Delivery: From Louisiana NORCO Port Terminal's Tank(s)
Selling-Quantity: 50,000mt ~ 1,000,000mt per week
Duration: 52 weeks plus rolls and extensions
Specifications: See page 4 of this Offer
Price: Platts Market Price US$605.00mt – Purchase Price US$602.00mt
This Price of $US$602.00mt was calculated on NWE Platt's Price (US$605.00mt) minus US$3.00mt. The price can be changed without notice to NWE Platt Market Price minus US$3.00mt calculated over a three day average.
US$1.97 gallon (US$602.00 ÷ 306 gallons per mt = US$1.97)
306 gallons per mt calculation - *as per Shell D6 density
1000kg (mt) ÷ 0.863kg/litre (density) = 1158.75 (litres)
1158.75 (litres) x 0.264 (gallons/litre) = 306 gallons per mt
Commissions: US$5.00mt paid by Buyer as per IMFPA plus rolls and extensions
US$2.50mt to Seller side Paymasters (Closed) plus rolls and extensions
US$2.50mt to Buyer side Paymaster (Open) plus rolls and extensions
Payment-Term: Commercial Invoice per Tranche Quantity is presented as soon as supplier provides the Pipeline Injection Receipt on which the Invoice calculations of quality, quantity and price are based. Buyer shall effect payment of the full 100% Value of the Commercial Invoice via WIRE/SWIFT Fund Transfer MT103 per Tranche Quantity delivered within two (2) banking days from delivery and goods will not be permitted to leave the delivery point before payment.
PROCEDURE: (Strictly Refinery and cannot be changed)
1. Buyer issues LOI / ICPO which is exchanged by ETD (Electronic Transmission Data). Some form of appropriate evidence of financial capability at the discretion and convenience of the prospective Buyer but which the Seller may independently verify is also required along with a basic Corporate Profile or KYC synopsis. Banking and/or probing authorization to be provided as and when may be applicable.
2. Seller issues draft SPA open for Buyer’s amendments, signing and stamping.