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Detailed Product Description
JET FUEL (JP 54 & JPA 1) - AVIATION KEROSENE RUSSIAN ORIGIN, CIF
REFINERY PRICES VALID AS OF MAY 19th 2008
Under 450,000 BL per month x 12 months..............USD 67 / 63 Net Per Barrel
450,000 to 950,000 BL per month x 12 months.......USD 64 / 60 Net Per Barrel
Over 1,000,000 BL per month x 12 months.............USD 62 / 58 Net Per Barrel
PROCEDURES
- END-BUYER sends ICPO with bank details with soft probe permission to the END-SELLER along with buyer side NCNDA & IMFPA signed
- END-SELLER sends FCO to the END-BUYER.
- END-BUYER signs and returns the FCO.
- Upon acceptance of draft contract, END-BUYER and END-SELLER execute the contract.
- END-BUYER returns signed draft contract.
- END-BUYERS and END-SELLERS Banks communicate and agree on the final wording of DLC.
- Following the signing of contract, the END-BUYERS bank will issue 100% non-operative irrevocable divisible auto revolving DLC from top 25 bank to END-SELLERS bank that is to be trigger and become operative once seller issues operative 2% PB and POP
- END-SELLER bank will issue operative 2% PB and POP to END-BUYERS bank to trigger the non-operative irrevocable divisible auto revolving DLC to make it operative, if END-SELLER fails to deliver the product the 2% PB will be for BUYERS and intermediaries for compensation. The SGS inspection charges will be borne by the END-SELLER.
- Delivery commences as per contract. END-BUYER releases payment to the END-SELLER and all brokers/agents same time out-turn shipment delivered per slot via SWIFT fund transfer within 2 to 3 banking days after loading of cargo at the loading port and receipt of all the relevant shipping documents.
END-SELLER will provide the following documents as POP:
Copy of license to export, issued by the ministry of energy.
Copy of approval to export, issued by the ministry of justice.
Copy of statement of availability of the product.
Copy of the refinery commitment to produce the product.
Copy of Transneft contract to transport the Product to the Port.
Copy of the Port Storage agreement.
Copy of the charter party agreement(s) to transport the product to discharge port.
NOTE: Prices are volatile and may be subject to change with little or no notice.
