EN590 10 PPM (parts per million) is a high-quality automotive diesel fuel that provides optimal engine performance, fuel efficiency, and reduced emissions.
CIF Price: Gross USD $515.00 Per MT/ Net USD $505.00 Per MT
FOB Price: Gross USD $495.00 Per MT/ Net USD $485.00 Per MT
EN590 diesel is a high-quality, ultra-low sulfur fuel designed for modern diesel engines, ensuring cleaner combustion and improved efficiency. It is widely used across industries, including transportation, construction, and power generation.
1. BUYER issues LOI with full company KYC including: Company Details, Contact Details for Signing Authority, and Passport Facing Page.2. SELLER issues Soft/Full Corporate Offer SCO/FCO) including: Full Company Details, Contact Details for Signing Authority, Passport Facing Page, and Company Banking Details.3. BUYER accepts terms and issues Irrevocable Corporate Purchase Order (ICPO) addressed to the SELLER. ICPO MUST include SELLERâ??S procedures on BUYERâ??S official company letterhead.4. Included with ICPO, BUYERâ??S Bank issues a BCL/POF/RWA bearing the SCO REF Number: SCOKVPL0524001 a. BUYER authorizes SELLER and/or SELLERâ??S Financial Service Provider to verify BCL/POF/RWA via BUYERâ??S Bank.
5. SELLER issues PPOP upon successful verification of BUYER bank BCL/POF/RWA. Documents included in the PPOP document package are:a. SELLER Bill of Lading b. Loaded SGS Report Q&Q -(Notarized).c. Chief Officers Ullage report-(Notarized) d. SELLER Charter Party Agreement (CPA) e. Product Passport (product analysis report) -(Notarized) f. Certificate of Origin -(Notarized) g. Statement of Product Availability -(Notarized) h. Commitment and Assurance Letter to supply -(Notarized) i. Authority to sell and collect (ATSC) -(Notarized) 6. End-to-end procedure after issuing PPOP is NOT expected to exceed TEN (10) working days, including 96 hours for vessel loading laycan. 7. Included with PPOP, SELLER issues Commercial Invoice (CI), and NCNDA / IMFPA to BUYER. 8. The BUYER signs and returns the executed documents to the SELLER. If the documents are not executed in a timely fashion. The SELLER may terminate this agreement without prejudice to any rights or remedies of the SELLER. Notice will be in writing. 9. After safely receiving the PPOP and returning the executed CI and documents. The BUYER MUST issue either MT 700 DLC or MT 799 BLOCKED FUNDS to the full value of commercial invoice amount. 10. Additionally, the BUYER MUST present his vessel for loading in the nominated port and be ready within 24 Hrs to load the full cargo. When requesting the UDTA to be issued, BUYER MUST provide the following details to the SELLER: a. VESSEL NAME
b. VESSEL Q88 c. Vessel Agent full contact details 11. After fund instruments and vessel nomination details are received. The SELLER will issue Unconditional Dip Test Authority (UDTA) to the BUYER. SELLERâ??S agent will contact the BUYERâ??S agent and program the vessel for ShipTo-Ship (STS) loading within 24 hours. 12. BUYER loading LAYCAN will commence 24hrs after the UDTA is issued to the BUYER. BUYER has 96 hours Laycan to finish loading the vessel. CIN: U74999DL2016PTC298417 13. BUYER Dips Tanks prior to vessel berthing. BUYER obtains fresh SGS Quantity and Quality report. 14. After successful Dip Test and Q&Q report. BUYER instructs account manager to make full payment of the full value of commercial invoice via SWIFT MT103 to SELLERâ??S nominated accounts.
World Simplest Procedure: No Upfront Payment, POF FOR POP DEAL PRICE: USD 560/MT Gross.
VTT- FOB ASWP TRANSACTION PROCEDURES:
1. Buyer provides ICPO incorporating sellerâ??s procedures, Buyer RWA + ATV for seller to perform due diligence and verify POF with Buyer's Bank.
