Premium Motor Spirit
Premium Motor Spirit, also known as Mogas, Petrol or gasoline is used to power vehicles and generators that use internal combustion engines such as Motor vehicles and Power generators. Unlike Automotive Gas Oil which is used vehicle engines, D2 is the diesel fuel for diesel engines.
Dual Purpose Kerosene
Dual purpose kerosene can be used as aviation fuel (JET A-1), and as cooking and Lighting oil (Illuminating Kerosene –IK) hence its name dual purpose kerosene.
D2 Diesel Gas Oil
Diesel Gasoil (D2) is an abbreviation for Gas oil. It is the second distillate from the processing of crude oil. It can be used without reformers and additives. Diesel Gasoil (D2) is any liquid fuel used in diesel engines, whose fuel ignition takes place without any spark, as a result of compression of the inlet air mixture and then injection of fuel.
D6 Virgin Fuel Oil
D6 Virgin Fuel Oil is also being known as Residual Fuel Oil and is of High–Viscosity. D6 Virgin Fuel Oil is mostly used for generators.
The below Purchase Procedure is for the supply of Bulk Quantity (Above 50,000 metric tons) of Automotive Gas Oil (AGO) and all other refined Petroleum products. Click on the relevant tab to display to show the Purchase Procedure.
STANDARD BANKING/OPERATIONAL PROCEDURE (TTO OR CIF)
1.Buyer sends an ACCEPTANCE LETTER of this offer to Seller and Seller sends an INDEMNITY AGREEMENT of $1 million for Buyer to sign, NOTARIZE in court and return to Seller as a caution against failure from any party.
2.Seller sends contract SPA to Buyer and Buyer sign and return to Seller, the SPA with their ETA/NOR format, ATB Format and Q&Q Inspector ID.
3.Buyer’s Bank S.W.I.F.T via Mt-199 their Ready, Willing and Able Letter (RWA) to the Seller’s Bank STRICTLY according to the specified format.
4. Seller contracts their Consignor Refinery in Europe, obtains an allocation for the contracted quantity and send the following documents/Allocation Papers as Proof of Product (POP) to Buyer;
a. Refinery’s Commitment to produce the product for Seller
b. Refinery’s Statement of Availability of product for Seller
c. Refinery’s product Passport (Q&Q Report)
d. Legal Certificate of Origin of product in Seller’s Name
e. Refinery’s Export License.
f. Seller’s Certificate of Incorporation
g. Any other relevant document from the Seller as a proof.
5.Buyer confirms the POP and Buyer’s Bank issues their irrevocable, confirmable, transferable and confirmed cash backed Standby Letter of Credit (SBLC) covering the entire cargo in favour of Seller STRICTLY according the specified verbiage.
6. Seller loads a vessel and sends the Q88 of the vessel that will transport the product to Buyer’s discharge port and instruct the Captain of the cargo laden vessel to issue E.T.A (Estimated Time of Arrival) to Buyer’s Discharge port.
7. Buyer acknowledges the E.T.A within 24 hours by sending a Letter of readiness to receive the cargo as wells as their IMPORT LICENSE IF APPLICABLE.
8. The cargo arrive Buyer’s Port within 14-18 days after confirmation of Buyer’s Instrument and Seller release marine ATB for physical confirmation of cargo.
9. Buyer’s Inspector conducts Q&Q test and submit the report to the Bank of both parties via email within 12 hours.
10. Payment is made for the entire cargo by SWIFT transfer immediately to seller designated Account as shipping documents is sent to Buyer. Seller pays commission Agents according to the signed IMFPA within 72 hours. The cost of the bank transfer shall be borne by the recipient’s Bank.
STANDARD BANKING/OPERATIONAL PROCEDURE (FOB -All Products)
STANDARD BANKING/OPERATIONAL PROCEDURE (CIF-All Products)
Buyer's Specification
SWIFT RWA, SBLC Bank Guarantee
TTT: 7 days TTO: 10 days CIF: 14-21 days. Minimum of 5 years contract
PMS TECHNICAL SPECIFICATION
Specific gravity 60°/60 F…. (0.757-0,77 max)
