PETROLEUM COKE (PETCOKE)
Minimum Quantity: 50,000 MT
Maximum Quantity 300,000 MT
FOB Price: Gross $320:$310 Net
CIF Price: Gross $350:$340Net
PROCEDURES FOR CIF
1. Buyer accepts Sellerâ??s procedure and issues ICPO with the following: banking details, company
profile, and passport copy. 2. Seller acknowledges Buyerâ??s ICPO and issues contract to Buyer open for
amendment. 3. Seller makes the final signature, notarized the contract with appropriate authorities,
convert to
pdf and send to Buyer as final approved copy along with the following:
certificate export license
Certificate of Origin
c). commitment to supply
4. Buyer make 5% guarantee deposit via MT103/TT from product total to enable Seller chatter a
vessel and proceed to loading of product. 5. Buyer shall acquire the vessel information upon successful
guarantee deposit, and Seller shall
immediately issue w.o.t (warrant of title) & furnishes commitment letter to be signed by Buyer,
alongside shipping company before sending the below PPOP documents upon the receipt of the
endorsed:
commitment letter to supply,
certificate of incorporation,
product certificate of origin,
act of transfer commercial invoice,
company tax payer,
fresh SGS export report conducted in vessel quality specification
NOR (Notice of Readiness)
Bill of Lading and SGS report on loading, and
ETA (Estimated Time of Arrival)
6. Shipment commence as scheduled in the contract and upon arrival of the cargo at the discharge
port, Buyerâ??s inspection team carries out CIQ or SGS or equivalent inspection to ascertain quality
and quantity. 7. Product is discharged after successful inspection into Buyerâ??s storage facility, then
Buyerâ??s bank releases payment for total value of the product to Sellers bank within seventy-two (72) hours by
MT103 wire transfer. 8. Seller transfers title of the product to Buyer. 9. Seller pays all
intermediaries/parties involve as outline in the IMFPA