Dear Sir/Madam,
We need 4 mln barrels of crude oil a month x 12 months.
We also need up to 1.0 mln MT of D2 Gas Oil a month x 12 months.
Short contract procedures:
1. SPA
2. Within 3 banking days the Seller issues POP (Proof of Product)
to the Buyer's Bank by Swift MT 799 only, issued /confirmed by
International First Class Bank.
3. Then, within 7 banking days Seller's Bank sends 2% PB to
Buyer's Bank in favor of Buyer, issued and confirmed by International
First Class Bank, and simultaneously the Buyer issues a non-operative
revolving documentary letter of credit in favor of the seller covering one
month's volume.
4. CIF delivery
5. Q&Q
6. Full payment
Payment conditions: Irrevocable, Revolving, Non-Transferable Documentary
Letter of Credit, the covering one month?s volume.
Thanks and Regards
date_range Jan 18' 2019/ Turkey
date_range Nov 27' 2018/ Australia
date_range Jun 18' 2018/ Australia
date_range Nov 28' 2017/ India
