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En590 Cif Offer

This document outlines the terms for a CIF diesel fuel transaction. It offers up to 500,000 MT per month of EN590 diesel from Kazakhstan at a price of Platts minus $90/MT gross and $80/MT net. Payment is via MT103 swift upon inspection at the discharge port. The seller provides a payment guarantee via DLC/SBLC and 2% performance bond. The transaction procedure involves the buyer issuing a purchase order and the seller providing documents including certificate of origin, bills of lading, and inspection reports, with payment released upon SGS inspection and fuel delivery.

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2K views3 pages

En590 Cif Offer

This document outlines the terms for a CIF diesel fuel transaction. It offers up to 500,000 MT per month of EN590 diesel from Kazakhstan at a price of Platts minus $90/MT gross and $80/MT net. Payment is via MT103 swift upon inspection at the discharge port. The seller provides a payment guarantee via DLC/SBLC and 2% performance bond. The transaction procedure involves the buyer issuing a purchase order and the seller providing documents including certificate of origin, bills of lading, and inspection reports, with payment released upon SGS inspection and fuel delivery.

Uploaded by

rdmnswr11
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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EN590 CIF OFFER

( Valid Till November 30th ,2023 )

Commodity: Diesel 10 ppm (EN590)


Origin Kazakhstan/ Non- Sanctioned.
Monthly Quantity: Up to 500,000 MT Per Month
Shipping Terms: CIF AWSP

Price:
NWE Platts Minus US$ 90 Gross and US$ 80 NET Per MT.
Note: Platt reference will be changed based on destination port.
Inspection: SGS, or equivalent as per Buyer’s option
Payment method: By MT103 Swift upon successful SGS At discharge port.
Payment Guarantee: By DLC MT700/SBLC MT700 with the value of monthly quantity valid
for the contract period issued OR confirmed by top 50 bank. The
DLC/SBLC will be Non-Operative to be Operative automatically by the
Seller’s 2% PB. DLC/SBLC should be Irrevocable, Transferable,
Revolving, and Confirmed issued or confirmed by one of top 50 banks.
Performance Bond: Two (2%) percent PB By Seller’s Bank.
Commission: $10 PER MT, 50% SELLER SIDE CLOSED / 50% BUYER SIDE OPEN.
To be paid by the SELLER to all intermediaries under NCNDA&IMFPA
that will be Issued by Seller.
Note Seller may requests POF from the Buyer if DD indicates So.

CIF Transaction Procedure & Terms:

1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) with this offer
terms and procedure, along with buyer’s company registration,
signatory’s passport copy, and CIS.

2. Seller issues Sales and Purchase Agreement (SPA). Buyer reviews, amends
(if necessary), signs and returns the (Draft Contract) SPA in WORD format
to Seller within Three (3) banking days for final endorsement. Then Seller
counter signs the SPA, and the SPA is logged with relevant banks. Seller signs
NCNDA/IMFPA between all intermediaries involved.

3. Within 5 Banking Days, in accordance of the Seller’s verbiage acceptable verbiage,


Buyer’s Bank issues a Non- Operative, Irrevocable, Transferable, Revolving, and

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Confirmed DLC/SBLC with full bank responsibility via swift MT700/MT760 to the
seller’s bank, and provides Seller with swift copy. The DLC/SBLC will be operative
automatically by the Seller’s 2% PB.

4. Within 5 Banking Days, Seller’s Bank issues the 2% PB, then the DLC/SBLC become
operative.

5. Within 5-10 working days, Seller provide Buyer with the following POP documents
via official email:

a) Certificate of origin.
b) Vessel Q88.
c) Copy of Bill of Loading.
d) Notice of Readiness (NOR).
e) Estimated time of arrival.
f) DTA & ATB.

6. Within 3 working days of the date of arrival of the cargo at the discharge port, buyer’s
inspection team carries out CIQ, SGS or equivalent inspection to ascertain quality and quantity.

7. Buyer’s Bank release payment for the total shipment value via swift fund transfer MT103/TT
within 2 banking days of issuing the SGS report at discharge port, then Product is discharged to
buyer’s destination port/storage facility and . Seller within 48 hours pays the intermediaries
involved according to signed NCNDA/IMFPA.

8. Second and succeeding shipments continue as per the signed contract.

SPECIFICATION OF En590, : Next Pages

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