- Buyer issues Irrevocable Corporate Purchase Order (ICPO) addressed to the Seller Refinery, along with company profile, buyer signatory’s passport copy. BCL or RWA letter as Proof of Funds (POF) letter should clearly indicate that the Buyer is ready, willing & able to execute the order and enables Seller Refinery to soft probe for counter checks.
- Seller issues the draft SPA for buyer's review and signing upon completion of counter check on RWA letter.
- Seller legalizes and registers the contracts with insurance company and notarize it with the appropriate. Authorities of the ministry of energy along with the below PPOP documents.
- Product Quality Passport-Quality Certificate.
- Certificate of Product Origin.
- Product availability.
- Commitment letter to supply the product from Ministry of Energy.
- Buyer’s bank issues MT199 to seller’s nominated bank informing readiness to issue agreed Financial Instrument (SBLC/DLC). Buyer’s bank in accordance with seller’s verbiage shall issue (SBLC/DLC) for first shipment’s value within six (6) working days after receiving the PPOP documents to seller’s financial bank to enable seller to commence loading of product with the shipping company. Seller is to finalize loading within twelve (12) working days upon receipt & acceptance of Financial Instrument.
- But if buyer fails to issue the security guarantee (SBLC/DLC) within six (6) working days on time, as an alternative, a time extension for the security guarantee to be presented, buyer shall pay a range of $300,000.00 to $1,000,000.00 (subjective to the shipment value & at the sole discretion of the refinery) by MT103 to seller nominated company within seven (7) calendar days, which will be deducted from the product’s invoice value of product at destination port.
- After confirmation of receipt of security guarantee/payment by seller’s bank, seller at own expense, charters with shipping/logistic company and alert buyer on shipment ordered graphic/schedule accompanied with submission of nominated Vessel details to buyer.
- Seller’s bank responds with contractual operative 2% PB and full POP to buyer’s bank within Seventy - Two (72) hours since buyer’s instrument confirmed by seller’s bank
- Copy of the Port Storage Agreement.
- Copy of the CPA to Transport the Product to Discharge Port.
- Vessel Q88.
- Original BL (full set).
- Copy of SGS Report.
- Upon successful product confirmation against SGS/CIQ Report of Quality and Quantity at destination port, buyer makes payment by MT103/TT.
CIF PROCEDURE (QATAR REFINERY)
CIF PROCEDURE (QATAR REFINERY)
CONTRACT SHIPMENT 50,000 MT/MONTH X 12 MONTHS
DELIVERY TERMS : CIF ASWP
LOADING PORT : QATAR
DELIVERY PORT :
PRICE : USD TBA/MT (This price quoted subject to change by seller/refinery from time to time )
CONTRACT : 12 MONTHS WITH R&E
ORIGIN : QATAR
SPECIFICATION : AS ATTACHED OR BUYER’S SPECS
PAYMENT : SBLC / DLC AS
PAYMENT GUARANTEE : SBLC / DLC AS PAYMENT
AND MT103/TT AFTER DIP TEST FOR EACH SHIPMENT
ULSD EN590 10 ppm Euro 5 Diesel
|Property||Test method||Test Unit||Guarantee||Limit|
|Density at 15 0C||kg/m3||820-845|
|Flash Point||EN 2719||0 C||>55|
Cold Filter Plugging Point
|EN 116||0 C|
|Distillation||EN ISO 3405||Max|
EN ISO 20846
EN ISO 20884
|EN ISO 10370||wt%||0.30||Max|
|Viscosity at 40C||EN ISO 3104||cst||2.0-4.5||Max|
|Copper Strip Corrosion (3h a5 50C)||EN ISO 2160||rating||No.1||Max|
Fatty acid methyl ester(FAME)
EN ISO 5161
|Cetane Index||EN ISO 4264||calculated||46||Min|
|Water||EN ISO 1293||mg/kg||200||Max|
|Particulate Matte||EN 12662||mg/kg||24||Max|
EN ISO 12205
|EN ISO 12156/1||um||450||Max|
08 Sep 2023