COMMODITY:WTS CRUDE OIL API 24.0
ORIGIN: HOUSTON, TEXAS
QUANTITY:1 MILLION SPOT PURCHASE WITH 2 MILLION BARRELS PER MONTH CONTRACT
FOB:HOUSTON, TEXAS
PRICE:WTI PLATTS - 1
COMMISSIONS: COMMISSION $.50 INCLUDED IN THE - 1 PRICE SPLIT $.25 BUY SIDE / $.25 SELL SIDE PAYMENT TERMS:BY SWIFT MT 103VIA BANK OF AMERICA IOLTA
INSPECTION: Q&Q, INTERTEK OR SGS AT BUYERS OWN EXPENSE
FOB SPOT PROCEDURES: 1. Seller issues a commercial invoice (CI) to Buyer to sign and return.
2. Seller issues report for lifetable quality buyer signs and returns to seller.
3. Within 8 hours after receiving the CI buyer pays via MT103/TT transfer 5% of the funds to cover 1,000,000 barrels quantity ready in tank for injection.
4. Seller issues full Injection report for lifetable quantity tank farm and tank number Houston, Texas.
5. Buyer nominates logistics / vessel Q88 to inject the product.
6. Buyer has 3-5 days to lift quantity at sellers storage tank. If Buyer does not remove Crude Oil in a lot time. Buyer will be responsible for tank storage fees incurred and will be deducted for the 5% deposit.
7. Seller injects fuel into buyers vessel buyer pays balance of funds to cover quantity loaded.
8. Seller issues SPA for signature and buyer agree to future lifts.
Please ask detailed and specific
questions about Pricing, Minimum Order Quantity, Delivery Timelines etc. Detailed Messages
result in prompt responses.
