LPG project

Validity until 31st January

*All the prices quoted are adjustable without prior notice, subject to market fluctuation.

Allocation of 1 million mton defined, and can be confirmed by the Producer/supplier’s proof document.Buyer’s BCL is required for seller’s proof document provides, and allocation proof can not be sent without proof of buyer’s transaction ability.Buyerwho there is no BCL, they can progress by ‘offer of ordinary terms and conditions’.

PRODUCT: LPG (Liquefied petroleum Gas)

SPECIFICATIONS: International standard.

ORIGIN: Turkmenistan (NEFTEGAS/GAZPROM)

PROJECT QUANTITY: 1,000,000 mton per mton for one year (minimum 500,000 mton per month)

NET PRICE:
1M x 12 = USD 450 / CIF
500K x 12= USD 460 / CIF

COMMISSION: Buyer side commission is NOT included in net price.

INCORTERM:CIF ASWP.

PB: 2% (Two Percent) Performance Bond (PB) of the financial instrument, issued within five (5) banking days after receipt of the buyer’s payment instrument.

PAYMENT TERMS: 20% Cash plus 80% DLC.
a) 20% Cash ; By the cash remittance via telegraphic transfer (TT) to seller bank after seller’s bank guarantee of protection letter.
b) 80% DLC ; By the IRREVOCABLE, TRANSFERABLE, REVOLVING DOCUMENTARY LETTER OF CREDIT, Issued and confirmed by one of 50 WORLD PRIME BANK and payable 100% at sight against SGS inspection report with shipping document which is seller provide.

POP: See the procedure.

LOADING PORT: Novorossiysk, Russia [map]

DESTINATION PORT: Any Safe World Port, to be determined by Buyer

DELIVERY PERIOD: 45 to 60 Days after receipt of Operative BG for the First Shipment and 30 Days for subsequent shipments

PROCEDURES:
{1} Buyer issues LOI/ICPO with bank endorsement. or Buyer sends business confirm letter with BCL after notarized.
{2} After approval by the Seller, Seller shall obtain NEFTEGAS/GAZPROM allotment approval which relate in transaction. Also, seller shall have Turkmenistan government’s approval for authentication of export.All of it will be present to buyer as confirmation.
{3} Seller issues a draft contract.
{4} Buyer will return signed contract via scanned email attachment within 48 hours.
{5} Seller will countersign contract and return to buyer via scanned email attachment.
{6} Buyer shall issue pre advice DLC/BG of 100% in favor of the Seller’s bank account valid for 13 months. It should be written clearly that pay cash of 20% after {7} clause procedure to buyer bank’s Pre-advice instrument.
{7} Within five banking days, seller will issue non-operative 2% PB of 100% DLC value on favor of buyer to be active it when buyer issue DLC/BG.Seller bank sends LETTER OF INDEMNITY for cash of 20% at the same time via swift.
{8} Buyer lets out Operative DLC/BG of 80% from the top primary bank to seller bank within five banking days from issue date of Seller bank non-operative 2% PB (MT799) SWIFT. Also, buyer sends cash of 20% after verify LETTER OF INDEMNITY.
{9} Seller issues the PERFORMANCE BOND GUARANTEE on 2% within five banking days after buyer’s Operative DLC/BG and seller provide the complete POP within five banking day via KTT.
{10} The first shipment will commerce no later than 60 days from date issued of the operative DLC/BG.
{11} Buyer’s payment shall be effected within five banking days by PAYMENT CONDITION.