Russia Diesel Mazut m100/75

Product: AZERBAIJAN HEAVY FUEL OIL, MAZUT M100 GOST 10585-75
Origin: AZERBAIJAN.
Specification: based on Standard Specification see “Annex A”.
Quantity: 250,000 MT (Two Hundred Fifty Thousand metric tons) per month
Total Quantity: 3,000,000 MT (Three Million metric tons)
Destination: CIF ASWP
Duration: 12 months with rollovers and extensions as agreed by both parties.
Price: USD$310/300 per metric ton.
Guarantee: BG, SBLC, LPG or Extended Blocked Funds (BFL) for the value of 1 Month Contract value of product, valid for the duration of the contract, being 12 months + 1 day.
Payment: RDLC, TT or MT103/23 (TT & MT103/23 +$10 per MT)
Inspection: SGS or similar CIQ
Transaction Procedures
1. Buyer, Buyer Mandate and Intermediaries complete & sign NCNDA/MFPA.
Buyer details registered with Seller. On acceptance by Seller, Seller name released for Buyer’s LOI (or ICPO if Fast Track)
Fast Track: Buyer issues NCNDA/MFPA and ICPO + BCL. On receipt and acceptance by Seller, Seller issues FCO and Draft Contract.
2. Buyer sends LOI addressed to Seller liason American Global Investments & Trading, LLC
3. Seller Agent sends SCO.
4. Buyer accepts and returns signed SCO.
5. Seller issues FCO.
6. Buyer accepts and returns signed FCO.
7. Buyer sends ICPO and BCL addressed to Seller. BCL signed by 2 Bank Officers referencing the Buyer’s ICPO, stated quantity and confirmation of funds available to fulfill the order.
ICPO to contain Soft Probe Authority as authority for Seller to verify BCL/Buyer’s funds.
8. Seller issues soft copy of Contract Agreement (Draft).
9. Buyer and Seller execute Contract Agreement, lodging their signed copy with their respective banks.
10. Buyer blocks funds in own account for 60 days, equivalent to 1 months value of product. When blocked, Buyer's bank sends via SWIFT "Blocked Funds Letter" (BFL) to Seller's bank. The text format and wordings of the Blocked Funds Letter will be mutually agreed by both parties’ banks.The exact verbiage must be sent to the Seller in good time to allow the acceptance of said instruments.Failure to supply such Verbiage may extend the times stipulated in the contract.
11. Seller issues operative PB (2% of 1 month’s value of product) to Buyer's bank.
12. Seller SWIFTS to Buyer's bank, a RWA indicating POP (except Charter Party Agreement) is in Seller's bank.
13. Buyer's bank issues to Seller's bank, pre-advice via MT799 of a BG or SBLC or LPG or Extended Blocked Funds for 1 month's value of product.
14. Seller's bank SWIFTS to Buyer's bank, POP (except Charter Party Agreement).
15. Buyer's bank releases pre-advice of Guarantee instrument, made operative by MT760.
16. Monthly payment of Shipment if by RDLC; (delete if not applicable)
- Buyer's bank issues Irrevocable, Revolving, Transferable or Non-Transferable Divisible, Assignable, DLC for 1 month’s value of product, within Seven (7) International Banking Days of verified POP. This is before loading.
Monthly payment of Shipment if by TT or MT103; (delete if not applicable)
- Appropriate confirmation prior to loading and payment within Five (5) International Banking Days of delivery at destination port.
Notes:
1. Charter Party Agreement issued within 14 International Banking Days of the Allocation Number and POP reaching Seller's bank.
2. After Seller confirms BFL, Seller will start loading product within 45 working days (Worst case scenario. Usually loading within 21 – 28 days) based on confirmation of shipment payment instrument.
Note: If CIF Rotterdam (only) then DELIVERY can occur within 10-14 days of shipment payment in place. Subject to Russian MAZUT M100 GOST 10585-75 being in Rotterdam. 2nd and subsequent shipments within blocks of 30 working days/as per loading schedule.