D2: 1.5M MT X 12 Platt - $8 CIF ASWP + $3 commission
JP54: 1Mbbls X 12 Platt - $2 CIF ASWP + $1 commission
M100: 300K X 12 - $297/292 CIF ASWP, $5 commission
Commission is 100% Buy Side
Note: Buyer will not sell directly to Chinese companies. They will ship to China as long is the company they sell the product to is not based in China.
PROCEDURES
1. Buyer issues ICPO with Banking Information
2. Seller Issues the Draft Contract;
3. Buyer signs and seals the contract;
4. Seller signs the contract and returns to Buyer as final copy;
5. Buyer and Seller both lodge the contract in their respective banks;
6. Seller within 48 hours after returning final copy of contract will issue soft POP (ID allocation number and Certificate of Origin)
7. Buyer issues the text for the Irrevocable Documentary Letter of Credit ("DLC");
8. Seller approves the text for the Irrevocable Documentary Letter of Credit ("DLC");
9. Buyer Issues Irrevocable Documentary Letter of Credit ("DLC");
10. Seller issues Hard Proof of Product ("POP") including charter party lift schedules and prepares to deliver the products
11. Note: Buyer pays for each delivery via MT-103 within (5) days of ships tendering.
Buy Side Commission Structure
1/3 to CI
1/3 to Buyer’s Mandate
1/3 to Brokers
Note: CI has been in the logistics business for more than 20 years. They have performed D&D on the Seller. There D&D has shown that the Seller is a major company, recognizable. The Seller is the number one supplier of M100 to PetroChina.