To all safe worldwide ports
\nOrigin of products: Kazakhstan. Supplier: direct Kazakhstan Refinery<\/p>\n
ULSD 10 ppm EN590\t\tmonthly quantities: 20,000 to 300,000 MT
\nJet A1 \t\t\t\tmonthly quantities: 500,000 to 3,000,000 Bbls
\nLight Cycle Oil\t\t\tmonthly quantities: 20,000 to 300,000 MT
\nLNG\t\t\t\tmonthly quantities: 20,000 to 300,000 MT<\/p>\n
1.\tOnce Buyer\u2019s agreement with this current Transaction Procedure is confirmed, a preliminary NCNDA is established and Buyer issues ICPO containing the Seller’s working procedure, CIS or detailed Corporate Profile, photo page passport copy and Certificate of Incorporation to Seller.<\/p>\n
2.\tSeller issues the Sales & Purchase Agreement (SPA) draft Contract for the Buyer\u2019s review; the draft Contract must be duly endorsed and returned by the Buyer with a Letter of Undertaken to perform obligations under the Contract.<\/p>\n
3.\tSeller approves the signed Sales & Purchase Agreement (SPA) draft Contract, for official notarization with the relevant government ministries. After which, Seller issues the partial proof of product and other documents as follows:
\na) Pro forma Commercial Invoice as confirmed and approved by Buyer
\nb) Statement of product availability
\nc) Allocation Letter\/Refinery Commitment
\nd) Sample of the Fully Funded SBLC (STANDBY LETTER OF CREDIT MT 760) or BG (BANK GUARANTEE MT 760) to be issued by Buyer, accepted and approved by Buyer’s Bank
\ne) ICC Warning Letter
\nf) Final NCNDA\/IMFPA<\/p>\n
4.\tThe Buyer\u2019s Bank, within 72 (Seventy-Two) hours, issues the pre-advice (RWA) in the form of MT799\/MT760 via SWIFT to the Refinery nominated fiduciary Bank with the agreed wordings and texts. The text of the BG\/SBLC to follow should state the validity for 12 months in the amount of the average monthly deliveries, with the price calculated according to agreed discount from the date of issuance of the Commercial Invoice. After the acceptance of the wordings, texts and formats, within 7 (Seven) banking days the Buyer Bank issues BG\/SBLC in the form of MT760 via SWIFT to the refinery nominated fiduciary Bank.<\/p>\n
5.\tIn a situation where the Buyer is not able to issue a BANK GUARANTEE (BG) \/ STANDBY LETTER OF CREDIT (SBLC) within 7 days, Buyer would make a provisional payment of USD $185,000 by MT 103\/ T\/T Wire transfer to enable Seller to conduct allocation and loading of the product in accordance with the shipping and delivery schedule. It is important to note that Buyer is mandatorily required to either issue a BANK GUARANTEE (BG) \/ STANDBY LETTER OF CREDIT (SBLC) or issue a provisional payment of USD $185,000 via wire transfer to Seller before the process of loading the product into the Vessel, and subsequent sailing of the Vessel to Buyer’s discharge port. The Contract would be unilaterally cancelled in the event that Buyer fails to perform its contractual obligations as defined herein.<\/p>\n
6.\tUpon Buyer\u2019s compliance and fulfilment of contractual obligation in accordance with the terms and conditions of the signed Sales & Purchase Agreement (SPA), Seller shall commence and complete loading of the product and shipment arrangements within 14 to 21 days after compliance, and confirmation of Buyer\u2019s BG \/ SBLC at Seller\u2019s fiduciary Bank, after which Seller shall send the full shipping documents to Buyer via registered courier mail prior to departure of vessel to the Buyer’s designated discharge port.
