EU Origin Petroleum (JETA1, EN590, Gasoline, Diesel, Fuel Oils)

EUROPEAN ORIGIN PETROLEUM SELLER INFORMATION    

    

Valid until further notice from the Seller    

    

DATE: 8/31/2024   TO: RESPECTIVE BUYERS & FACILITATORS	REFERENCE	PRODUCT	PRODUCT PRICE PER (BBL,MT,GALLON)	INSPECTION
	223EUPETRO- 2023	JETA1, EN590, GASOLINE, DIESELS, FUEL OILS +	REGIONAL OR APAG SINGAPORE PLATTS MINUS (-) 8% PER (X) (COMMS: 0.5% BUYSIDE)	SGS OR EQUIVALENT
QUANTITY (BARRELS)	TERM	LOADING PORT	DISCHARGE PORT	MODE OF PAYMENT
CONTRACT: 1-2 MILLION BARRELS PER MONTH X 12   CONTRACT: 50,000 MT PER MONTH X 12	CIF ASWP	(TO BE ANNOUNCED)	ASWP	MT799/MT760/MT103 {SBLC COLLATERAL INSTRUMENT}

                                 

CIF ASWP PROCEDURES:  

1. Buyer issues fresh LOI, CIS, Passport & desired Fuel Specs.
2. Seller issues Commercial Offer.
3. Buyer executes & returns with the RWA Bank Letter (Form Provided).
4. Upon receiving the Buyer RWA, the Sellers Bank will contact the Buyers Bank. The Seller will issue an ATV to Buyer’s Bank, so they can verify the following: 

• The Seller Trading Account to Transact Business.
• Fuel Trading Past Experience.

5. Seller issues Sale Purchase Agreement (SPA). Buyer executes and returns within 3 Business Days. The SPA is then lodged with each sides Bank. 

6. Buyer Bank issues a Pre-Advice SWIFT via MT 799. The Buyers Bank then issues the Collateral Instrument via SWIFT MT 760. Seller issues 2% Performance Bond. Also, upon verification of Buyer Instrument, Non-Performance Insurance is ordered (More Above) via Lloyds of London for 110% of Purchase Price to Buyer.  
7. Seller loads Vessel and issues the following Product & Delivery Documents:

• CPA
• Q88
• Vessel Product Ins. Policy (Lloyds)
• Commitment to Supply
• Commercial Invoice
• Statement of Product Availability
• Certificate of Origin
• Bill of Lading
• Cargo Manifest
• Ullage Report
• Certificate of Quality (SGS at Origin)
• Notice of Readiness
• ETA to Destination
• The Buyer may track or communicate with the Vessel at their convenience.

8. Per Standard Shipping Protocols, the Shipper contacts the Buyer within 48 hours of the arrival date. The Seller will issue the ATB and the DTA. Per local rules, Customs may accompany the Buyer.  
9. Subsequent to the Q & Q Inspection, and in accordance with the Final Invoice, the Buyer executes Payment via MT 103 Wire Transfer. The Seller transfers the Title Documents and Shore Tanks are Injected.