T/T against the CIQ report at the discharging port.

Each Party 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 SBLC is not issued by a Top 25 Ranking World Bank. Should any amendments to the SBLC 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.
Price $8:00 Gross per barrel
$6:00 net to buyer per barrel.
$2:00 to intermediaries per barrel.

Kindly ask us for the Sales and Purchase Agreement (SPA) if you are interested and ready to proceed. Our email address is: mail@intercontinentalagency.com.

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