Onet

Company Description

Product: Crude Palm Oil (CPO)
Origin: Malaysia
Specification: As per PORAM
FFA (As Palmatic): 5.0% Max
M&I: 0.5% Max
I.V (Wijs): 50 to 56 min.
m/pt degrees C (AOCS Cc 3-25): 39 max
DOBI value: 2.31 min.

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Price: US $931/MT (May 2008)
Volume: 10,000 MT - 50,000 MT
Term: Safe FOB Port Pasir Gudang / Port Klang
Contract: 6 Months - 36 Months
Quality: SGS Assurances
Performance Bond: 2% issued by the Seller
Banking: Instrument - BG + RDLC or BG + TT or SBLC
Supplier: Buy direct from Prime Seller
======================================== Procedure:
1. Buyer issues LOI / ICPO with banking coordinates.
2. Seller issues CONFIRMED FCO + BCL + SGS + POP + DRAFT CONTRACT upon completion of successful soft probe.
3. Buyer & Seller sign and seal the contract with banking.
4. Buyer's bank sends per-advised STANDBY LETTER OF CREDIT.
5. Seller posts 2% performance bond after Seller received and authenticates the SLBC.
6. Delivery commences at dates schedule and agreed by both parties.
7. The Seller shall issue the first cargo after received hard copy or after authenticated
hard copy SBLC's from buyer's bank.
8. Each party hereto will bear its respective banking costs/charges should any
ammendments to the STANDBY LETTER of CREDIT be requested  once the same has
been issued, then the party requesting the change will be responsible for the payment of
the related costs, unless changes are needed to construct the instruments in compliance
with this CONTRACT, then the cost should be borne by the faulting party.