25th January, 2007
To: THE BUYER
SOFT OFFER
Seller hereby confirms his capability and
readiness to supply on direct sales based on terms and conditions
specified below.
COMMODITY: DIESEL GAS D2 GOST 305-82
ORIOGIN:
RUSSIA
QUALITY: Export Standard, to be advised
by the Seller
Quantity: 500,000/MT per month
contract period twelve (12) months
DELIVERY:
CIF, a.s.w.p.
PRICE: Fixed price US$ 431.00 per
metric ton
PAYMENT: By irrevocable, Non
transferable, revolving documentary Letter of Credit from a top 50 World
Bank
PROCEDURES:
a) Buyer confirms the
Soft Offer by providing ICPO & BCL.
b) Seller
sends a draft contract to the Buyer
c) On
receipt of Buyers acceptance of the draft contract, Seller sends
electronically the final contract signed and endorsed by Sellers Bank
and state Chamber of Commerce trade system. Within 5 days of signing the
electronic version the contracts to be lodged in respective banks.
d) Upon successful verification within four (4)
Banking days Seller or Sellers Bank will provide Proof of Product
(including allocation number) and a Bank acceptable by the Buyers Bank.
e) The Buyers documentary Letter of Credit will
become automatically operative upon receipt of Sellers Bank the 2%
Operative Performance Bond.
f) Revolving
Documentary Letter of Credit payable at sight at the counter of the
Buyers Bank upon presentation of full set of shipping documents. The
Letter of Credit will cover monthly shipments until completion of the
contract quantity (within 12 months).
INSPECTION: By a reputable independent surveyor
such as SGS or equivalent at the port of loading and shall be dement as
final.
PAYMENT: The
payment shall be made by Buyer to the Seller in the currency of US
Dollars by way of an Irrevocable, confirmed, Non Transferable, Revolving
Letter of Credit (RDLC) payable 100% at sight issued or confirmed by a
recognised Bank of shipment by shipment basis and the amount of L/C
shall correspond with the stipulated lot/batch of monthly quantity.
PERFORMANCE BOND: Seller
will provide a 2% operative performance bond to Buyers Bank which
automatically activates Buyers RDLC.
Yours sincerely, (duly signed)
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