Russian Export Blend Crude Oil / REBCO

Russian Export Blend Crude Oil / REBCO

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description :

We are pleased to announce that our source is in the position to offer Russian Export Blend Crude Oil (REBCO) with a minimum monthly order quantity of 50,000 MT.
Product: REBCO to GOST TU 39-1623-93 Specifications: Standard specifications Quantity: 300,000 MT per month (+/- 5%) Origin: Russian origin Period: 12 months with R&E to 60 months Delivery: FOB Inspection: By SGS or equivalent for quality and quantity loaded in shippers vessel Price / BBL: The price shall be computed by reference to the quotation published in Platts "URALS ex Novorossiysk FOB". The price shall be calculated taking the average mean quotation, for the 1 (one) day before the date of the Bill of Lading (B/L), the day of the B/L, and the day after the B/L less the discount PB: 2% on monthly value Payment: Either issued or confirmed by Top 25 World Bank, irrevocable, revolving Letter of Credit for the monthly shipment value. Payment for the goods will be made at sight against payment documentation at discharge port Procedures:
1. Seller issues FCO
2. Buyer issues ICPO inclusive of a MT-799 as per text that you will receive on request. (In the event of REBCO, the ICPO shall reflect the refinery number)
3. Seller issues draft contract to buyer
4. Contracts are signed electronically; buyer signs and sends by courier 8 originals to seller, seller returns 4 originals
5. Within 7 (seven) banking days:
From receipt and acceptance of the MT-799 and signed contract the seller shall submit via its bank to the buyer's bank Proof of Product (POP) and a non-operative Performance Guarantee in the amount of two Percent (2%) of the value of one (1) month's lifting of said commodity
6. Within 3 (three) days:
After receipt of POP and non-operative PB the buyer's bank shall issue to the seller's bank, an irrevocable, revolving Documentary Letter of Credit
7. Performance Bond becomes operative
8. Delivery commences as per contract
We trust the above is in order, await your details to prepare respectively sign the SPA, and will be available for any comment or question you might have upon the product offered.

Russian Export Blend Crude Oil / REBCO