M100 (MAZUT)
June 15, 2014
SOFT CORPORATE OFFER
(Production Contracts)
Mazut M-100
We, as Mandate and on instructions from and on behalf of the supplier/seller, hereby offer with full corporate authority, the following product for sale:
Product: Mazut M100 Specification: In accordance with M100 GOST10585-75
Origin: Russia
Quantity: 50,000 -100,000MT x 12 (Payment by Transferable DLC) Over 100,000MT x 12 (Payment by SBLC or BG only)
Supply Quality: Standard Export Quantity
Price: USD $495.00 per MT CIF ASWP
Payment: Transferable SBLC or Transferable BG or Transferable DLC (as above based on quantity) from top 100 world bank with 13 Months validity, as security. Payment by TT or MT103 Field 23 to Seller’s bank within 5 business days upon receipt of product at destination port.
Specifications:
Russian M100 GOST 10585-75 Specification
| COMPONENT | RESULT | ||
| 1. | Ash content, not more % | 0,14 | |
| 2. | Mass fraction of sulphur, not more % | Low sulphur residual oil | 0,5 |
| 3. | Temperature of the flash, not less oC | In the closed crucible | |
| In the open crucible oC | 110min | ||
| 4. | The temperature of solidification, not higher oC | 25 | |
| 5. | Kinematics viscosity | 118 max | |
| 6. | Water content | 0,5% | |
| 7. | Mechanical impurities | Lower than 0.1% | |
| 8. | Acidity | Lower than5mgOH/100ml | |
| 9. | Alkalinity | Nil | |
| 10. | Gross Calorific Value Kcal/kg / KJ/kg | Min 9200/41300 |
| 11. | Density at 15.0 deg. C kg/l | 0.8900-0.9200 | |
| 12. | Hydrogen Sulfide Content (H2S) ppm | 0.5 max | |
| 13. | Carbon Residual | Lower than 7% | |
| 14. | Vanadium (V) ppm | 23 | |
| 15. | Aluminium (Al) ppm | 5 | |
| 16. | Silikon (Si) ppm | 12 | |
| 17. | Nickel (Ni) ppm | 29 | |
| 18. | Asphaltenes m/m | 3.6% | |
| 19. | Destilation @4 mm Hg Extracted to 760 mm Hg | ||
| Initial Boiling Point deg. C | 216 | ||
| 5% recovered deg. C | 259 | ||
| 10% recovered deg. C | 310 | ||
| 20% recovered deg C | 358 | ||
| 30% recovered deg C | 445 | ||
| 40% recovered deg C | 502 | ||
| 50% recovered deg C | 524 | ||
| 60% recovered deg C | 538 | ||
| 75% recovered deg C | 545 | ||
| 80% recovered deg C | |||
| 90% recovered deg C | - | ||
| Final Boiling point deg C | 550 | ||
| Percent Recovered Vol | 78% | ||
| Residue Vol | 22% | ||
| Total Nitrogen m/m计 | 0.192% | ||
| 20. | Sodium (Na) ppm | 15 |
Procedure:
1. Seller issues SCO (this document)
2. Buyer issues ICPO with Company Letterhead
3. Seller issues FCO with Seller details. Buyer conducts all necessary due diligence, verifications. When satisfied, counter-signs FCO and returns to Seller.
4. Seller issues draft SPA contract for amendments.
5. Buyer electronically signs SPA Contract and returns to Seller for countersigning. Electronically signed SPA shall be considered as final legal contract with same solemnity as an original hard copy contract. Hard copies of SPA via courier service is waived.
6. Both parties inform their respective banks of pending bank-to-bank communication.
7. Within 5 business days of executing final contract, Buyer’s bank sends Letter of Readiness via MT199, or in any other form of communication, to Seller’s fiduciary bank, to advise readiness to send irrevocable, divisible, transferable, non-operative TDLC by MT700, or SBLC/BG by MT760. Prior to or immediately after the formal send-off to Seller’s fiduciary bank, a copy of the message must be provided to the Seller to enable him to prepare or alert the bank to be aware of the Swift message.
8. Both parties lodge contracts in their Respective banks.
9. After Seller’s bank responses via MT199 that it acknowledges receipt of communication, within 3 business days, Buyer’s bank issues the non-operative irrevocable, confirmable, transferable SBLC/BG, TDLC (for quantity 100,000MT or less) with TT commitment via SWIFT MT760 for SB|LC/BG, or MT700 for TDLC respectively from a top 100 world prime bank.
10. Upon receipt of non-operative SBLC/BG, within 5 business days, Seller issues operative 2% Performance Bond (PB) and the following Partial Proof of Product (POP):
-Copy of Approval to Export
-Copy of Export License
-Copy of Statement of Availability of Product
-Copy of Refinery Commitment to Produce the Product
Should the instrument issuing bank is capable of issuing only operative instrument from the start, Buyer may request seller’s fiduciary bank to issue a prior commitment via MT199 that it shall issue an operative 2%PB upon receipt of Buyer’s operative financial instrument.
11. Buyer and Seller’s banks agree on the final payment.
12. Within 11 business days after receipt and acceptance of operative financial instrument, SELLER issues remainder of full Proof of Product (POP) documents:
- 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
13. Delivery commences as scheduled.
14. Upon receipt of the product at the unloading port and within 5 banking days, Buyer pays Seller via TT wire Transfer MT103 or MT103/23.
15. Upon arrival of vessel and inspection and receipt of payment by Buyer, Seller pays agents commission.
This soft corporate offer is valid for 15 days from the above offered date. Price and terms may subject to change without notice after the expiry of this offer. Therefore, please re¬confirm price, terms and conditions.