EN590 Buy Requirement from China - 26-Dec-2024

Dear Sir,

We want to buy EN590 10 PPM, 1
million tons per month,
unit price: USD 520/MT,

Origin: Netherlands
Commission: 50% Buyer side, 50%
Seller side
Contract Term: 12 Months minimum
(with rolls and extensions)
Payment Term: MT 103 TT
Wire Inspection: Q&Q /CIQ / SGS
Delivery: FOB rotterdam / FOB
Houston FOB Fujairah / Jurong
Trading Method : FOB TTV or TTT

Transaction procedure: (tank to tank
tank to vessel)
1. Buyer confirms soft offer and issues
ICPO along with Charter Party
Agreement (CPA/TSA) for seller's
approval

2. Seller issues commercial invoice (Cl)
for the available quantity in the
seller's storage tank, Buyelsigns
Cl and return

3. Seller provides the following
Partial Proof of Product (PPOP)
documents to the buyer.

Tank storage reservoir receipt

Product passport report

Title Transfer Affidavit document

Certificate of origin

*DTA (to be endorsed by buyer and
buyer shipping company to program
dip test in seller's tank)

4. Buyer conducts the quality and
quantity SGS inspection. Upon the
satisfactory dip-test report, the buyer
pays the seller for the total cost of
the product.

5. The seller transfers title to the
buyer and injects the product into the
buyer's reservoir or vessel Necessary
documents like the irrevocable Pay
master Agreement (IPA) or Tank
to Vessel injection agreement
(TTVIA/TTTIA) is signed by the
seller and buyer before pumping.

6. The seller pays commissions to
all intermediaries within 48 hours
after receiving payment from the
buyer.

7. The seller and buyer sign a contract
for a 12-month shipment if necessary
and satisfactory. The buyer schedules
for the dip test at the seller's tank
storage.

Thank you.

Contact: Mr. Lian
Company: Cathay Energy Group Investment Limited

Posted on : 26-Dec-2024
Posted From : China

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