Crude Palm Oil

Product detail:

1. Product: Crude Palm Oil

2. Origin : Malaysia

3. Specification : As per Annex I

4. Quantity : Supply Per Month - 30,000 MT per month x 12 months

5. Contract Duration : One year contract (12 consecutive months) from 1st shipment with possible rolls and extension.

6. Shipment Quantity : Min of 25,000 MT / per shipment.

7. Price : FOB- 5% Discount from the MPOB price

8. Price basis : In the event of 5-10% declining of MPOB market price (West Malaysia or East Malaysia), the buyer and seller reserves the right to re-negotiate the selling price.

9. Port of Loading : Ports of Sabah (Tawau, Sandakan, Lahad Datu) with the option from Port Klang and Pasir Gudang Port.

10. Packing : In Bulk in tanker vessel

11. Delivery : 30 45 days upon receipt, verified and confirmed payment instrument. For the 1st shipment within thirty (30) working days. POP will be release after receive the bank confirmation of the fund via-preadvise.

12. Payment Terms : By Revolving, Non-Irrevocable-NonTransferable Documents Letter of Credit (LC) at sight.

13. Performance Bond : 2% PB from the total contact value against LC by the Seller.

14. Inspection : Quality, Quantity and Weight by SGS or similar at the loading port at Sellers expenses.

15. Transaction Procedure :
a) Seller issues Soft Corporate Offer (SCO) and Letter of Acceptance
b) Buyer sends the ICPO including the Bank Commitment Letter (BCL) to seller
c) Seller issues draft contract
d) Seller and Buyer sign contract via electronic mail. The hard copies to be exchanged later.
e) Buyers Bank issues LC via SWIFT
f) Seller issues 2% Performance Bond (PB) against LC.
g) Delivery starts with 30 45 days after confirmation bank instrument.

Thank you