Crude Palm Oil

6)                  Buyers Bank sends proof of funds to show readiness to issue Letter of Credit (L/C) as per contract

5)                  Sellers Bank sends to Buyers Bank proof of Product (POP) via fax or email

4)                  Buyer to return FCO with acceptance letter and draft Contract to Seller

3)                  Seller to issue Full Corporate Offer (FCO) and draft Contract to Buyer

2)                  Buyer sends Letter of Intent (LOI) or irrevocable Corporate Purchase Order  (ICPO) with Bank Comfort Letter (BCL) to Seller

1)                  Seller issues Soft Offer

General Transaction Procedures

If a deal is coming through Buyers and Sellers mandate, agent, or intermediary, a NCNDA have to be signed by all parties including the Buyer to protect everyone interesting in the transaction.

Confirmed 100% Standby Letter of Credit at Sight (SBLC), Bank Guarantee (BG) and / or Documentary Letter of Credit (LDC) which is revolving, irrevocable, divisible and transferable confirmed y HSBC Singapore or other acceptable banks in Singapore. Or TBA

Proposed Payment Terms

1. Proposed Quantity 120,000 mt to 240,000 mt (Annual)
2. Contract Length 12 consecutive months supply contract
3. Delivery Schedule As per final Contract
4. Extra Quantity Can be arranged
5. Packing and Marking Bulk in Tanker Vessel
6. Loading Port port at Malaysia (Buyer shall engage appropriate vessel to take the delivery)
7. Inspection  - by SGS or equivalent survey company by both parties
8. Destination Buyer to confirm
9. Market Price based on MPOC closing price on the very day (Today quoted price is approx USD 628/ mt. FOB)
10. Discount TO BE DISCUSSED
11. Validation 7 days from issuance date

Details of the Soft Offer herein below 

Crude Palm Oil
Specification : based on PORAM Spec