QUANTITY: 1 MILLION BARRELS X 24 MONTHS
TERMS: CIF, ROTTERDAM PORT
TARGET PRICE: NWE PLATTS MINUS US$ 5.50/BARREL NET
Buyer's mandated Attorney will conduct DD on Seller's Company if real and has capability to supply us 2,000,000 bbls x 36 Months.
Buyer does not accept any Russian Banks from which POP will be sent by MT799 to buyer's HSBC Germany account that will respond with RWA by MT799 as well.
Buyer accepts Western Prime Top Banks 10-30 from Seller to send POP by MT799 and buyer responds by RWA by MT799 from HSBC Germany. Buyer will not issue RWA upfront without POP.
Procedure – RWA
1.0. NOMINATIONS, SHIPMENT & BANKING PROCEDURES
1.1. Seller issues draft contract, signed and sealed by him to the Buyer.
1.2. Buyer sign, seal and return to Seller with SPA lodged to Buyer's Bank. Seller lodge the same with his Bank. The electronically signed and sealed contract is legally binding and enforceable.
1.3. Within three (3) banking days of the receipt of the executed contract the Seller’s Bank delivers by MT 799 the RWA plus pro-forma Commercial Invoice (CI) supported with Platt’s price daily quote to Buyer’s bank
1.4. Within three (3) banking days from receipt of the Seller’s Bank RWA the Buyer’s Bank responds with RWA stating their readiness to issue operative DLC of the CI value which will make PB activated automatically.
1.5. Within three (3) banking days of the receipt of this contract the Seller’s Bank will send to the Buyer’s bank by courier mail under banking responsibility (in bank to bank system) the copies of Proof of Product documents stating in cover letter that the verified originals are at their custody including the pro forma Commercial Invoice supported by Platt’s daily issue plus pre-advise 2%Performance Bond. The copies of such set Seller delivers by e-mail to the Buyer including the Bank courier’s tracking number, to speed up the final verification process.
1.6. Within three (3) banking days from receipt and successful verification of the POP documents, the Buyer’s bank responds to Seller’s bank with operative DLC which activates the 2%Performance Bond automatically.
1.7. The Seller within five (5) banking days confirms acceptance of Buyer’s DLC, nominates a vessel and notify the Buyer for acceptance.
1.8. Within 3 (three) banking days of the vessel’s acceptance by the Buyer, the Seller provides the electronic copies of the ASPATANKVOY Charter party agreement, available shipping documents and information on the loaded Cargo vessel for the buyer’s independent check as to the form of issue.
1.9. Upon confirmation of shipping documents’ approval by the Buyer as issued in correct way by the Seller, the loaded ship sets off sailing to Buyer's Destination.
1.10. Upon Vessel arrival at Destination, the Cargo shall be inspected by the Buyer's designated inspectors for Q & Q and product verification before the Cargo shall be discharged.
1.11. Upon Verification and confirmation of the product after full discharge, the Buyer’s Bank shall settle payment with the Seller’s Bank by charging DLC against the shipping documentation as per contract.
