REBCO

Quantity Order:

STANDORA OIL
622 SALEM AVENUE
DAYTON OH 45406
USA
TEL: 937 648 1533
FAX2402148771
standoraoil@inbox.com
Product: REBCO
Quantity:10,000,000-60,000,000 bbls. Per month
Delivery: CIF in accordance with incoterms 2000
Price: The price shall be determined by the average of three days around the b/L date, the date before, on day of b/L and the day after. Price shall be based on the means of CIF as published in platt's European marketscan under the heading cargoes C. I. F. NWE ara basis-rotterdam-less a discount to the buyer as listed on sgs and q & q report at the loading port.
Discount:7/5 6/4, 5/3, 4/3, 3/2
Inspection: SGS
Payment terms: In US Dollars, Irrevocable, Confirmed Revolving, Transferable Documentary Letter of Credit.
Procedures:
1) buyer issues ICPO (Irrevocable Purchase Order) to seller, including this procedure and the bcl (Bank Comfort Letter) declaring that the buyer is capable to fulfil requirements deriving from the procedure stipulated in the I. C. P. O.
2) seller, issues draft contract for approval. In case of acceptance of the contract by the buyer, the contract will be signed by both parties.
3) buyer's bank issues a letter of readiness declaring preparedness to open a auto-Revolving, Irrevocable, Transferable, Rayable at sight against Documents for a face value of the first month delivery of Credit.
4) seller upon receiving the buyers bank readiness to open the Letter of Credit, causes its bank, to verify the issue the Proof of Product. Upon receipt of the P. O. P. Buyer's bank, issues the above detailed first month delivery L/C on a revolving basis.
5) the effective payments are to be executed against Bill of Lading and other standard documents as per contract according to incoterms-2000. Delivery commences as per confirmed schedule.

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