FULL CORPORATE OFFER We xxxxxxxxxxx Inc; with full corporate responsibility and authority, do hereby issue our Full Corporate Offer (FCO) for the sale of Diesel 2 (D2) Gost 305-82 on the terms and conditions stipulated below: Commodity: Diesel 2 (D2) Gost 305-82 Seller: xxxxxxxxx Origin: Russia Destin: CIF Panama Quantity: 100 000 MT (Metric Tons). Duration: 60 Months with Rolls and extensions Price Basis: NWE Platts Minus USD $20.00 / $15.00 Commissions: To Buyer expenses Terms: First Lift in Rotterdam…CIF-ASWP Panama/Houston Inspection: For Quantity and Quality must be conducted at the loading port at Sellers expense. For Quantity and Quality must be conducted at the discharging port at Buyers expense. Validity: Seven (7) banking days from the date of issuance or until the product is sold. Payment: Payment: MT103 issued to the Seller by a prime World Bank. Performance: 2% performance bond revolving for entire contract period to be submitted by Seller . . . . . . . . . . . . . . . . . . . . . . . . . . . . December 31, 2014 Page 2 PRODUCT SPECIFICATIONS Diesel 2 Gost – 305-82 RUSSIAN GAS OIL D2 GOST 305-82 COMPONENT UNIT MIN MAX Density@ 20 deg C Kg / m³ 0.870 Colour 2.0 Flash point, PMCC Deg C (°C) 62 -- Kinematic viscosity @20 C ST 3.0 6.0 deg C Pour point Deg C (°C) (*) -10.0 Cloud point Deg C (°C) (*) -5.0 Mercaptan sulphur 0.01 Acidity, mg / 1000 cm³ 5 Lodine number g/100g 6 Ash %wt 0.01 Total Sulphur %wt 0.005 0.02 Copper corrosion 3hrs@50 deg C (typical) 1 A CCR on 10% Residues %wt 0.20 Cetane index 46 Distillation range : - 50% Recovered Volume deg C (°C) 280 - 90% Recovered Volume deg C (°C 360 - Bacteria MBC Fibre / it 500 - Bacteria CFU Fibre / it 1000 (*) Summer from March to October (PP – 5.0 degrees C) Summer from March to October (CP – 0.0 degrees C) Winter from November to February (PP – 10.0 degrees C) Winter from November to February (CP – 5.0 degrees C) Ref.: FCO-112514-IGT-228KTM-LSD December 31, 2014 Page 3 PROCEDURES: 1.- Seller issues Full Corporate Offer. 2.- Buyer endorses FCO and sends back ICPO with RWA/BCL and the heretofore attached NCND+IMFPA Signed 3.- Seller sends draft contract, Buyer signs and returns to Seller. 4.- Upon acceptance of draft contract by both parties, Seller and Buyer lodge contract with their Respective banks. 5.- Buyers bank contacts Sellers bank to verify and authenticate Sellers POP. 6.- After verification of partial POP, Buyers bank sends POF/BCL via SWIFT. Sellers bank sends full POP via SWIFT to Buyers bank and copies by email to the Buyer. 7.- Buyer bank issues to Seller bank MT103 for lift-able amount and transfer title. 8.- Buyer bank then issues at sight 100% Irrevocable Transferable, Revolving Documentary Letter of Credit for remaining amount to Seller’s bank. 9 .-Sellers bank issues 2% PB to Buyers Bank via SWIFT within 24/48 hours after receiving Buyers bank payment instrument.
Posted on: Thu, 08 Jan 2015 13:50:08 +0000
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