2. Seller sends signed Commercial Invoice (CI) to Buyer and Buyer countersigns and sends CI back to seller within 48 hours. NCNDA+IMFPA is completed and signed off by all parties.
3. Products will be loaded onto a vessel at the seller's loading port and fresh SGS will be completed and provided to the buyer.
4. Seller will provide buyer with a copy of the Charter Party Agreement; therefore, the buyer can view the vessel as it is moving to the destination port.
5. The buyer has choice to either have the product discharged in any of the ports specified above based on product.
6. Upon arrival of the vessel tanker at the final discharge port, the buyer shall show updated POF, conduct the SGS/CIQ Inspection (optional at buyer's expense) and make the payment for the full shipment via TT Wire or MT103 TT (Wire Transfer). Buyer has the choice of paying in full through TT Wire or MT103 upon first SGS at loading port, or when the product starts discharging into buyerâ??s tank or as soon as the discharge is completed into the buyerâ??s tank.
7. Seller transfers ownership of the product to the buyer as per the buyerâ??s instructions.
8. The seller pays all buyer and seller intermediaries the full commission amount as stated in the NCNDA/IMFPA agreement. Subsequently, monthly contract proceeds as outlined in the terms and conditions of the sales and purchase agreement between the buyer and the seller.
VTO PROCEDURES- FOB ASWP PROCEDURES (VESSEL TAKE OVER):
1. Buyer provides ICPO incorporating sellerâ??s procedures, Buyer RWA + ATV for seller to perform due diligence and verify POF with Buyer's Bank.
2. Seller sends signed Commercial Invoice (CI) to Buyer and Buyer countersigns and sends CI back to seller within 48 hours. NCNDA+IMFPA is completed and signed off by all parties.
3. Products will be loaded onto a vessel at the seller's loading port and fresh SGS will be completed and provided to the buyer.
4. Seller will provide buyer with a copy of the Charter Party Agreement; therefore, the buyer can view the vessel as it is moving to the destination port.
5. Upon arrival of the vessel tanker at the final discharge port, the buyer shall show updated POF, conduct the SGS/CIQ Inspection (optional at buyer's expense) and make the payment for the full shipment via TT Wire or MT103 TT (Wire Transfer).
6. Seller transfers ownership of the product and buyer takes over the vessel.
7. The seller pays all buyer and seller intermediaries the full commission amount as stated in the NCNDA/IMFPA agreement. Subsequently, monthly contract proceeds as outlined in the terms and conditions of the sales and purchase agreement between the buyer and the seller.
Welcome to Neom Star Petroleum Trading in the UAE! We are pleased to meet your petroleum product needs with competitive prices and smooth procedures, through partnerships with some of the most reputable oil refineries. We ensure fast processing with available quantities in Houston and Rotterdam.
In this link nmsgt.com/blogs, you will find strict procedures from 3-4-5, which also include the FOB/CIF system and TTT-TTV-TTO loading.
EN590 FOB TTV Seller Procedure
Origin : Kazakhstan
Loading port: Singapore port
UNIT PRICE : USD 490/MT
PAYMENT TERMS : MT103
TRANSACTION TERM : FOB
1. Buyer accepts seller working procedure and issue ICPO
2. Seller's issues commercial invoice (CI), Buyer signs and returns back commercial invoice.
3. Seller issue TSR with GPS coordinate to Buyer Company,
4. Buyer contacts the Seller's storage facility for tank extension to enable Buyer approval to gain access to the facility and execute the Quality & Quantity Inspection in Seller Tank Farm for FRESH Analytical Report/Result by SGS. ( Note* One day extension fee is 78,000 usd and will be deduct when buyer is paying total amount )
5. After successful DIP test, (NCNDA/IMFPA) will be signed by all parties.
6. Seller injects product into Buyer's vessel or injects into Buyer's tanks Buyer or buyer take over the storage tanks, within maximum 48 hours Buyer pays via MT 103/TT for the spot transaction and seller issues all export documents to buyer.
7. Upon conclusion of first lift transaction seller pays all intermediaries involved in the Transaction and proceeds with the signing of contract with Buyer.
