Petroleum Products (Sellers) Published date: November 17, 2017
Modified date: November 18, 2017

We the EXPRESS OIL AND GAS a direct mandate to Refinery company here in Russia with allocation to Refinery seller with legal responsibility under penalty of Perjury hereby Confirm the Availability and Capability to Supply Jet fuel (Jp54-A1,5) Diesel and Fuel oil D2, D6 e.t.c for Immediate Spot and Contract sales. The Supply is guaranteed to meet the Specifications and pass through the requirements. Only direct negotiations from end buyers, representative and mandates will be considered.

TERMS & OPERATIONAL PROCEDURE SPOT CI, DIP & PAY

1. Buyer sends ICPO along with Company Profile to Seller on receipt of Seller's Soft Offer.

2. Seller issue commercial invoice (CI). Buyer signs and returns commercial invoice with Tank Storage Agreement (TSA) to seller acknowledging buyer’s legally binding commitment to Purchase under the terms and conditions herein.

3. Seller issues conditional Dip Test Authorization letter to be signed by both parties (BUYER/SELLER)

4. Seller makes final approval of the DTA and forward finalized copy with PPOP documents which includes
*. DTA (finalized copy)
*.Product Passport
*.Assurance letter to supply the available said product by the seller company
*. Sellers TSR at the Discharge Port. Buyer confirms seller TSR and order SGS to conduct Dip Test of the product in the Seller’s Tank on Buyer Expenses.

5. Upon successful Dip Test, Buyer provides vessel details or Tank details; Seller shall immediately submit the full Proof of Product (POP) to the Buyer, Injection of the product Proceeds.

6. Buyer makes 100% payment by MT103 TT wire transfer for the total product and Seller pays commission to all intermediaries involved in the transaction within 24 hours after Confirmation of the buyer's payment.

7. Seller issues draft Contract to buyer to review for R&E monthly deliveries.

8. Buyer review and approves the contract and issues SBLC/IRDLC irrevocable, Non transferable, auto revolving for 12 months’ shipment value, documentary letter of credit for length of contract and for each lift-able as schedule. Buyer pays after Dip Test by MT103 Wire Transfer on each monthly quantity.

9. The subsequent delivery shall commence according to the terms and conditions of the Contract, and mandates/intermediaries receive their commissions according to monthly Deliveries.

Best regards
Pavel Barkanov

• Company Name: EXPRESS OIL AND GAS
• Country: Russia

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