FOB delivery ports: Rotterdam, Fujairah, Jurong
\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<\/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 and CPA with a reputable tanker company, for the Seller\u2019s approval.<\/p>\n
2.\tSeller issues Commercial Invoice (CI), Buyer signs and returns CI with provision of Buyer\u2019s Vessel Charter Party Agreement (CPA) for approval (CPA must reflect Seller\u2019s Refinery name as Supplier).<\/p>\n
3.\tUpon verification, clarification and location of Buyer vessel chartered as per CPA, Seller introduces Tank Farm Company (that is storing the Seller\u2019s product) and TSR to Buyer. Buyer will verify with the Tank Farm Company the availability & quantity of product in the tank(s) before extending the Seller’s tank(s) for 2 days. The payment for tank extension is made along with registration of Buyer company name with the port Authority and terminal control management as the consignee of the oil products to enable Buyer and SGS teams to have access into the port to conduct dip test of the oil products in Seller tank(s). Seller provides:
\na. Certificate of Origin
\nb. Commitment Letter to Supply
\nc. Notice of Readiness
\nd. Authorization to Sell and Collect
\ne. Fresh SGS
\nf. Authorization to Verify (ATV)<\/p>\n
4.\tAfter the verification of the above documents, Buyer provides Q88 with full details of the Vessel\u2019s Captain, including readiness to receive the product into the vessel (RTRF), to Seller. If Buyer cannot provide reliable and ready Q88 at the loading port, Buyer shall pay for the Title Transfer to enable Buyer to take over the product in Seller\u2019s tank(s)<\/p>\n
5.\tPre-Injection report DTA is provided. Buyer appoints testing team SGS or equivalent to conduct Dip Test in Seller tank(s) before injection to Buyer\u2019s Vessel. If the SGS report indicates that the product to be supplied fails to meet the specification, the Seller shall with immediate effect refund the 2 days storage tank lease extension back to the Buyer.<\/p>\n
6.\tAs soon as the SGS Dip Test passes, Buyer will make 100% Full Payment of the product via MT103\/TT to Seller\u2019s nominated Bank and provide Bank Transfer Slip for confirmation. Thereafter, the product will be injected into Buyer\u2019s Vessel.<\/p>\n
7.\tSeller provides Title Ownership documents to the Buyer upon the final confirmation of Buyer payment.<\/p>\n
8.\tSeller pays Commissions to Seller\u2019s side and Buyer\u2019s side as structured in the NCNDA \/ IMFPA. Monthly deliveries continue as Contractually agreed.<\/p>\n
————————————————- End of Transaction procedure———————————————————-<\/p>\n
IMPORTANT NOTES:
\nSeller can deliver:<\/p>\n
\u2022\t JET A1 at fixed prices currently equivalent to an average discount to Platts between 15% and 20%
\n\u2022\tULSD 10 ppm EN590 and Light Cycle Oil at fixed prices currently equivalent to an average discount to Platts 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 above transaction procedure wording is final and will not be changed.
\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\tBuyer\u2019s Charter Party Agreement (CPA) shall be established directly between Buyer and a reputable, Top 40 tanker company. CPAs established with Shipping brokers will not be accepted.
\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\tCommercial Invoice and subsequent Seller side documentation will be issued by the direct Seller.
\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.
\n\u2022\tSeller 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 or LCO, fully open for sharing among the buyer side intermediaries. <\/p>\n
ANNEX 1 (TEXT OF THE TRANSACTION PROCEDURE<\/em>)<\/p>","protected":false},"excerpt":{"rendered":" FOB delivery ports: Rotterdam, Fujairah, Jurong 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 …<\/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-3733","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. CPA WITH: (Name of tanker shipping company with which CPA is established)
\n9. SPECIFICATIONS: ATTACH 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