Russian – N.4 – Info – Details
SOFT CORPORATE OFFER (SCO)
Diesel Gost 305/82 Liftable at Rotterdam
|COMMODITY||Standard Diesel Gost 305/82 on a contract Basis|
|ORIGIN OF COMMODITY||RUSSIA|
|QUANTITY OF PRODUCT||200 000 MT to 500 000 MT Liftable ( Minimum first lift : 50.000 MT)|
|DURATION||SPOT 200.000MT FOB Ex Tanks at Rotterdam + 12 Months contract with R&E|
|FIRST SPOT QUANTITY LIFTABLE||( Minimum first lift : 50.000 MT) , within days of banking, terminal Tank Queue Rotation for buyer’s Lift & Load, having been arranged.|
|PRICE||NWE Platts Minus USD discount (average 3 days Platts on day of lift) INCLUDING SELLER SIDE: [CLOSED] BUYER SIDE: US$ …..00/MT [ 50% Paid to Seller mandate / 50% Paid Nilramtrading and associates]|
|DELIVERY TERMS||FOB Rotterdam Ex tank|
|PAYMENT TERMS||MT103 or TT- with SBLC instrument to guarantee the contract OR BY MT543, Procedures Having been agreed. No LC or IRDLC. Payment at loading port.MT 103 for the total cost of the product loaded on buyers vessel|
R.F.M. Russian – N.4 – Procedure
THE SELLER IS TITLE AND ALLOCATION HOLDER . . ..Mr. MARLIN
BUYER WILL TALK TO HIM AFTER A BUYER’S CP+ICPO ( see below)
For approved buyers we give in Advance:
POP programmed to the Buyer’s name as: Tank receipts, current SGS report on Quality and Quantity and the Authorization to perform a dip test … all sent via secure e-mail or certified UPS/DHL courier.
How do you become an approved buyer?
1) Buyer send a company profile (CP) + ICPO with bank details (Top 25 Bank)..
2) Conference call with: Tittle Holder, End-Buyer and one representative of the intermediaries involved.
3) We explain procedures and you prepare the bank letter that will confirm your “good standing” with your Prime Bank (top 25) and that you are capable of guaranteeing the first lift with an MT543 and to post an SBLC immediately after the first lift has been paid by normal MT103 after the dip test.
4) Seller issue an FCO.
5) This MUST COME FIRST. It can take the form of a “Statement of readiness letter” a BCL or certified “tear sheet”. It must be verifiable, signed and stamped by 2 bank officers.
6) As soon as approval is granted, you get all the information transmitted to you Bank-To-Bank.
7) We initiate and put in place the IMFPA to protect all intermediaries.
6) Then contract, full POP, dip test, first lift and execution of agreement take place.
Full procedures will discuss further by email or during the conference call with the seller.
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