DUE TO CURRENT GLOBAL MARKET PRODUCT PRICE UNCERTAINTY AND FLUCTUATION PRICES ARE SUBJECT TO NEGOTIATION AND CHANGE WITHOUT NOTICE TO RESELLERS OR TRADERS! PRICES ON CONTRACTS FOR 12 MONTHS WHICH IS MANDATORY AFTER SPOT PURCHASE WITH ROLLS AND EXTENSIONS WILL BE BASED ON PLATTS (DISCOUNT) BELOW PRICING IS BASED ON SPOT (INCENTIVE) FOR CONTRACT
Commission structure: (50% Buyer side/50% seller side) Contract Term: 12 months minimum (with rolls and extensions) Payments Term: MT103, BG or SBLC via MT760
POP: Provided as per documents list in contract Inspection by: SGS/CIQ.
GENERAL FOB PROCEDURES
1. Buyer sends ICPO along with Company Profile to Seller on receipt of Seller’s Soft Offer.
2. Seller issue commercial invoice (CI). Buyer signs and returns commercial invoice with Tank Storage Agreement (TSA) to seller acknowledging buyer’s legally binding commitment to Purchase under the terms and conditions herein.
3. Seller issues Dip Test Authorization letter to be signed by both parties (BUYER/SELLER) Including Buyer’s Tank Farm for proof of the Buyer’s readiness to inject into Buyer’s Tank.
4. Seller Approve the DTA attached with fresh SGS Report and Tank receipt to Buyer and Buyer order SGS to conduct Dip Test of the product in the Seller’s Tank on Buyer Expenses.
5. Upon successful Dip Test, Buyer provides vessel details or Tank details, Seller shall immediately submit the full Proof of Product (POP) to the Buyer, Injection of the product Proceeds.
6. Buyer makes 100% payment by MT103 TT wire transfer for the total product and Seller pays commission to all intermediaries involved in the transaction within 24 hours after Confirmation of the buyer’s payment.
7. Seller issues draft Contract to buyer to review for R&E monthly deliveries.