SAUDI LIGHT CRUDE OIL (SLCO)

SAUDI LIGHT CRUDE OIL (SLCO)


1. Product:
2. Origin:
Kingdom of Saudi Arabia
Five (5) Million BBLS Per Month
3. Quantity:
4. Term Of Contract:
5. Price:
12/60 Months
Brent Platts Price of the day of TTM, Minus 10 % Gross
6. Discount:
10% Per BBL Gross / 7% Net to Buyer
7. Commission
2% Buyer Side Facilitator And Agent / 1% Seller Side(CLOSED)
8. Specifications:
9. Delivery:
Standard Export Specs
CIF AWSP
10. Payment:
BG for 1.5X Month
11. Inspection:
SGS
OPERATION PROCEDURES:
1. END-BUYER sends ICPO with bank coordinates & company profile
2. END-BUYER sign Appendix “P” with the contract, if there are any intermediaries(IMFPA)
3. END SELLER issues a DRAFT CONTRACT and sends to END-BUYER
4. END-BUYER makes his amendments signs and sends back to END-SELLER
5. If END-SELLER agrees with the amendments of the END-BUYER, Seller sign Seal and send
back to buyer.
6. END-BUYER lodges the contract to their RESPECTIVES BANKS. Then Buyer Bank will issue
within 5 working days a RWA to the seller, Buyer will send a copy of the RWA to the
seller so he can submit it with the contract to his bank. Buyer bank will issue to seller
bank direct MT799 open.
7. Buyer bank request from seller bank confirmation of PPOP availability and PB of 2% to
guarantee the product supply. At that time will set up the TTM. At the TTM the buyer
gets full POP for the entire contract.
8. END-BUYER opens BG For 1.5 Month
9. Shipment commences as per contract, within 2 weeks or less
NOTES:
1. This offer is valid for 1 weeks
2. No changes on Procedures will be accepted
3. ICPO ON REFINERY LETTERHEAD ONLY