1. The oil source is Saudi Arabia2. Price: will be at standard oil price at date of closing3. Payment : Bank to Bank4. Minimun contract is 10 million bbl/mo for 5 years or5. Minimum of 15 million bbl/mo for 2 years with 3 year option6. Discount including commissions is 4% Procedure:1. Buyer issues an LOI (Letter of Intent which contains all the info ie.: contact person, Bank Account, Telephone, fax, email, etc.) 2. After LOI is verified, the buyer issues an LOC (Irrevocable Letter of Credit)This is a very brief view of the process. The fundamental issue is will the buyer be able to provide the LOI with all the necesary data?Please contact me if you have any questions.