\nThe documents are: <\/p>\n
a) Copy of the beneficiary\u2019s unpaid final Commercial Invoice, duly signed
\nb) Certificate of Quality and Quantity issued by SGS, Intertek, Saybolt or equivalent
\nc) Full set of Bill of Lading (3 original copies)
\nd) Vessel Notice of Readiness (NOR)
\ne) Marine Insurance Certificate
\nf) Ullage report
\ng) Cargo Manifest
\nh) Vessel Q88
\ni) Certificate of Origin
\nj) IMO registration information<\/p>\n
7.\tWithin 21-30 days, upon arrival of the product at Buyer’s destination port, the Buyer conducts Inspection of the product by SGS or similar at Buyer expense, and Buyer transfers the outstanding payment MT103 for the Seller\u2019s Commercial Invoice and with respect to the Q\/Q Reports issued at the port of loading and shipment. Seller transfers title and ownership documents to the Buyer.<\/p>\n
8.\tSeller pays commission to intermediaries as per IMFPA having received the full payment for the product within three (3) banking days.<\/p>\n
————————————————– End of Transaction Procedure——————————————–<\/p>\n
IMPORTANT NOTES:
\nSeller can deliver:
\n\u2022\t JET A1 at fixed prices currently equivalent to an average discount to Platts between 15% and 20%; ULSD 10 ppm EN590, Light Cycle Oil and LNG at fixed prices currently equivalent to an average discount between 20% and 30%.
\n\u2022\tFinal Price is provided to a confirmed Buyer and will depend on product, delivery port, quantity and specifications.
\n\u2022\tThe standard template for the ICPO to be issued on the Buyer\u2019s letterhead is attached as Annex 1. Following a preliminary NCNDA, Vox will pre-fill and send the ICPO template to the Buyer side with the filled information pertaining to the specific transaction.
\n\u2022\tOnce documentation mentioned in Paragraph 1 is provided and reviewed by Seller, a conference call may be established if required, between the End Buyer and the direct Seller. Intermediary parties can attend this call.
\n\u2022\tSeller will do only 12 months Contract (No spot deals).
\n\u2022\tConsultancy fees for Seller side and Buyer side intermediaries are included in the price paid by Buyer and are transferred by Seller to the intermediary parties. Seller side of consultancy fees is closed and includes the Vox team and other seller side parties. Available consultancy fees are to $1 per barrel for Jet A1 and $5 per MT for EN590, LCO and LNG, fully open for sharing among the buyer side intermediaries. <\/p>\n
ANNEX 1 (TEXT OF THE TRANSACTION PROCEDURE<\/em>)<\/p>","protected":false},"excerpt":{"rendered":" To all safe worldwide ports Origin of products: Kazakhstan. Supplier: direct Kazakhstan Refinery ULSD 10 ppm EN590 monthly quantities: 20,000 to 300,000 MT Jet A1 monthly quantities: 500,000 to 3,000,000 …<\/p>","protected":false},"author":4,"featured_media":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"helpie_faq_category":[186],"helpie_faq_group":[],"class_list":["post-3729","helpie_faq","type-helpie_faq","status-publish","format-standard","hentry","helpie_faq_category-uncategorized-faq"],"yoast_head":"\n
\nICPO TEMPLATE
\nON BUYERS’ LETTERHEAD<\/strong>
\nDATE:
\nTO: (Seller Rep)
\nCC: ops@vox-oil.com – Seller representative\/Referring Broker
\nCC: xxxxxxx \u2013 Referring Broker
\nCC: xxxxxxx. \u2013 Referring Broker
\nFROM: (Buyer)
\nIrrevocable Corporate Purchase Order
\n(or Letter of Interest to Purchase)
\n(BUYER) is domiciled in (COUNTRY) operating in good standing with our Government. We confirm that
\n(BUYER COMPANY) are ready, willing and able to purchase the following commodities;
\n1. BUYER: xxxx
\n2. COMMODITY: xxxx
\n3. CARGO ORIGIN: (Any OR Non-sanctioned OR Specific country)
\n4. QUANTITY: xxxx MT\/Bbls trial shipment and xxxx MT\/Bbls per Month for 12 Months
\n5. TARGET PRICE: Equivalent to xx% discount to the applicable Platts
\n6. TOTAL BROKER FEES: $xxxx per Metric Ton\/Bbl, included in the price and agreed upon, accepted by Buyer
\n7. DELIVERY PORT: xxxx
\n8. RECEIVING TERMINAL: (Name of receiving tank farm\/terminal at the delivery port)
\n9. SPECIFICATIONS: ATTACHED Requested Specs Sheet
\n10. PAYMENT TERMS: Bank Wire After Delivery
\n11. TOP 100 BUYER\u2019S BANK: xxxx
\nBUYER\u2019S NAME\/COMPANY:
\nREPRESENTED BY\/POSITION:
\nADDRESS:
\nEMAIL ADDRESS, TELEPHONE:<\/p>\n