Issued: 2020

 

SOFT CORPORATE OFFER - EN590 & D2

 

Update: March 2020

 

Basic Information

RUSSIAN DIESEL GAS OIL  & Venezuela Diesel oil

Origin : Russian Federation & Venezuela

Quantity : 50,000 MT up to 200,000 MT per Months for twelve months

Trial Quantity : 50,000 MT

Fixed Price : GROSS USD $ 410 / NET USD $ 400 (FOB) *

Variable price : NWE PLATTS - GROSS US$40/MT - NET US$30/MT - FOB (EN590)

                      NWE PLATTS - GROSS US$45/MT - NET US$35/MT - FOB (D2)

(The oil prices are not stable at the moment, and that is the reason for using Platts price and discount. March, 2020 )

Delivery Term : CIF ASWP & FOB (Test shipment or first shipment round must be FOB)

Loading Port : Sellers Option (Russian Far East Port)

* Crude oil prices tumbled on March 9, 2020 / Commodity price to be adjusted. Later release after the update.

* Buyer can use fixed prices only for spot transactions.

 

 

Procedure. FOB

1, BUYER ISSUES ICPO WITH BUYER'S COMPANY PROFILE, SCANNED COMPANY REGISTRATION CERTIFICATE AND COPY OF PASSPORT.

 

2, SELLER ISSUES SALES AND PURCHASE AGREEMENT AND COMMERCIAL INVOICE.

 

3, BUYER PROVIDES A CHARTER PARTY AGREEMENT AND Q88 DETAILS FOR THE SELLER TO ISSUE LAYCAN AND PROVIDE DIP TEST AUTHORIZATION FOR SGS INSPECTION.

 

4, BUYER CONDUCT QUALITY AND QUANTITY INSPECTION USING SGS OR EQUIVALENT INSPECTION AGENCY OF HIS/HER CHOICE.

 

4, SELLER PROCEED WITH LOADING UPON ARRIVAL OF THE VESSEL AT THE LOADING PORT. BUYER ISSUES A NON-TRANSFERABLE LC AT SIGHT.

 

6, AFTER PRODUCT INSPECTION, SELLER PROCEEDS WITH TITLE TRANSFER OF PRODUCT OWNERSHIP, CERTIFICATE OF OWNERSHIP MADE OUT TO BUYER’S COMPANY ALONGSIDE WITH THE RELEVANT EXPORT DOCUMENTS.

 

7, LOADING COMPLETE, THE VESSEL SET-SAIL TO DISCHARGE PORT.

 

8, BUYER RELEASE PAYMENT TO THE SELLER VIA TELEGRAPHIC WIRE TRANSFER WITHIN 5 DAYS AFTER THE CARGO ARRIVES AT THE DISCHARGE PORT.

 

 

info@psaoil.co.kr  &  oil@psaoil.co.kr