The Banking procedures are as follows:
1.
Buyer issues an ICPO with confirmation that bank
instrument will be from top 25 world bank.
2.
Seller
issues Draft Contract which includes 5% of contract
value bi-lateral non-performance penalty
3.
Buyer reviews and signs draft contract
4.
Seller
issues signed hard copies of contract via Courier
Service and e-Mail.
5.
Buyer issues pre-advise from bank for instrument as POF.
Seller issues Partial
POP – Bank to Bank.
6.
Buyer’s bank issues Irrevocable, operative confirmed
documentary Letter of Transferable DLC, or MT103/23 by
a top 50 bank for 100% invoice value,
payable at sight against shipping documents Bank to Bank
or as agreed within the contract
7.
Upon Completion and verifications of all documents
shipment Commence.
The following documents as POP:
1.
Copy of license to export, issued by the department of
ministry energy from the refinery or the end seller of
the Russian federation
2.
Copy of approval to export, issued by the department of
the ministry of justice.
from the refinery or the end seller of the Russian
federation
3.
Copy of statement of availability of the product.
from the refinery or the end seller of the Russian
federation
4.
Copy of the refinery commitment to produce the product.
from the refinery or the end seller of the Russian
federation
5.
Copy of Transnet contract to transport the product to
the port
from the refinery or the end seller of the Russian
federation
6.
Copy of the port storage agreement
from the refinery or the end seller of the Russian
federation
7.
Copy of the charter party agreement(s) to transport the
product to discharge port.
from the refinery or the end seller of the Russian
federation
8.
Dip Test Authorization
9.
SGS Report
10.
Bill of Lading.
“SPECIFICATION OF THE PRODUCT
D2 LOW SULFUR L- 0.2 - 62 GOST 305 – 82
TEST ITEM |
Result |
Spec |
Method |
Density at 15 deg C, g/cm3 |
0.8286 |
0.815-0.855 |
ASTM D4052 |
Flash
Point PMCC. deg
℃ |
69.0 |
Min 45 |
ASTM D93 |
Viscosity (Kin) at 40 deg C. CST |
2.688 |
1.9-5.5 |
ASTM D445 |
Sulfur. mass % |
0.0006 |
Max 0.0030 |
ASTM D4294 |
Pour. Pont deg C |
-12.5 |
Max 0 |
ASTM D97 |
Cloud. Point deg C |
-9 |
Report |
ASTM D2500 |
CFPP.deg C |
-9 |
Report |
IP309 |
Color. ASTM |
L0.5 |
Max 1.5 |
ASTM D1500 |
Carbon
Residue, conradson on 10%
Distillation residue mass % |
Less than 0.01 |
Max 0.15 |
ASTM D4530 |
Ash.
mass % |
Less than 0.01 |
Max 0.01 |
ASTM D482 |
Commission:
Buyer
pays
commission
– 50%
to
seller
and
50%
to buyer sides
Destination:
CIF Rotterdam
Quantity:
500,000
MTs. Per month x 12
months,
10% liftable, all 500K in June
Date
issued:
June
03,
2011
ICPO
should
be
made
out
to:
TBA
Valid
for
five
days
from
the
date
issued.
Contract
period
required
– 1
years
Information purposes only 06-06-2011 |