TRANSACTION DELIVERY TERM FOR OIL DERIVATES ON DIP & PAY BASIS
- Delivery: FOB PORT OF ROTTERDAM/CI DIP&PAY.
- Pricing: PLATTS minus Discount (gross/net). Please NO Fix-Price-Offers.
- Quantity: We buy from 250.000 Barrels per Spot or with contract per month. Sweetspot is 1-2 Mio. Barrel per Spot or per month.
- Quality: ACTUAL required Quality in Jet Fuel is MAINLY "Jet Fuel A1"
WE WORK WITH THE FOLLOWING STRAIGHT AND FAIR TERMS, ACCORDING TO AGREED INTERNATIONAL STANDARDS
- Buyer issues LOI.
- Seller issues FCO.
- Buyer signs and returns FCO.
- Seller issues CI with Tank farm details and provides ATV.
- Buyer signs and returns CI.
- Seller issues fresh SGS Report max. 48hours old, with Tank Receipt, Tank Storage Agreement, Product Passport issued by SGS, Injection Report, Certificate of Origin and Dip Test Authorization (DTA).
- Upon the successful verification of the PPOP by the Buyer, Buyer orders SGS to conduct the Dip Test of the product in the Seller Tank on Buyers expense.
- Upon successful Dip Test by the Buyer, Buyer makes immediately 100% payment by MT103 TT wire transfer for the total product.
- According to usual agreements, Seller pays commission to all intermediaries involved on the Seller side and Buyer pays commission to all intermediaries involved on the Buyer side in the transaction, 24 hours after confirmation of Buyers payment.
- Upon successful Dip Test and payment, Buyer provides vessel details or Tank details for injection of the goods.
- Buyer issues SBLC/IRDLC irrevocable, auto revolving for one year, documentary letter of credits for length of contract and for each lift per schedule.
- Buyer pays after Dip Test by MT 103 wire transfer on each delivery.