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D2 Spot 500,000 MT
Commodity: D2 Gas Oil
Price: $440/$460
Location: FOB Houston
Duration: Spot
Amount: 500,000 MT (All Lift Able)
Procedures:
1.1 Buyer issues ICPO special format plus NCND/IMFPA to the Seller or
1.2 Buyer issues an ICPO with full banking details and sends BCL/RWA per Swift
2. Seller issues Draft Contract to the Buyer.
3. Buyer to sign and seal Draft Contract and return to the Seller.
4. Buyer sends to Seller’s Bank a Pre-advice of opening of MT-103 via swift MT-760.
5. After bank confirmation of receipt, Seller sends Tank Receipts and SGS Report for 500,000 MT in Houston to the Buyer.
6. Within 48 hours of receipt of Tank Receipts and SGS Report, Buyer’s Bank opens conditional MT-103/23 to Seller’s Bank.
7. Seller sends originals of POP and change of ownership to the Buyer.
8. Delivery commences as per the agreed contract. |
