Spot deal for December and January. Can turn into a 12 month contract after that. Price: NWE Platts -$10/-$9
FOB Rotterdam
Procedures: 1. Buyer issues NCND/IMFPA along with ICPO with banking details
2. Seller issues Draft Contract
3. Buyer Signs and Returns draft contract
4. Buyer Bank Issue to Seller Bank- Standard Chartered London Pre-Advice LC as to Payment Terms of Contract (RWA / BCL – Workable Upon Standard Chartered Bank Acceptance and Confirmation).
5. Seller Bank Issue Buyer Bank Partial POP
6. Buyer Bank issue to seller bank non-operative non/Transferable DLC
7. Seller Bank upon receipt of the Financial Instrument Non Operative/Transferable DLC via SWIFT issues within 3-5 Bank Days FULL POP and COMMERCIAL INVOICE
8. Buyer Bank Verifies POP on Day of POP Issue, Activates DLC, as per Volume Liftable Against Title Transfer.
9. Payment of Subsequence Lift will be executed by MT103/23 OR RDLC
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Trade Leads Directory -> All Trade Leads -> Chemicals -> Petroleum Products: Fuel Oil -> 5,000,000 bbls JP 54 spot deal available right now
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