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Dear Aliya,
Thank very much for meeting today at my home.
Details order Petroleum
M-100(75/99) Target price : Net $400-$410 CIF 2.500,000,.00 MT. Chaina port.
D2 Target price : Net $610-$ 620 CIF : 1,500,000.00MT.
Chaina port .
LNG. Target price : Net $430-440 CIF 1,500,000.00MT
Australia port.
LPG. Target price : 10,000 MT. Vietnum port.
Procedure Payment: -
CLAUSE 10 – PAYMENT TERMS
1. Buyer issue LOI or ICPO
2. Seller Issues Draft Contract Open for Amendments.
3. Buyer Counters Sign And Seals The Draft Contract And Sends Via E-Mail To Seller duly signed and sealed, within 24 hours, the draft copy will be deemed legal until hard copies exchanged after loading of the first shipment.
4. Seller issue proforma invoice to buyer
5. seller issue and Send full Proof of product (POP) to buyer’s for verification and non – operative 2%
PB to buyer bank account
6. Buyer Within three (3) banking Days, Buyer’s bank Send Swift Operative, Divisible, Covered Irrevocable and Non-Transferable Letter of Credit (LC) Via Swift MT720 to activate operative 2% PB
7. Delivery Commences as Per Contract and The Shipment Should Arrive at Buyer’s Discharge Port
8.Buyer release payment to seller bank after inspection at destination port 100% payable for each shipment within 7 banking days upon the cargo passed SGS or CIQ and receipt of all the relevant payment documents.
9. Seller pays the commission to all Agents and Mandates as per signed IMFPA
Note:-
***** Upon the agreement of the contract, seller issues the hard copies of the contract by courier to be lodged
at the counters of the buyer’s bank along side with the below listed documents;
a. Mutual Agreement Document.
b. Letter of Affirmation from the Ministry of Justice. c.
Corporate Guarantee/Addendum.
d. Attestation of Allocation from the Ministry of Energy.
e. Certificate of Origin issued and endorsed by Russian Chamber Commerce.
f. Commercial Invoice.
g. Transaction / Deal /Passport.
h.Tank Reciept / BL/Q88
**** Upon approval, the Parties Obtain the Change of Ownership and Title Documents from the
authorities in charge for the transfer of the Ownership Title from seller name to buyer name as legal
owner.
***** The Seller's Bank will send to Buyer’s Bank the notification letter bank confirmation of listed Proof of
product, and guarantee delivery of the goods with full banking responsibility via Swift or email Bank to
Bank.
9- Seller and Buyer finalize shipment schedules with the shipping company.
*******SELLER shall issues to Buyer's bank the proof of product (POP) plus 2% Performance Bond,
Which also includes the following.
a. Copy of the tank receipt issued by the storage facilitator.
b. Copy of license to export, issued by the Ministry of Energy.
c. Copy of approval to export, issued by the Ministry of justice.
d. Copy of statement of availability of the product.
e. Copy of contract to transport the Product to the Port.
f. Copy of the Port Storage agreement.
g. Copy of the charter party agreement(s) to transport the product to the discharge port.
H. Copy of ownership document.
I. DTA..
***** Buyer’s Bank issues Irrevocable Transferable Documentary Letter of Credit at sight, and the assignee
names by means of prime world ranking banks guarantee Model ICC 458 acceptable in writing by BUYER .
***** Shipment commences as per contract. BUYER releases payment to the SELLER and all Brokers/Agents
same time out-turn shipment delivered per slot via SWIFT fund transfer within 72 hours after discharge of
cargo and receipt of all the relevant shipping documents
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