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ICPO To End Seller

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6 views2 pages

ICPO To End Seller

Uploaded by

Zolo Liban
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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IRREVOCABLE CORPORATE PURCHASE ORDER (ICPO) TO PURCHASE

DESEL EN 590 /AVIATION JET FUEL ANNUAL CONTRACT

Date: 05 February , 2024

To: Al Ghazal International Energy L.L.C


Att.: Mr. Mohammed Amin
Via: Mr. Mohammed Kirisha and Mr. Amer Kayed

Dear Seller ,

We, XXXXXXXXX. together with our JV Partners legally represented by XXXXXX, hereby state that it is our intention, jointly with our
partners, to complete the purchase of JP54 in the quantity and for the price as specified in the terms and conditions as stated below
and subjected to verification of identity of seller and reaching mutual agreement about S&PA.

DETAILS OF THE LOI:

COMMODITY: AVIATION JET FUEL, EXPORT QUALITY COLONIAL GRADE JP54 / EN590 10 ppm

SPECIFICATION: TO BE SPECIFIED IN THE CONTRACT (the attached spec sheet)

ORIGIN: TBA

DELIVERY: FOB FOB Fujairah Tank to Tank or Tank to Vessel

TARGET PRICE: FIXED PRICE US$XXX/ BBLS/TON OR PLAT MED MINUS DISCOUNT OF US $ XXX PER BARREL/TON.

COMMISSION: Each party pays the commission to his side as agreed

QUANTITY: TOTAL OF UP TO XXX,000,000 BARRELS/ TON PER MONTH X 12-MONTHS CONTRACT.

PAYMENT TERMS: Wired Transfer MT103 / TT

INSPECTION: SGS or equivalent BEFORE LIFTING ON SELLER’S ACCOUNT.

PERFORMANCE BOND: SELLER SHALL PROVIDE 2% PB

PROCEDURES
1) Buyer issues ICPO with full banking information along with KYC
2) Seller issues an Invoice (CI) for the available quantity in the Seller’s Storage Tank to the
Buyer.
3) The buyer signs and returns the CI to the Seller.
4) The seller sends the SGS report or any other proof of availability of the fuel in Fujairah
5) Buyer issues Mt 199 to Seller's account.
6) Seller presents the following documents to the Buyer to conduct a Dip Test in Seller’s
tank:
a) Storage receipt (TSR)
b) Unconditional DTA
7) Buyer conducts Dip Test in the Seller’s Tank and upon successful Dip Test immediately
provides the Seller with Q88 or TSR
8) Seller and Buyer sign NCNDA/ IMFPA with intermediaries for non-disclosure and
payment. Commission to be paid out immediately upon receipt of payment from the
buyer.
9) Buyer issues 100% MT103/TT Wire Transfer payment to the Seller. Seller transfers the
Title of the product Ownership to the Buyer.
10) Seller and Buyer sign Tank to Vessel or Tank to Tank Injection Agreement (TTVIA)/(TTTIA)
to commence injection of the product into the Buyer’s vessel/Tank.
11) The buyer and seller sign a long-term contract for the consistent supply of mutually
agreeable quantities.

Buyer Details :
:Company Name
:Address
Director
Telephone number
:Fax
: Authorized Agent
:Telephone Number
:E-mail Address

Buyer Banking Details :

: Bank Name
: Bank Address
: Bank Officer
: Telex No.
: Swift Code
: Account Name
XXXXXXXXXXXX : Account No.

* END *

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