Commodity: DIESEL 2
Quantity: 10 MILLION TM per month.
Quality: (Seller attached specification in Draft Contract)
Destination: FOB Rotterdam/Valadivostok or other Port.
Contract duration: 12 months with possible roll extension.
Modality contract: FOB.
Price: 400 GROS 380 NET
Payment document: MT 103/23 per month.
Performance Bond: 2 % of Performance Bond for the value of the Financial
Instruments.
Inspection: SGS for Quantity and Quality at loading and destination port.
Lift Able: 2% required at destination port.
TRANSACTION PROCEDURE:
ICPO TO DPS ENTERPRICES /INC
ATENCION JAMES SCANDALIS
1. Buyer sends ICPO with bank details and Authorization for Soft probe Bank to
Bank (This document. Plus the NCNDA/IMFPA. (Signed per Buyer).
2. Seller sends Draft Contract to buyer in 48 hours after the reception of the ICPO
+NCNDA/IMFPA, to be signed, sealed and returned with the corrections if any.
3. Buyer and Seller signs and seals confirming by electronic signature and this
contract hold and Remains valid until hard copies are exchanged, and the
NCNDA/IMFPA returns signed forthe Seller merge into the contract.
2
4. In the next three to eight banking days, four notarized hard copies must be sent
from the seller to the buyer. Once the buyer receives the documents they will be
signed and two copies will be returned to the seller.12/
5. Buyer issues in favor to the seller the MT103/23. The document must state that
it is divisible, non operative and transferable for the value of the product (these
letters would be used in refinery, later in draft contract would be mentioned the
refinery name). Seller sends into three banking days to Buyer´s Bank a POP with
document includes as follows:
5.1. Copy of the Export License,
5.2. Copy of the Storage License
5.3. Copy of bank Swift POP confirmation for delivery.
5.4. Copy of the refinery Commitment to produce the product.
5.5. Copy of statement of availability of the product
5.6. Tank Receipts and SGS.
6. After the buyer verifies the POP (in no more than 24 Hours), the buyer´s bank
must issue a MT103/23 operative to the seller´s bank, as payment for the
shipments. They must additionally issue and send to the operative seller´s bank
the “ARDLC” (Auto Revolving Documentary Letter of Credit). This transaction
must not take more than 7 banking days. The documents must be
Operative, Irrevocable, Transferable, Divisible and Cash backed (these letters
would be used in refinery, later in draft contract would be mentioned the refinery
name).
7. After the Financial Instruments are full operative the Seller Issues the PB
(Performance Bond), for 2% within 5 banking days.
8. Shipment commences as agreed in the contract.
