PROCEDURE

REF: PGN/PETROLEUM/250105/01

Dear Sirs:
Good day.
 

Please include in your Buyer's LOI:

• Name of product;
• Specification of product;
• Origin of product, which Buyer requires;
• Duration of Contract: 12-months (Annual SPA);
• Quantity of Product per month;
• Quantity of Product per year/12 months;

• Procedure (core): LOI / Zoom / POF / FCO / SPA / SBLC / 2%PB / MT103:
  a). Buyer sends LOI.
  b). Seller, Buyer and Mediators provide the Introductory Zoom Video Conference.
  c). Buyers shows POF to Seller.
  d). Seller sends FCO directly to Buyer. If Buyer accept FCO - Seller issues SPA.
  e). Buyers issues SBLC (SBLC amount is 110% of the monthly contract cargo value.).
  f). Seller issues 2% Performance Bond.
  g). When vessel arrived in port of Destination (Rotterdam & etc.) – Buyer pays MT103 for delivered cargo.

• Delivery on CIF: port of Destination;
• Target Price; (Index Platts : Platts Code - Discount);
• Buyer’s Collateral: SBLC;
• Buyer’s Payment terms: MT103;
• Buyer's bank name and Rating in TOP listing.

Special conditions: 
NO advance payment for a qualified buyer.
For Buyers who want Face to Face Meeting instead Introductory Zoom Video Conference:
If you need a F2F meeting, all expenses for a hotel, notary office and translator at the expense of the receiving party.

Waiting for your Buyer's LOI.

With Best Regards,
Partner Group Network