Petroleum products

The executive branch of our company specializes in sale of Petroleum based commodities such as Diesel EN 590 10ppm, Gasoline and Jet Fuel A1.

Petroleum products are sold through a rigid and efficient order & purchase process ensuring efficiency and precise execution of deliveries.

Our approach to sale of Petroleum commodities is based only on year-long contracts with prolongation option.

Please keep in mind that below presented procedure is the only procedure that we are working with. No other procedure will be neither considered nor reviewed.

Order and purchase procedure

Buyer submits on their corporate letterhead standard LOI introduction and states agreement with Seller's working procedure in full (points 1-7 of this section).

CIF BASED SALES PROCEDURE.

1. Sales activation stage.

a. The buyer sends an LOI on letterhead containing introductory information about the company, authorized signatory, product name, monthly need for the product, final destination (port of delivery). The seller confirms the delivery parameters to the buyer.

b. The Buyer issues to the Seller an ICPO - an irrevocable collective order for the supply of Goods with BCL (Bank comfort letter confirming adequacy of funds to conduct the purchase) with copy of their CIF storage capacity agreement confirming ability to unload the product at the point(s) of delivery.

c. The Seller sends to the Buyer an official SCO/FCO, which includes terms and conditions and the procedure for concluding the Contract. The buyer signs the SCO/FCO.

d. The Seller sends to the Buyer a draft Contract Agreement, for approval. The Buyer returns to the Seller purchase and sale agreement approved with their signature and seal.

2. Purchase and Delivery Process.

a. The Buyer, through his Bank, issues DRAFT of Irrevocable, Transferable SBLC containing the total value of one-month purchase quantity for a period of one year and one day (or one year and one month).

b. The Seller, after checking, confirms the details of Draft and informs the Buyer. After receiving the official SBLC from the Buyer, Seller begins shipment of the Goods.

c. The Seller completes preparation, production, arranges delivery of the Goods to the port of loading within 21 calendar days, and ships the product to the end destination after the Buyer fulfils clauses (a) and (b) of this Procedure.

d. The Seller at the point of shipment receives from an independent accredited company a final SGS Certificate confirming the quality and quantity of the Goods loaded onto the vessel.

e. The Seller, within 12 – 24 (twelve – twenty-four) banking hours, from the moment of loading the Goods onto the ship, transfers all documents confirming the availability of the Goods, a full POP, first to its Bank, and then sends it to the Buyer’s Bank.

f. The Buyer, within 72 banking hours after completion of shipment of the Goods and receipt of documents - full POP, pays the cost of the Goods in favor of the Seller through payment MT103//TT (bank-to-bank).

g. Full delivery of the Goods is made in full compliance with the requirements of the annual Contract and in accordance with the Delivery Schedule.

Incomplete or partial LOI will not be taken into consideration. Thank you for your understanding.