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BVL233 / PETROLEUM - LCO / 5 MLN / BLS/MTH/CIF / BRENT PLATT /4/3/ BG- SBLC / CSHBK / SGS-CIQ/ MT103 - JAN 26TH 2021


BVL233 / PETROLEUM - LCO / 5 MLN / BLS/MTH/CIF / BRENT PLATT /4/3/ BG- SBLC / CSHBK / SGS-CIQ/ MT103 - JAN 26TH 2021

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Catalog #126615

Catagory: Petroleum Product
Dragon's Price: CONTACT US
Date Added: January 27, 2021 01:47
Page Views: 633

BVL233 / PETROLEUM - LCO / 5 MLN / BLS/MTH/CIF / BRENT PLATT /4/3/ BG- SBLC / CSHBK / SGS-CIQ/ MT103 = JAN 26TH 2021



WE FACILITATE AS AGENT ;



Please, read the offer carefully, all the information required for the Buyer to make decision to move forward has been included. The idea here was to develop a procurement method to minimize time spent on both the Buyers Side, and the Sellers Side.



So, should the Buyer decide to move forward with either of these offers please be sure they have read, and understand in their entirety the Terms & Conditions, and provide the required information on their Request .



DIRECT APPLICATION ONLY – DO NOT WASTE YOUR TIME / LOI / BANK REFERANCE LETTER / COMPANY PROFILE



Kindly issue your ICPO/LOI upon acceptance of the above transacting terms and procedures



I shall require Direct Communication via Skype



Transaction Procedure:



Buyer submits duly sign LOI on Buyer’s letterhead with full Banking Coordinate with below compliance documents include:



1.1 Letter of Intent/Contract (LOI)



1.2 Client Information Sheet (CIS)



1.3 Corporate Resolution (CR)



1.4 Non-Solicitation Statement (NS)



1.5 Non-Circumvention and Non-Disclosure Agreement (NCND)



1.6 Irrevocable Master Fee Protection Agreement (IMFPA)



1.7 Buyer Signatory and Color Copy of Passport



1.8 Buyer Certificate of Incorporation (COI)



1.9 ATV



POF / BCL / RWA



GENERAL INFORMATION



PRODUCT : Light Crude Oil (LCO)



SPECIFICATION : Light Crude Oil as per "Annex ? 1"



ORIGIN : Omani documents



DELIVERY : CIF Dalian port - (China)



TRIAL QUANTITY : 5,000,000 (Five Million)



CONTRACT QUANTITY : 5,000,000 (Five Million) Barrels per Month x 12



YEARLY QUANTITY : 60,000,000 (Sixty Million) Barrels in one year.



CONTRACT PERIOD : 12 (Twelve) Months with Rolls & Extensions



PRICE : Brent Platt Minus USD 3.00/USD 4.00 per Barrel



Important Note:



The Discount is settled for Four (4) Months. After that depends on the Trade Rate. So it changes over time within the Petroleum Prices, by means for all Four (4) Months the Discount will be settled.



COMMISSION : US$ 1.0 $ per Barrel (Seller’s side $0.5/BBL CLOSED and Buyer’s side $0.5/BBL OPEN) paid by the Seller/Buyer to Agents through NCNDA-IMFPA.



PAYMENT METHOD:



Guarantee:



Buyer issues BG/SBLC CASH BACK Irrevocable, Confirmed and Transferable in the Amount US$ 250,000,000.0 (Two Hundred Fifty Million Dollars US) of one year.



Final Payment:



At the end of each Shipment, the Bank of the Buyer, will be paid the Amount of in full without Discount withholding (apart from stated Discount above) with Swift MT103 at sight after successful Dip Test & against presentation of the Shipping Documents to Buyer’s Bank, Euros will be used when final Payment is exercised to Seller.



PERFORMANCE BOND: Seller 2% PB (Performance Bond) in favour of Buyer



INSPECTION : By SGS or CIQ or Equivalent



CLAUSE 2 – COMMODITY



2.1 Light Crude Oil (LCO)- complies in full with the Quality Specification as per "Annex ? 1"



CLAUSE 3 – QUANTITY



3.1 The total Quantity in US Barrel of the Product to be delivered during one (1) year shall be a Quantity of 60.000.000 BBL (Sixty Million Barrels) with Quality Specification as per "Annex ? 1". The Monthly contractual Quantity of the Commodity under this Deal is a Cargo of about 5.000.000 BBLS (Five Million Barrels) with the operational Tolerances of plus minus Five Percent (+/-5%) at Seller’s option.



3.2 Seller and Buyer hereby agree to deliver and accept the above Quantity in partial Shipments with reference to provisions set out in clause 9 "Annex ? 2" (Delivery).



