ref-ndp-petr-fob-cif-020917-all nd preston...

ND Preston LLC – 3108 Columbia Pike, Floor M – Arlington, VA 22204 Email: [email protected] - Tel: 202-847-6761 – web: www.ndpreston.com – Skype: nd.preston

REF-NDP-PETR-FOB-CIF-020917-ALL

Price and Discount Valid only with Code: “ND PRESTON LLC”

Soft corporate offer

COMMODITY: ANY REFINED PETROLEUM PRODUCT (EXCEPT LNG NOW) QUANTITY: FIRST LIFT: BUYER’S QTY PURCHASING PRICE: NEGOTIABLE FOB AND CIF TO ASWP ORIGIN: RUSSIA SPECIFICATION: STANDARD INSPECTION: SGS EQUIVALENT PAYMENT: MT103/23 (/72), MT103. COMMISSION: NEGOTIABLE SELLER AND BUYER’S BANK COMMODITIES DEPARTEMENT CONFIRM THEIR DD BEFORE ANY TRANSACTION STARTS

PROCEDURES - STRICTLY NOT NEGOTIABLE

1. Buyer issues ICPO with full contact and bank details.

2. Supplier issues draft CONTRACT AND PROFORMA INVOICE for negotiation. Buyer and seller sign

and seal after mutual agreement. (The contract and the signed and sealed invoice are sent

to the banks.)

3. Upon signature of the FINAL CONTRACT and the PROFOMA INVOICE - with transaction code

reference number, Buyer's Bank issues for each cargo - one MT 103/23 CONDITIONAL (to

check and verify the documents and the product, including the Dip Test Authorization) and

REVOLVING. Send via Swift to the supplier’s bank, with a copy to supplier’s secure E-mail ad-

dress.

4. Upon confirmation of the MT 103 CONDITIONAL the Supplier immediately issues the following:

Supplier deposit 2% PB. All the following documents related to the product:

a) The Dip Test Authorization, tank storage, receipt and survey report made by SGS or

IASC.

http://www.ndpreston.com/


b) Tanker Ullage report at loading port, with time log and Shipmaster report.

c) Certificate of Origin, countersigned by a local Chamber of Commerce.

d) Notice of readiness (NOR) lodged by Shipmaster at loading port, countersigned for ac-

ceptance by terminal’s representative.

e) Signed commercial invoice, based on the delivered quantity/quality, showing name of

vessel, date of completion, loading quantity and state of delivery.

f) Master sample receipt at loading port.

g) Any other documents pertaining or related to the current trip, duly by the authorized

Buyer’s persons.

h) Certificate of Insurance Coverage with payment confirmation issued by Insurance

Company.

i) Additional documents that may be required by the buyer.

POP Documents

Copy of license to export issued by the Ministry of Energy.

Copy of registration with Ministry of Justice - Export Duty Control.

Copy of statement of allotment availability of the product by the refinery.

Copy of the refinery commitment to produce the product.

Copy of the contract to transport the Product to the Port.

Copy of the Port Storage agreement.

Copy of the charter party agreement(S) to transport the product to the discharge port.

Assignment of ownership documents.

Seller issues SGS Q/Q certification, Tank Storage Receipts and Dip Test etc.

5. Buyer will receive within a short time, all relevant documents of the POP after the confirmation

of the Conditional MT103/23, Once the buyer has received all the documents, he has 5 (five)

banking days to check and verify the product and all the documents (Including the DIP test).

6. Once the DIP TEST is done successfully, the supplier issues COMMERCIAL INVOICE to the buyer.

When the Buyer approves all the documents the product will be loaded into the vessel. Buyer

receives the Charter Party agreement with the shipping company, the insurance (110% of the

value of the product) and the Q88 of the vessel.

7. Supplier issues Bill of lading within 24 hours upon completion of vessel loading.

8. After the vessel is completely loaded and before the vessel undocks the port, Buyer instructs

his bank to release the payment (the MT103/23). The title is issued to the name of the buyer.

IMPORTANT NOTE:

- Refinery will do soft probe on Buyer Bank account before issuing SPA or Proforma Invoice

- Buyer is welcome to do DD thru his commodities compliance Department before issuing his instrument



- Chinese Buyers are not allowed to use MT103/23 from Bank in main land China with Refinery, only Banks

from Hong Kong and Singapore are accepted

- Conditional MT103 is the only instrument accepted by Refinery, it would be revolving for contract

- SGS and full payment are done at loading port only, even for CIF delivery

- Buyer is welcome at the loading port for both FOB and CIF

- Negotiation is only about destination port, schedule for loading, commission (who pays commissions),

warranties, not about procedure.

- Supplier is from FIRST MARKET NOT Second Market

WE DO NOT ACCEPT ANY ICPO OR LOI WITH OTHER PROCEDURE. *Seller reserves the right to reject any Buyer's CP & ICPO/LOI, Logistics after DD Send it to: [email protected]


mailto:[email protected]