Ref: Max/Kh
FOB PROCEDURE
TANK TO VESSEL [TTV] AND TANK TO TANK [TTT]
SOFT CORPORATE OFFER (SCO)
To: Buyer
Dear Sir, Madam,
We, Maxwell, a company incorporated in The Netherlands, confirm that we are ready, willing and able to supply the following commodities in terms and conditions below:
Commodity 1:
|
Product Name: |
EN590 10PPM |
|
Product Quality |
Non-Sanction, Specification to be provided by the Seller |
|
Product Quantity |
100,000 MT (trial) Extensive until 300,000 MT x 12 months |
|
Duration |
Trial + 12 months on successful trial |
|
Price |
NWE Platt (Platt Code No: AAWZD00) Minus US$70.00 Per |
|
Term of Payment |
By MT103/TT for the First Lift & Standby Letter of |
Commodity 2:
|
Product Name: |
JET A1 KEROSENE |
|
Product Quality |
Non-Sanction, Specification to be provided by the Seller |
|
Product Quantity |
2,000,000 BBL (trial) Extensive until 5,000,000 BBL x 12 months |
|
Duration |
Trial + 12 months on successful trial |
|
Price |
NWE Platt (Platt Code No: PJAAV00) Minus US$6.00 Per BBL |
|
Term of Payment |
By MT103/TT for the First Lift & Standby Letter of Credit/MT760, or Documentary Letter of Credit/MT700) for 12-month contract |
Terms Commodity 1 & 2:
FOB DIP & PAY TRANSACTION PROCEDURES: (TANK TO TANK / TANK TO VESSEL
1. Buyer issues ICPO, Company Profile, CIS and sends to Maxwell with a valid CPA or TSA.
2. Buyer should issue BCL, RWA or bank statement with ATV with the name of Seller. If the buyer wants to issue MT199 or MT799 as proof of fund bank to bank, then, the seller or one of its partner issues Proforma Invoice (PI) to Buyer.
3. After verification of the Buyer’s financial capacity, the Seller issues a Commercial Invoice (CI) to the Buyer, which must be signed and stamped by the Buyer and returned to the Seller;
4. All Parties sign NCNDA-IMFPA and return to the seller for Seller’s bank endorsement;
5. Seller issues and submits the Proof of Product (POP) documents listed below on behalf of the Buyer Company;
· Fresh SGS Report, not older than 48 hours
· Unconditional Dip Test Authorization (UDTA)
· Injection Report
· Tank Storage Agreement (TSA)
· Tank Storage Receipt (TSR)
· Tank Farm Bar-Code Information
· Letter of Commitment to Supply
· Passport of the Product (Q & Q)
· Certificate of Origin Report
· Registration Certificate
6. The Buyer has 24 hours after receiving the POP documents to conduct a Dip Test in the seller’s tank. Following the test or waiver, the Buyer submits a TSR from their Tank Farm or an NOR from their Shipping Company.
7. Seller injects the product into the Buyer’s vessel /Tank.
8. Within 24 hours of product injection completion, the Buyer will make a 100% payment of the total product value via MT103/TT wire transfer, per the Commercial Invoice, to the Seller’s bank account.
9. Seller transfers the product title to the buyer.
10. The Seller disburses commissions to all intermediaries involved in the transaction.
11. The Seller issues a 12-month delivery contract for the Buyer’s review and signature. A revolving, non-transferable IRDLC/MT700, covering the value of one month’s shipment, must be issued for the contract’s full term.
Note:
- Acceptable POF includes MT199/MT799, or an updated Bank Statement/BCL/RWA + ATV addressed to seller. Proof of funds issued through a JV agreement is not acceptable.
- Bank Statements or BCL/RWA must include contact details (phone number and email) for both a bank officer and manager, and should be sent with an ATV directly to the seller email.
To expedite qualification, the Buyer may provide the following documents:
- Business License
- Import/Export License
- Environmental and Safety Licenses
- Transportation Licenses
- Financial Licenses
- Tax Registration and VAT documents
- Bank letter confirming prior transactions for petroleum product purchases
- Additional financial documents, such as audited financials or a profit and loss statement, will also support faster assessment of the Buyer’s financial capacity.
