D2 and Mazut
1. PRODUCT: D2 and M-100
2. QUANTITY: 500,000 x 12months
3. ORIGIN: RUSSIAN FEDERATION
4. DELIVERY SIZE & SCHEDULE BUYERS OPTION
5. MODE OF PAYMENT: MT-103
6. PRICE AND TERM: TBD- D2 is in Mid to low 500's, Mazut Low 400's.
7. DESTINATION PORT: TBD
8 INSPECTION: SGS CURRENT
9. QUANTITY IN TANKS: 500,000 METRIC TONS, OR MORE.
Payment for the products sold under the Contract is to be made Secured in US Dollars by Irrevocable, Confirmed, Non Operative, Non Transferable and Automatically Revolving DLC (RDLC) of 100% value Payable at sight from a top world 25 Prime Bank or AA+ Rated Bank acceptable by the Seller's Bank as payment for Every Shipment
Seller will issue draft contract for buyers review.
Buyer signs and seals the draft contract and returns to seller
Seller signs and seals the draft contract and returns to buyer.
Both Parties lodge contract in respective Banks and Buyer opens/issues RDLC
After signing the contract Buyer's bank not later than five (5) banking days will SWIFT an Irrevocable, Confirmed, Non Operative, Non Transferable and Automatically Revolving DLC (RDLC) to Seller's Bank. (And send a copy of the Swift message to Seller Mandate)
Within 10 banking days after, Seller's Bank shall SWIFT the 2% Performance Bond which will immediately activate the RDLC and within 7 days after that full POP, bank to bank
Days mentioned above are maximum days , usually it would be earlier than that.
PROCEDURES ABOVE MAY BE SUBJECT TO SOME NEGOTIATION WITHIN REASON
