General Terms & Conditions
ICC WARNING
From now on, if an ICPO, LOI, RWA, or BCL is issued and the document is not real, true and/or actually verifiably factual, the Seller will be able to inform the FBI, ICC, and INTERPOL. In addition, after a CI is sent to the Buyer, there should be a formal answer to Seller from Buyer in a timely manner in accordance with the agreement between parties.
If there is no response from the Buyer in a timely manner, the buying company will be reported to the FBI, ICC and INTERPOL. If this action is repeated by sellers, they too will also be reported for abuse of the NCND, LOI, ICPO, AND RWA OR BCL, and FOR THIS IS NOW A FEDERAL OFFENSE.
It is important to transmit this to all clients that work with providers that are members of the ICC, FBI, and other international organizations. From this point forward, the international codes will be strictly enforced to exclude all intruders that send or transmit false information. Those who submit a false NCND/IMFPA, LOI, ICPO, RWA or BCL, or FCO, as well as FALSE PROOF OF PRODUCT (POP), FALSE PROOF OF FUNDS (POF) WILL BE CHARGED WITH A CRIME.
This offense went into effect on November 15, 2008 after a meeting was held between the Federal Reserve, European Central Bank, Interpol, Federal Bureau of Investigation and Central Intelligence Agency. The reason for this measurement is to protect the commodities industry which is a fundamental part of the world’s economy. I have read and understood the severity of the warning above and do realize the serious impact that pertains to all oil and other commodities transactions. Penalty clause: Non performed side paid 2% of total contract value agreed
Fuel Trading Myths
Lots of buyers, mandates, and intermediaries are operating in the market with the myth that the DIP & PAY procedure is available without any financial or logistical commitment or demonstration by buyers. We can facilitate DIP & PAY only in extremely rare cases depending on the profile of the buyer company. Such procedures are usually at prevailing Platt prices for end burners or registered vendors of burners who can demonstrate both financial and logistical readiness as per industry standard norms.
Key Commercial Factors
Important Points to be Considered
Availability
Across all major terminals
Jet A1 is regularly available at Rotterdam and periodically across all the other major terminals of Houston, Fujairah and Jurong. MOQ is 1,000,000 Bbls.
EN 590 10 ppm is regularly available at Rotterdam and Fujairah and periodically across all other major terminals of Houston, & Jurong. MOQ is 100,000 MT
Virgin D6 Marine Oil is regularly available in Rotterdam and periodically in Houston. MOQ is 100,000.000 gallons
Mode of Delivery
Delivery Mode is TTT and TTV
We can facilitate delivery in both Tank to Tank and Tank to Vessel Mode.
Key Requirements from Buyers
Pre-requisites for delivery
We expect our buyers to have European TSA/CPA which are registered with Rotterdam terminal authority. Buyers should be able to get any of the documents endorsed by the logistics company before getting access to POP documents
1. Refinery Commercial Invoice
2. DTA issued by refinery
3. Attorney conformation letter for payment capability after receiving of full POP documents.
Supply capability
Volumes & Availability
We are constantly working to improve our offerings and expand upon our capabilities. Our expert team of professionals is passionate about developing the most sought after fuel trading platform in the market. Ready to experience the future? Get in touch.
