Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 3K views

    B-Loi-Heavy Crude Oil-20060801

    Uploaded by

    bimobimoprabowo
    This letter of intent is from XXXXXXXXXXXXXX Co., Ltd. to purchase heavy crude oil from an unnamed seller. The letter outlines a trial shipment of 50,000 MT with potential quarterly contracts of 50,000-100,000 MT for 3 months or annual contracts of 12 months. Key terms include heavy crude oil of API 22 quality, loading from Indonesia, Malaysia, or Singapore ports to China ports, payment via letter of credit, and a price based on Brent market wire price less $4/barrel discount. Upon a successful trial shipment, the parties would finalize a one-year contract.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    B-Loi-Heavy Crude Oil-20060801

    Uploaded by

    bimobimoprabowo
    3K views3 pages
    This letter of intent is from XXXXXXXXXXXXXX Co., Ltd. to purchase heavy crude oil from an unnamed seller. The letter outlines a trial shipment of 50,000 MT with potential quarterly contracts of 50,000-100,000 MT for 3 months or annual contracts of 12 months. Key terms include heavy crude oil of API 22 quality, loading from Indonesia, Malaysia, or Singapore ports to China ports, payment via letter of credit, and a price based on Brent market wire price less $4/barrel discount. Upon a successful trial shipment, the parties would finalize a one-year contract.

    Original Title

    B-LOI-HEAVY CRUDE OIL-20060801 (1)

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This letter of intent is from XXXXXXXXXXXXXX Co., Ltd. to purchase heavy crude oil from an unnamed seller. The letter outlines a trial shipment of 50,000 MT with potential quarterly contracts of 50,000-100,000 MT for 3 months or annual contracts of 12 months. Key terms include heavy crude oil of API 22 quality, loading from Indonesia, Malaysia, or Singapore ports to China ports, payment via letter of credit, and a price based on Brent market wire price less $4/barrel discount. Upon a successful trial shipment, the parties would finalize a one-year contract.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3K views3 pages

    B-Loi-Heavy Crude Oil-20060801

    Uploaded by

    bimobimoprabowo
    This letter of intent is from XXXXXXXXXXXXXX Co., Ltd. to purchase heavy crude oil from an unnamed seller. The letter outlines a trial shipment of 50,000 MT with potential quarterly contracts of 50,000-100,000 MT for 3 months or annual contracts of 12 months. Key terms include heavy crude oil of API 22 quality, loading from Indonesia, Malaysia, or Singapore ports to China ports, payment via letter of credit, and a price based on Brent market wire price less $4/barrel discount. Upon a successful trial shipment, the parties would finalize a one-year contract.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 3
    At a glance
    Powered by AI
    The letter discusses a potential crude oil purchase agreement between two companies.

    Heavy crude oil with an API of 22.

    Payment via an irrevocable, revolving, fully cash-backed letter of credit issued by a first class bank and payable at sight.

    Reference No.

    Date: 08th June, 2020

    TO: SELLER
    Via: Siriwan international trading
    Mr. Wannupa & Sophanh Director CEO

    LETTER OF INTENT

    Dear Sir,
    We, XXXXXXXXXXXXXXXXX., are the authorized agent of the undersigned XXXXXXXXXXXXXXX
    Co., Ltd. with registration No.XXXXXX, represented by Mr. Huang Jun, Manager of Energy and
    Chemical Business acting on the basis of character with full corporate and legal responsibilities as
    the Off Taker with legal authorities, hereby confirm that we are ready, willing and able to purchase
    the Medium Crude Oil while ensuring that the funds are clean and clear USD is not subject to
    criminal or terrorist causes or effects.

    COMMODITY INFORMATION
    PRODUCT: HEAVY CRUDE OIL

    QUALITY: ANNEX CERTIFICATE OF QUALITY

    QUANTITY: 50,000 MT (350000 BALLELS) TRIAL AND 50,000~100000 MT


    (350000~700000 BALLELS) PER MONTH * 3 MONTHS QUARTERLY
    CONTRACT OR 12 MONTHS ANNUAL CONTRACT WITH POSSIBLE
    ROLLS & EXTENSIONS

    CONTRACT DURATION: FIRST TRAIL SHIPMENT, UPON NSUCESSFUL THEN CONTRACTED


    ON EVERY QUARTERLY (3 MONTHS) OR ANNUAL (12 MONTHS)
    BASIS AFTER NEGOTIAITON WITH ROLLS EXTENSION UNTIL
    TERMINATED BY EITHER PARTIES WITH 1 MOTNH ADVANCE
    NOTICED

    TARGET SHIPMENT 1 SHIPMENT PER MONTH

    LIFTING / DELIVERY 1 SHIPMENT PER MONTH

    SHIPMENT CIF P.R. OF CHINA PORTS NOMINATED BY BUYER (TBA)

    CERTIFICATE OF ORIGIN: CERTIFICATE OF ORIGIN ISSUED FROM INDONESIA

    LOADING PORT: AT SELLER OPTION : LOADING AT INDONESIA OR MALAYSIA OR


    SINGAPORE

    DESTINATION PORT: ZHUHAI PORT OR QINGDAO PORT , CHINA

    DELIVERY: CIF DISCHARGE PORT

    Page 1 of 3
    PRICE: THE PRICE FOR EACH BARREL OF HEAVY CRUDE OIL DELIVERY
    OUT-TURNED BALLELS SHALL BE BASED ON A DISCOUNT FRO THE
    MCGRAW HILL BRENT MARKET WIRE PRICE, DATE OF DELIVERY,
    LESS DIECOUNT USD$4.00.

    PAYMENT TERMS: PAYMENT BY AN IRREVOCABLE, REVOLVING, FULLY CASHES


    BACKED DOCUMENTARY LETTER OF CREDIT ISSUED BY FIRST
    CLASS BANK AND PAYABLE AT SIGHT AT BUYER’S BANK AGAINST
    PRESENTATION OF THE SET OF ORIGINAL DULY SIGNED SHIPPING
    DOCUMENTS.

    PERFORMANCE BOND 2% OF THE DLC VALUE

    TERMINAL AGREEMENT SHALL BE SUBMITTED WITHIN 72 HOURS AFTER RECEIPT Q88 & BL

    QUALITY & QUANTITY SGS OR OTHER INTERNATIONAL RECOGNIZED SURVEYOR


    DETERMINATION

    Remarks: 1. Verification as to quality and quantity shall be arranged by Seller at the loading port at
    Seller’s expense, and Buyer shall be responsible for the same such arrangement and
    expenses at the port of discharge.

    2. After successful initial trial shipment, Seller arranges the TTM for both parties to make
    a serious summary to adjust the operation of the problems, agreed on the best long-
    term cooperation pattern. Seller and Buyer will officially sign the 1 year (12 months)
    long term contract.

    Thank you for your kind attention and looking forward for your prompt confirmation.

    Sincerely,

    XXXXXXXXXXXXXXXXX.,

    ……………………………………
    Mr. Eddy Chen, Director CEO

    Page 2 of 3
    CERTIFICATE OF HEAVY CRUDE OIL API 22 QUALITY

    Page 3 of 3

    You might also like