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Offer to Sell |
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CAS NO: 2
Additional_detail: Rebco - 10 - 20 mil bbls x 12
CIF -6/4usd
Rebco - 30 - 50mil bbls x 12
CIF - 7/5usd
GENERAL PROCEDURE: Procedure
shall be in accordance with the
chronological procedure and
rules promulgated by the
International Chamber of Commerce
(ICC), Paris, France for the sale
and purchase of crude oil and
petroleum products.
A. The seller sends "Soft
Corporate Offer" to the Buyer.
And then, the Buyer send a
"Irrevocable Corporate
Purchase Order (ICPO)" and "Bank
Confirm Letter
(BCL)" to the Seller
B. Seller or Seller's
Mandate send Contract by e-mail
with appropriate authorized
Signature and Seal.
Seller's full banking information
to be included in Contract.
C. Buyer executes Contract
with authorized Signature and
Seal, "high-lighting" any
desired changes, and e-
mails back to Seller. Buyer's
full banking information to be
included with return
Contract.
D. Not later than seven (7)
calendar days from the date of
sign contract, Seller's Bank
forwards Proof of Product (POP)
to Buyer's Bank.
E. Within 5-10
international banking days after
receipt and verification of POP in
Buyer's Bank, the Buyer's Bank
will immediately open Pre advice
LC covering one
month shipment value of first
month shipment.
F. The Seller will issue
performance bond for amount of
2.0% of one month
shipment value to the seller's
bank, to activate the RDLC.
G. Shipment starts as per
the schedule.
The price :
PLATTS CRUDE OIL MARKETWIRE for
URAL
Discount :
Gross Discount of US$ 6.00 (Six
U.S. Dollars) per barrel
Net Discount of US$ 4.00 (Four
U.S. Dollars) per barrel
Period of the Contract: 12 months
with possible rolls and
extensions up to 60 months
Performance Bond: 2% of face
value of L/C
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