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I facilitate WTI West Texas Intermediate crude oil Origin: USA. Seller side is closed. I am buyer side too.
4 January 2023
Price quoted is valid for 14 days
To: End Buyer
Soft Corporate Offer - SCO
To End Buyer / Mandate
We on behalf End Seller Refinery / Logistics Company, hereby issue this Soft Corporate Offer with given terms and conditions as stated in this offer to confirm our readiness and to execute a
Sales and Purchase Agreement with the end buyer, with the ability to supply the following commodities according to the terms and conditions stipulated in this formal corporate offer for the
Petroleum Products our Seller can supply for immediate lift on FOB basis from Port of Houston or Rotterdam the following USA origin Product(s).
Product West Texas
Intermediate WTI
ORIGIN: USA
QUANTITY (BARREL): 1,000,000 Spot, upto 5,000,000/month x 11 months with R&E
FOB PRICE: Gross Platt Flat / Net $-1 per Barrel
COMMISSION: USD0.50 SELLER SIDE, USD0.50 BUYER SIDE PER BARREL
MODE OF PAYMENT: TELEGRAPHIC TRANSFER (TT) MT 103
DISCHARGE PORT: FOB HOUSTON / ROTTERDAM
****** Seller's Procedures are non-negotiable****** FOB Transaction Procedures
Buyer issues and sends irrevocable corporate purchase order (ICPO) with seller’s transaction procedure along with passport copy of the company representative.
The buyer will also provide TSA to the seller.
*Note*: 1. The TSA must be from a USA Company for FOB Houston.
2. The TSA must be from a Netherlands Company for FOB Rotterdam.
Seller issues Commercial Invoice (CI).
Buyer sign CI and Return CI to seller.
Seller releases Injection Programming Agreement (IPA) to Buyer for affirmation to program product injection with Buyer’s tank farm.
Upon successful programming, Seller’s representative, SGS Team, and Buyer’s representative meets at seller tank storage for the tank and pipeline verification and Seller issues the hard
copy POP documents to buyer representatives in person (Face to Face).
Quantity and Quality Certificate (SGS) 48hrs fresh
Tank Storage Receipt (TSR).
Product Passport (Dip Test Result).
Statement of Product Availability.
Refinery Commitment to Supply.
Authorization to Sell/Collect (ATSC).
Authorization Letter to Verify the Product with the Tank Farm.
Company Registration Certificate.
Upon successful verification of documents and SGS report by buyer’s team, buyer commence dip test in seller’s tank, if need be, for more confirmation.
Upon confirmation of product Q&Q, Seller begins injection into buyer’s tank storage and all parties sign NCNDA/IMFPA.
The buyer makes payment by MT103 or TT wire transfer for the total product available.
The seller changes the title of ownership to the buyer’s name and pays all intermediaries according to the signed NCNDA/IMFPA for monthly deliveries and the buyer lifts the product
Tank to Vessel Procedure
Buyer issue and send irrevocable corporate purchase order (ICPO) along with Chartered Party Agreement (CPA) from Buyer’s shipping company with seller’s transaction procedure along with passport
copy of the company representative.
Seller issues Commercial Invoice (CI) and Buyer signs CI and Return CI to the seller.
Seller, Buyer and Pipeline Transport company signs the Tank to Vessel injection Agreement (TVIA)
Seller provides to Buyer:
Notice of Readiness
Injection schedule from the Pipeline transport Company.
Buyer provides vessel Q88 and Authority to Board (ATB) from Buyer’s shipping company to Seller/ Pipeline Transport company.
Buyer provides Injection Passage Clearance (IPC) in Buyer’s name registered with the port authority from the Pipeline Transport
Company required for commencement of product injection.
Upon successful verification of the Injection Passage Clearance (IPC) by the Seller, the Seller issues the hard copy POP documents to
buyer representatives in person (Face to Face)
Quantity and Quality Certificate (SGS) 48 hrs fresh
Tank Storage Receipt (TSR).
Product Passport (Dip Test Result).
Statement of Product Availability.
Refinery Commitment to Supply.
Authorization to Sell/Collect (ATSC).
Authorization Letter to Verify the Product with the Tank Farm.
Company Registration Certificate.
Upon successful verification of documents and SGS report by buyer’s team, buyer commence dip test in seller’s tank if need be for more confirmation, upon confirmation of product Q&Q, begins
injection into buyers’ vessel and all parties sign NCNDA/IMFPA.
The buyer makes payment by MT103 or TT wire transfer for the total product available.
The seller changes the title of ownership to the buyer’s name and pays all intermediaries according to the signed NCNDA/IMFPA for monthly deliveries and the buyer lifts the product.
Tank extension procedures with guarantee
Buyer issues and send irrevocable corporate purchase order (ICPO) with seller’s transaction procedure along with passport copy of the company representative.
Seller issues Commercial Invoice (CI).
Buyer extends Seller’s tanks for 2 days.
Seller provides 2 days tank extension invoice to Buyer.
NOTE: Seller shall refund Buyer within 4 business days of Seller does not perform.
A commitment/guarantee letter will be issued to buyer.
Upon successful programming, Seller’s representative, SGS Team, and Buyer’s representative meets at seller tank storage for the tank and pipeline verification and Seller issues the hard copy POP
documents to buyer representatives in person (Face to Face):
Quantity and Quality Certificate (SGS) 48hrs fresh
Tank Storage Receipt (TSR).
Product Passport (Dip Test Result).
Statement of Product Availability.
Refinery Commitment to Supply.
Authorization to Sell/Collect (ATSC).
Authorization Letter to Verify the Product with the Tank Farm.
Company Registration Certificate.
Upon successful verification of documents and SGS report by buyer’s team buyer commence dip test in sellers’ tank, if need be, for more confirmation.
Upon confirmation of product Q&Q, begins injection into buyers’ tank storage all parties sign NCNDA/IMFPA.
The buyer makes payment by MT103 or TT wire transfer for the total product available.
The seller changes the title of ownership to the buyer’s name and pays all intermediaries according to the signed NCNDA/IMFPA for monthly deliveries and the buyer lifts the product.
