Automotive Gas Oil (AGO) 50 ppm

Product Details

PRODUCT: Automotive Gas Oil (AGO) 50 ppm

Origin: Asia (non-sanctioned)

Specifications: see Annex 1

Trial: MOQ 25,000 MT

Shipment: first shipment 25,000 MT within the SPA period upon successful trial up to 300,000 MT monthly

Contract Term: 300,000 MT monthly x 12 months with optional R & E

Capacity: 300,000 MT per month

Destination: Any safe Port

Incoterm: CIF

Inspection: SGS by Seller and Dip-Test (optional) by Buyer before injection.

Payment Terms Trial:

Irrevocable, divisible, non-transferable SBLC issued by top 50 bank.

SWIFT MT103 before loading of the vessel against transfer of ownership.

Payment Terms SPA:

Irrevocable, divisible, non-transferable SBLC issued by top 50 bank.

SWIFT MT103 before loading of the vessel against transfer of ownership.

PROCEDURE

1.

Buyer provides ICPO, CIS, trade license and company register alongside with acceptable Proof of Funds (POF) from a Top 50 bank (no African banks).

2.

Seller will verify the POF and upon approval submit signed Sales & Purchase Agreement (SPA).

3.

Buyer signs and returns SPA alongside with port agent details, ATB/NOR/ETA formats and RWA issued by his bank.

4.

Seller provides full POP documents and Commercial Invoice for the first shipment.

5.

Buyer’s bank provides revolving, non-transferable, irrevocable, and divisible SBLC for the value of one shipment.

6.

After receiving buyer’s payment for the FIRST SHIPMENT as indicated in the Commercial Invoice Seller assigns exclusive or available vessel with following cargo documents in Buyer’s name:

a) Copy of Vessel Questionnaire 88.

b) Clean and freight prepaid Bill of Lading in favour of the Buyer

c) SGS Report at loading port.

d) Certificate of Origin

e) Invoice

f) Cargo Manifest

7.

Seller transfers Title of Ownership to the Buyer and instruct Vessel Captain to move vessel to Buyer’s nominated destination port with periodic NOR/ETA to the Buyer and Buyer’s shipping agent and to discharge cargo into Buyer’s nominated storage tank.

8.

Upon arrival at Buyer’s port of discharge, the vessel captain makes an announcement to harbour in favour of the Buyer.

9.

Buyer’s shipping agent shall clear the vessel into the port and pay all port and custom charges, while the captain issues Authority to Board (ATB) to enable Buyer’s independent inspectors to board.

10.

Seller begins subsequent shipments of …….. MT x 12 months.