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PORAM specification of CPO:
Parameters | Specification |
Free Fatty Acid (as Palmitic) | 5.0% MAX |
Moisture + Impurities | 0.5% MAX |
Iodine Value (Wijs) | 50-55MIN |
Slip Melting Point | 33-39 Degrees C |
Dobi Value | 2.31MIN |
Country of Origin | Malaysia |
Supply capacity per month: 50,000mt/month
Price: US$985/MT (valid until 05th June 2008, 12.00 noon GMT +8:00), FOB Port Klang.
Duration of contract: Twelve (12) consecutive months from the first shipment
Packing: Bulk in Tanker Vessel
Inspection - Quality and Quantity Determination
SGS Independent Surveyor Company shall be appointed at designated loading port, to assess the quality and quantity of the cargo. The Seller will pay the total inspection fee, as per the Surveyor's invoice.
Terms of payment: 1 Month Value Bank Guarantee (BG) + BLC
Performance Bond: Seller shall post a performance bond equivalent to the sum of 2% of the shipment value.
Transaction Procedure:
1. Buyer send valid Letter Of Intent (LOI) with full banking co-ordinates with soft probe authorisation or Bank Comfort Letter (BCL) that clearly states that the buyer is able to purchase the stated quantity of crude palm oil at the quoted price to the Seller.
2. LOI must be on Buyer's letterhead.
3. LOI must contain full verifiable contact details of Buyer
4. LOI must be of current date and not older than 10 days.
5. Seller send draft contract on Seller's company letterhead duly signed and sealed.
6. Buyer amends or accepts the terms and conditions of the draft contract and returns to Seller.
7. Seller sends the duly signed and sealed contract with necessary amendments in hard copy to Buyer.
8. Buyer duly signs and seals the contract and return to seller.
9. Delivery and shipment will commence as per the schedule in the contract.
10.Buyer is allowed to be present at the loading port at the time of inspection at his own cost