D2-GasOil -SPOT (Russian Origin)

Offer from the Seller Mandate:To:The End Buyer / Mandate PRODUCT : GASOIL L 0.2-62;GUARANTEED SPECIFICATION : IN ACCORD WITH GOST 305-82;ORIGIN : RUSSIAN FEDERATION;PACKING : BULK;QUANTITY : 100 000 METRIC TONS (¡ 5%) PER MONTH x 12 MONTHS, FIRST SHIPMENT TO COMMENCE WITHIN 30 - 45 DAYS AFTER RECEIPT OF AN OPERATIVE FINANCIAL INSTRUMENT FROM THE BUYER BANK; OR FIRST SHIPMENT CAN BE DONE BY VESSEL (25.000 MT).PRICE : THE PRICE IS DETERMINED AS MEAN AVERAGE OF THE THREE CONSECUTIVE DAYS AROUND THE BILL OF LADING (B/L) DATE (THE DAY BEFORE, THE DAY OF B/L, AND THE DAY AFTER) TO BE REFERRED TO THE AVERAGE QUOTATION AS REPORTED BY PLATT EUROPEAN MARKETSCAN FOR GAS OIL 0, 2% SULPHUR CONTENT UNDER THE HEADING FOB/NWE, FOB/MED MINUS DISCOUNT PLUS FREIGHT:GROSS DISCOUNT: US $ 7.00/MT;
NET DISCOUNT: US $ 5.00/MT.TERMS OF PAYMENTBY IRREVOCABLE, CONFIRMED, TRANSFERABLE, DOCUMENTARY LETTER OF CREDIT AT SIGHT 100% TO COVER EACH MONTH SHIPMENT ISSUED BY THE PRIME TOP BANK.PROCEDURESBUYER ISSUES ICPO;
SELLER ISSUES FCO;
SELLER ISSUES DRAFT CONTRACT;
BUYER CONSIDERS THE CONTRACT, AMENDS, MAKES THE CHANGES IN RED COLOR AND RETURNS THE CONTRACT WITH FULL BANK INFORMATION;
SELLER SIGNES/SEALES WITH COMPANY SEAL THE CONTRACT AND RETURNS TO BUYER;
BUYER SEALS THE FINAL CONTRACT AND SENDS BACK TO THE SELLER;
THE SELLER BANK AND BUYER BANK SHOULD AGREE THE TEXT OF LETTER OF CREDIT;
BUYER BANK SHALL ISSUE OPERATIVE L/C TO SELLER ;?THE SELLER SHALL ISSUE OPERATIVE PERFORMANCE BOND 2%;
SHIPMENTS COMMENCE AS PER CONTRACT.Pls note Loading is immediate. Qty can be altered to suit the Buyer and his Vessel arrrangements. SPOT shipment before an Annual Contract Preferred.
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