Reference FUS
SOFT CORPORATE OFFER
To: End Buyer
We, GUBS OIL, hereby state and represent that it is our corporate intention to sell commodity UREA in the quantity and for the price as specified in the Terms and Conditions stated below. This representation is made with full corporate authority and responsibility:
COMMODITY: UREA 46% Granular
ORIGIN: Poland and Ukraine, No Russian DNA and a non-sanction country
SPECIFICATIONS: UREA 46% Standard Specification
QUANTITY: Monthly 50.000 MT
Contract: 1 year (12 * 50,000 MT = 600,000 MT). Extension possible.
PACKAGING: Bulk, 1000kg Big bags
DELIVERY SIZE: 50.000 MT +/- 5% (One vessel)
DELIVERY SCHEDULE: Delivery schedule in the SPA
MODE OF PAYMENT: REGULAR S.P.A. SBLC MT760 for 1 months Value for 12 months +1day with one year extension, MT103/202
Price: 5 days average price minus 10% from Argus Platts index + Transport cost to destination
UNLOADING SEA PORT: Buyer destination
DISCHARGE RATE: TBD
INSPECTION: SGS, BV or Similar Organization
DOCUMENTS: FOR RELEASE PAYMENT ON DELIVERY TO VESSEL: T.B.A. at S.P.A.
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TRANSACTION PROCEDURE (CIF):
1. The Buyer issue LOI with CIS
2. The Seller issue SCO with CIS
3. The Buyer issue ICPO/POF (bank Statement print screen with the attorney attestation letter or sign and stamp by CEO to our CEO only).
4. The Seller issues a Sales and Purchase Agreement (SPA) to the Buyer, and both parties sign and lodge it with their banks.
5. The Buyer’s bank provides a Pre-advice SWIFT MT705 together with an RWA MT799 (that covers the SBLC) to the Seller’s Bank.
6. The Seller’s bank responds with a 2% Performance Bank Guarantee (PBG) of the SBLC monthly value.
7. Within five (5) banking days, the Buyer’s bank issues the SBLC via SWIFT MT760 service from a Top 50 EU/US Bank or a true Top 25 corresponding EU bank to the Seller’s bank account.
8. The Seller loads the first shipment of 50,000 MT, providing the following documents to the Buyer within 5-15 working days:
a. Commitment to Supply
a. Certificate of Origin
b. Seller’s Certificate of Incorporation
c. Q88 (Vessel Questionnaire 88) and other shipping documents
d. Bill of Lading
e. SGS Report at Loading Port
f. Copies of Charter Party Agreement(s) for product transfer to the discharge port
g. Notice of Readiness (NOR) / Estimated Time of Arrival (ETA)
9. Upon confirmation that the SGS test results match product specifications from the Buyer. Vessel will sail to the Buyer’s discharge port. Upon vessel arrival at discharge port, Seller will engage an Independent Inspector such as SGS or similar to issue a test report within forty-eight (48) hours following the Vessel’s Notice of Readiness (NOR) at the discharge Port., The Seller sends the Test Report to the Buyer.
10. After the Buyer receives the test result, the Buyer transfers the full payment for the product via MT103/202 in 24 hours to the Seller’s designated bank account.
11. After receiving the payment, the Seller transfers ownership title to the Buyer, and the unloading of the vessel starts.
12. The next shipment will occur as per the contract.
