SCO-1 "Mazut, D2, JP54, Crude"

New Offer Feb. 2014

MAZUT CIF ASWP: USD420/MT
D2 CIF USD850/MT, FOB USD735/MT
JP54  CIF USD89/BBL, FOB USD79/BBL
CRUDE CIF USD89/BBL, FOB USD81/BBL


1. The Buyer issues an Irrevocable Corporate Purchase Order (ICPO) and sends it via electronic mail to the Refinery alongside with the following Documents;
               a. Full Banking Details.
               b. Buyer’s company/personal information, and 
               c. A copy of the Data Page of the Buyer’s International Passport.

2. Refinery issues the Draft Contract for the Buyer’s signatory. The Draft Contract must be duly endorsed and returned alongside with the Official Letter of Acceptance to the Refinery.

3. Within 24 hours upon the arrival of the First/Trial Shipment at Storage Facility/Tank Farm in the designated loading port, the refinery releases the Partial POP documents to the Buyer via Email;  

    Tank Receipt
    Tank Storage Agreement
    Analysis Report (Dip Test Result)
    Commitment to Supply 
    Commercial Invoice
    Conditional DTA “Dip Test Authorization”.

4. Upon the receipt of the Partial POP Documents as advised above, the Buyer’s Bank issues an Irrevocable Standby Letter of Credit “SBLC” in favor of the Refinery as guarantee of payment for Goods supplied, covering the one- month delivery as per the Commercial Invoice.

5. Within 48 hours after the receipt and confirmation of Irrevocable Standby Letter of Credit “SBLC” the lifting commences and the Refinery’s Bank shall swift the Product Title and Full POP Documents to the Buyer’ Bank alongside with the 2% Performance Bond (PB), in case of delivery failure by the Refinery and the 2% of the Cargo worth will be paid to buyer.

6. Buyer pays via T/T Wire Transfer upon the arrival of the cargo and after the CIQ/SGS Inspection at discharge port.