FULL CORPORATE OFFER (FCO)
RUSSIAN GAS OIL LO.02-62,GOST 305-62
Dear Sir,
WE, ON BEHALF OF
PRINCIPAL SELLER, HEREBY CONFIRM THAT, WITH FULL CORPORATE
RESPONSIBILITY AND AUTHORITY, THAT WE ARE READY, WILLING AND ABLE TO
SUPPLY THE ABOVE PRODUCT COMMODITY AS PER THE TERMS AND CONDITIONS
BELOW:
1. PRODUCT:
RUSSIAN GAS OIL L0.02-62 , GOST 305-82
2 ORIGIN:
Russia
3. SPECIFICATION: Base on standard
Specification Origin
4. QUANTITY: 100,000 MT to
500,000 MT X 12 months. (First Trial Shipment 100,000 MT and
subsequently as per contract)
5. CONTRACT
DURATION: Twelve (12) months with agreement between Seller and Buyer.
6. INSPECTION: By SGS or any similar company and
the Seller will pay the charges.
7.
CONFIRMATION: The order is confirmed after the Seller receives the
IRREVOCABLE CONFIRMED PURCHASE ORDER (ICPO).
8.
BUYER’S DOCUMENTS: Import license from the authority to enter the
terminal. Other to be agree later between Buyer and Seller.
9. PRICE FIXED: USD495 per MT on CIF ASWP.
(Absolutely confirmed on acceptance of Signed Contract)
10. TERMS OF PAYMENT: Monthly Payment by a
Revolving, Irrevocable, -Transferable, Confirmed Documentary Letter of
Credit operative upon Seller issuing a 2.0% Performance Bond within
seven (7) international banking days.
.
12. PERFORMANCE BOND: The Seller will issue 2.0%
Performance Bond for the amount of one months delivery only. Performance
Bond will be made operative base on INCOTERM ICC 500 and within seven
(7) international banking days after the Buyers Bank receives POP and
confirmed Revolving DLC .
Procedures:
1. Seller Mandate issue
FCO
2. Buyer sign and seal the FCO and return to
Seller’s Mandate.
3. Intermediaries sign
IMFPA/NCND
4. Buyer issue ICPO & BCL to Mandate
Seller.
5. Seller verify from both parties bank
(Bank to Bank within 5 international banking days)
6. Seller send draft contract to Buyer.
7. Upon acceptance of draft Contract, Buyer
signs and returns to Seller
8. Buyer’s bank and
Seller’s bank communicate and agree on final wording of Documentary
Letter of Credit
9. Seller bank issue
non-operative 2.0% performance Bond (PB) to Buyer’s bank
10. Seller’s bank issue to Buyer’s bank the
proof of product (POP) upon proof of fund (POF) presented to Seller’
bank
11. Buyer’s bank issue 100% Assignable,
Irrevocable, Non Transferable, Revolving, Divisible operative Confirmed
(RDLC) for each cargo shipment of per delivery
12. Activated the 2.0% PB
13. Shipment commence
as per contract
NOTE:-
It is essential that the buyer supply the exact verbiage of the LC in
good time to allow the sellers bank to authorize it. This is to ensure
the LC is not issued then not acceptable (as it is irrevocable).
BANKING COORDINATES FOR BUYER TO ENTER IN THE CONTRACT:
BUYER’S NOMINATED BANK
Bank Name
Bank Address:
Account Name:
Account No.
Bank Officer
1 : Signature:
Bank Officer 2:
Signature:
Bank
Telephone:
Bank Fax:
SWIFT:
Trust the above meet
with your approval.
Sincerely yours,
Excel Minerals Sdn Bhd
_________________________
AMIRUL ARSHAD ABDULLAH
Chief Operating Officer
28th December 2008
ACCEPTED BY THE BUYER
Sign :
Name :
Position :
Chop and Seal :
ANNEXURE A
HS-D2 GASOIL L-0, 2-62
Corresponding to GOST 305-82
SPECIFICATIONS
RUSSIAN GASOIL 0,2/62 HS-D2 L-0, 2-62
COMPONENT UNIT MIN. MAX.
DENSITY@ 20 DEG C KG/m3 0,870
COLOUR 2.0
FLASH POINT,
Pmcc DEG 57 62
KINEMATIC VISCOSITY C-ST 3,0 6,0
POUR POINT DEG. C (*) -10,0
CLOUD POINT DEG. C (*) -5,0
MERCAPTAN SULPHUR 0,01
ACIDITY, MG/1000CM3 5
IODINE NUMBER g/100g 6
ASH %wt 0,01
TOTAL
SULPHUR %wt 0,02 0,05
COPPER CORROSION 3HRS@
50DEG.C (TYPICAL) 1A
CCR ON 10% RESIDUES %wt
0,20
CETANE INDEX 45
DISTILLATION RANGE
-50% RECOVERED VOL. DEG.C 280
-90% RECOVERED VOL DEG.C 360
-BACTERIA MBC FIBRE/IT 500
-BACTERIA CFU FIBRE/IT 1000
(*) SUMMER FROM MARCH TO
OCTOBER (PP-5,0 DEGREES C)
SUMMER FROM MARCH TO
OCTOBER (CP-0,0 DEGREES C)
WINTER FROM NOVEMBER
TO FEBRUARY (PP-10,0 DEGREESC)
WINTER FROM
NOVEMBER TO FEBRUARY (CP-5,0 DEGREES C)
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