3.3 The measurement of the Quantity of the Product and the testing of the Quality thereof shall be carried out at the Loading Terminal (Bill of Loading B/L and quality test) and the Discharge Port, in accordance with good standard practice, SGS or Equivalent, at the Loading Terminal at the time of Loading of the Cargo and in accordance with good standard practice, SGS or Equivalent, at the Discharge Port before discharge of the Cargo. The seller shall ensure that the Cargo Manifest will be issued in accordance with Good standard practice followed at the Loading Terminal at the time of Loading of the Cargo and that the Cargo Manifest is forthwith delivered to Seller and Buyer. Save for Fraud or Manifest error, the said Cargo Manifest shall be conclusive and binding on both Parties. The figures of the Certificate of Quantity as stated in such Cargo Manifest shall be used by Seller in the preparation of B/L and Invoices. The Invoice Quantity shall be based on the Quantity mentioned in B/L and cost of Crude will be written into this invoice. Buyer shall pay based on this Invoice. If in discharge Port, testing results will be done by Surveyor Company show the quantity is complying with issued invoice, Buyer shall be obliged to pay the amount value of each cargo based on PI by wire transfer SWIFT MT 103 or TT after verification of CIQ, If the Results of testing in discharge port is not complying with Invoice, any claim as to shortage in Quantity of the Cargo and/or defects in quality of the Product shall be made by written notice to Seller within three days after such apparent Shortage and/or defects are discovered at Discharge Port (initial notice). Such initial notice shall be followed by a formal written claim to Seller with all details necessary to evaluate the claim. If a formal written claim is not received by Seller within Five (5) days after Completion of Discharge, the claim shall be deemed to have been time-barred. The testing of Quality and Quantity of Cargo should be done via the same Surveyor Company at Loading and discharge Terminal.



CLAUSE 4 – TIME PERIOD



4.1 The Duration of this Contract is for a period of One (1) Year, consisting of Twelve (12) consecutive calendar Months.



4.2 The first loading time shall take place within Thirty (30) Days from workable Financial Instrument Delivery.



CLAUSE 5 – QUALITY



5.1 For the total duration of the Contract, the Seller guarantees that the Quality of the Product will conform to the guaranteed Specification indicated in "Annex ? 1" Light Crude Oil, which constitutes an integral part of this Contract.



CLAUSE 6 – PRICE



6.1 The unit price for each Barrel of the product CIF basis shall be average of the mean of PLATTS QUOTATION for “ICE BRENT B WAVE” under the heading ASIA as published in PLATTS markets can, (converted to the Daily Exchange Rate in Euros when Payment is due) per barrel calculated based on the average of Three (3) Days before, during and after date of CIQ (1 Day before CIQ date, CIQ date and 1 Days after CIQ).



6.2 EURO Exchange rate quoted by ECB reference at 16:00 Frankfurt Time accessible on Page 37 of Reuters (ECBREF).



NON-SOLICITATION



The Lessee hereby confirms and declares that the Lessor, its associates or representatives or any person or persons on its behalf has/have never ever solicited the Lessee, its shareholders or associates or representatives in any way whatsoever that can be construed as a solicitation for this transaction or for future transactions.



FORCE MAJEURE



Any delay in or failure of performance by either party of their respective obligations under this agreement they shall pay 1% as penalty.



Any delay in or failure of performance by either party of their respective obligations under this agreement shall not constitute a breach hereunder or give rise to any claims for damages if, and to the extent that such delays or failures in performance are caused by events or circumstance beyond the control of such party.



The term “Beyond the Control of Such Party “Include Lawful order of Government or Authority, Act of War, Rebellion or Sabotage, Fire, Flood, Earthquake or other natural disasters. Any other cause not within the control of such party or which is by exercise of reasonable diligence, the party will be unable to foresee or prevent or remedy.



ARBITRATION



All disputes and questions whatsoever which arises between the parties to this agreement and touching on this agreement on the construction or application thereof or any account cost, liability to be made hereunder or as to any act or way relating to this agreement shall be settled by the arbitration in accordance with the arbitration laws of the ICC.



This agreement contains the entire agreement and understanding concerning the subject matter hereof and supersedes and replaces all prior negotiations and proposed agreements, written or oral. Neither of the parties may alter, amend, nor modify this agreement, except by an instrument in writing signed by both parties. This agreement will be governed by and construed in accordance with the laws of United Kingdom. In the event that either party shall be required to bring any legal actions against the other it enforce any of the terms of this agreement the prevailing party shall be entitles to recover reasonably attorney fees and costs.









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