Bitumen
June 15, 2014
SOFT CORPORATE OFFER
Bitumen 80-100/60-70/60-90/40-50
We as Mandate, and on instructions from and on behalf of our principal Supplier/Seller, hereby with full corporate authority and responsibility offer for sale the following Russian Bitumen 80- 100/60-70/60-90/40-50:
Quantity Available: Minimum quantity 10,000MT/month – Maximum 150,000MT/month x 12 months, in drums.
Price: Fixed price – Gross$385 per MT CIF ASWP
Payment: By Bank Guarantee (BG) or Standby Letter of Credit (SBLC) or Transferable DLC, issued by a top rated international bank. Payment for settlement is made by TT MT103 or MT103/23 within 5 business days of arrival of goods at destination port.
Performance Bond: Buyer’s nominated fiduciary bank issues non-operative transferable BG or SBLC via SWIFT MT760 or non-operative, Transferable DLC MT700. Upon receipt, Seller’s nominated fiduciary bank issues 2% operative PB in the form of a BG MT760 to activate Buyer’s payment instrument. Buyer immediately issues operative SBLC, BG or DLC in response to the PB.
Procedure (non-negotiable):
1. Buyer after confirming soft offer and acceptance of all terms and procedure therein, issues ICPO with full banking and Company details addressed to Seller, c/o INTERNATIONAL PRODUCT ALLIANCE Ltd., with a letter stating Buyers acceptance and readiness to proceed with the transaction.
2. Seller confirms, approves ICPO and issues formal FCO with Seller details. Buyer to conduct Due Diligence as needed. Buyer signs and seals and returns FCO to Seller..
3. Seller issues draft SPA contract for amendments and Buyer signs, seals and returns signed SPA to Seller for counter-signing.
3. Buyer’s bank notifies Seller’s bank that buyer is ready, willing and able to issue bank instrument, a non-operative, transferable BG or SBLC or a non-operative transferable DLC.
4. Buyer’s bank issues non-operative BG / SBLC via MT760 or Transferable non-operative DLC via MT700 to Seller’s nominated fiduciary bank. Verbiage & format provided by Seller.
5. Upon receipt of the non-operative, transferable bank instrument, Seller or Seller’s refinery within 5 business days provides the following partial POP documents:
- Copy of License to Export.
- Copy of Approval to Export
- Copy of Statement of Availability of the Product.
- Copy of the Refinery Commitment to Produce the Product.
At this time, Buyer shall conduct adequate due diligence, verification and authentication to his own comfort level prior to proceeding.
6. Upon Buyer’s instruction to proceed, Seller issues 2% operative Performance Bond PB along with NCNDA/IMFPA to activate buyer’s non-operative bank instrument.
7. Buyer will within 3 banking days activate or issue operative SBLC/BG MT760 or DLC MT700 in response to seller’s operative PB. (Verbiage & Format to be provided by seller).
8. Within 11 eleven working days of receipt and acceptance of the operative bank instrument, seller submits product soft POP, and ETA to Buyer, and both party lodges the contract in their banks.
- Copy of Deeds/Title Ownership
- Copy of Origin (Representing the Allocation and Resource Number, Reference
- Number of POP, Authority Number, Name of Loading port with Contract Number)
- Product Analytic report (Indigenous Survey Company).
- Vessel Bill of Lading, Vessel Notice of Readiness, Authority to Board (ATB) and Estimate Time of Vessel Arrival (ETA)
- Product Proforma Invoice, SGS and Tank Receipt
9. After successful Dip Test, Q&Q, by Buyer. Buyer releases payment by wire transfer (MT103) to the Seller on out-turn shipment delivered.
SPECIFICATION
RussianBitumen80-100/60-70-90/40-50
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BITUMEN60/70 |
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| Specification | Test method | |
| Specific gravity@25/25 C | 1.01-1.06 | D-70 |
| Penetration @25C | 60/70 | D-5 |
| Softening point C | 49/56 | D-36 |
| Ductility@25C | 100 min | D-113 |
| Loss on heating(wt)% | 0.2 max | D-6 | ||
| Drop in penetration after heating% | 20 max | D-6 & D-5 | ||
| Flash point C | 250min | D-92 | ||
| Solubility in CS2 (wt)% | 99.5 min | D-4 | ||
| Spot test | negative | *A.A.S.H.O.T.102 |
This offer is valid for 15 days of issue and is subject to prior sale. After expiry, please re-confirm pricing and terms and conditions prior to submitting ICPO.