Soft LOI: Offer to buy edible Crude Sunflower Seed Oil in bulk
Rev 10 March 2008
1. Commodity and Intended Use: Crude Degummed Sunflower Seed Oil
for processing into edible oil
2. Quantity/Term: 2,500 MIN-5,000 MAX mt/month for 12 months
continuous, price fixed
3. Specifications: Typical Below
4. Packing: Bulk by ship to tank
5. Origin / Destination: Black-Azov sea ports, Ukraine, Bulgaria,
Argentina / Turkey
6. Target Price: 1100 USD per metric ton, CIF Mersin/Turkey ports
7. Contract duration: trial shipment, then one year with extensions, with
8. Delivery begins: Spring 2008, and then every 30-45 days after
opening of L/C
9. Type of payment: Each shipment, 100% by an Irrevocable, Transferable,
Divisible, Confirmed Documentary Letter of Credit (DLC),
Payment at Sight
10. Performance Bond: 2% value of L/C
11. Inspection: By SGS or equal at port of loading at Sellers expense
Crude Sunflower Seed Oil specification: typical
Pure unadulterated de waxed sun flower oil free from
Admixture with other oils.
Moisture and impurities 1.5%
Peroxide value 5 max -milli mole/kg-
Ffa (as oleic) 2% max
Refractive index (at 20c) 1.471-1.476
Titer (pour point) 16-20 c
Poly bromide test negative
Iodine value 112-135
Color -5.25 inch lovibond: 7.0 r, 30 y tinto meter-
Cloud point 8 c max
Buyers Company and Bank Information : to be provided after the
time of confirming that requirements are met.
Soft FCO with all details and producers Actual lab reports needed
prior to Buyers LOI and BCL or ICPO.
Understands that any and all offers and/or contracts are subject to
successful verification of funds, availability, and other factors.
1. On behalf of Buyer- sends soft offer to buy / LOI -above- to Seller and
Solicits a full detailed soft FCO or Offer to Sell, requiring lab reports and
certificates of past exports.
Agents protect identity of clients. Sellers may remove their identities from
partial proof of product.
2. Buyer responds to soft FCO with:
Hard ICPO or LOI + BCL with full Company and Banking disclosures and
authorizations to probe.
3. Seller issues Draft Contract/ SPA/ PSC to Buyer, and
Banks exchange Full Proof of Product for Full Proof of Funds.
4. Parties exchange hard copies of signed Final Contract.
5. Buyer issues Non-operative DLC, awaiting Sellers issuance of
6. Inspection of product, documents presented, DLC opens, Funds transfer
7. Shipment begins as per Final Contract
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