Russian LNG-LIQUIDFIED NATURAL GAS
Product Details
Under 50,000Mt x12 USD 590 Gross / 585 Net, Transferable L/C at sight
Over 1MillionMt x 12 and less USD 585 Gross / 580 Net, Transferable L/Cat sight
Refinery direct Russian Petroleum Products thru Authorized Distributor.
Distributorship is with Consortium of Seven Russian Refineries.
There will be No upfront Pipeline fees like Transneft fees.
End Buyer may not include any Banking Details, Soft Probe & BCL on the ICPO. After sending the ICPO & receiving the FCO/Draft Contract from Refinery, having Refinery Co-ordinates on the FCO/Draft Contract (usual reply from Refinery is within 36-72 hours after ICPO submitted), Buyer can Commit Due Diligence on the Refinery for Comfort level, if required, & if all is assured Banking with Soft Probe w/ BCL will be sent on & with the FCO/Draft Contract to us for processing.
We need to mention Two points that need to be clarified as Most Buyers feel is a scam:
1- There is a fee of USD$27,860 payable to the Legal Chamber affiliated to the Ministry of Energy and the Russian Chamber of Commerce. This amount Must be paid which is for Contracts must be legalized and Notarized . the Buyer will get an Official Invoice regarding that. This requirement been made in order to eradicate Scams where the Ministry because of the Notarization Protects the End Buyer from Fake Sellers & as well Protects the End Buyer from REAL Sellers when the Refinery does not do its Job in a timely manner.
2- There is a Escrow of 0.1% of the value of the First shipment. This is so because some End Buyers fail to commit to their contract & do not pay when the deal is intilaized where the seller/refinery bare costs of transportation of the Oil/Petroleum from the refinery to the Port of Loading. Most Buyers also are scared of Russian Escrow Companies. So the seller/refinery Consortium accepts that the Escrow can be the End Buyer's Bank.
REFINERY PROCEDURES:
1. Buyer confirms verbal offer and issues an ICPO with signed NCNDA
2. Seller(Refinery) issues FCO.
3. Buyer signs and returns FCO with acceptance letter which confirms payment of
Legalization Fee of contract as defined below, point 11 (eleven) and Escrow
Payment point 8 (eight).
4. Seller issues draft contract open for amendments.
5. Buyer returns signed draft Contract
6. Seller and Buyer signs IMFPA.
7. An Escrow Company is appointed to be instructed by both Buyer and Seller.
8. Both Parties deposit in 0.1% of first shipment value to the nominated
Escrow Services.
9. Seller issues a verifiable partial Proof of Product (POP) to Buyer
10. Both parties exchange hard copy contracts via courier delivers
11. Legalisation of Contracts
Contracts must be legalized and Notarized by the Ministry of Energy and the
Russian Chamber of Commerce upon invoice presented to the Buyer at the cost of approximately USD$27,860 payable to the Legal Chamber affiliated to the Ministry of Energy and the Russian Chamber of Commerce.
N/B: Sellers are answerable to the law chambers in the case of default and all fees/expenses accrued by the buyer are refundable to buyer as enshrined in the new NK Transneft rules and the law guiding exportation of crude Oil exportation under Russian federation
12. Both partys lodge contracts in their respective banks, Buyer and Seller Banks communicate and agree on the final wording of DLC
13. Buyers Bank Issues Proof of Fund, Seller's Bank replies with a Full Proof of Product via swift
14. Buyer's bank issues a confirmed Non-Transferable/Transferable, Divisible Documentary Letter of Credit, Sellers bank replies with a 2% Performers Bond.
15. Delivery commence as scheduled.
Russian LNG-LIQUIDFIED NATURAL GAS
- Type:LNG
- Brand Name:LNG
- Place of Origin:Russian Federation
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