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-Straight run: Yes
-Delivery Terms: Ex-works Houston tank farm
-This means buyer is responsible for transporting the crude to buyer¡¯s end user or export port for FOB Houston purposes.
-Spot Quantity: approximately 400,000 barrels
-Contract Quantity: negotiated between seller and buyer
-PLATTS DISCOUNT: -$3.00 gross/-$2.00 net to buyer per barrel
$1.00 per barrel consulting fees to intermediaries paid by the Seller.
Seller¡¯s side, $0.50 (CLOSED)
Buyer¡¯s side, $0.50 (OPEN)
1. Buyer supplies Company Profile/ Information
2. Seller does Due Diligence on the Buyer¡¯s Company
3. Buyer and seller have a Conference Call
4. Seller issues CI (Commercial Invoice)
5. Buyer returns CI signed
6. Seller gives fresh SGS and other docs
7. Buyer verifies SGS
8. Buyer pays and lifts
9. Seller transfers title to buyer
10. Seller pays intermediaries consulting fees with rolls & Extensions
11. Buyer and Seller work out contract for future lift
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