Product: Crude Palm Oil (CPO)Origin: MalaysiaSpecification: As per PORAMFFA (As Palmatic): 5.0% MaxM&I: 0.5% MaxI.V (Wijs): 50 to 56 min.m/pt degrees C (AOCS Cc 3-25): 39 maxDOBI value: 2.31 min. ========================================Price: US $931/MT (May 2008)Volume: 10,000 MT - 50,000 MTTerm: Safe FOB Port Pasir Gudang / Port KlangContract: 6 Months - 36 MonthsQuality: SGS AssurancesPerformance Bond: 2% issued by the SellerBanking: Instrument - BG + RDLC or BG + TT or SBLCSupplier: Buy direct from Prime Seller ======================================== Procedure: 1. Buyer issues LOI / ICPO with banking coordinates.2. Seller issues CONFIRMED FCO + BCL + SGS + POP + DRAFT CONTRACT upon completion of successful soft probe.3. Buyer & Seller sign and seal the contract with banking.4. Buyer's bank sends per-advised STANDBY LETTER OF CREDIT.5. Seller posts 2% performance bond after Seller received and authenticates the SLBC.6. Delivery commences at dates schedule and agreed by both parties.7. The Seller shall issue the first cargo after received hard copy or after authenticatedhard copy SBLC's from buyer's bank.8. Each party hereto will bear its respective banking costs/charges should anyammendments to the STANDBY LETTER of CREDIT be requested once the same hasbeen issued, then the party requesting the change will be responsible for the payment ofthe related costs, unless changes are needed to construct the instruments in compliancewith this CONTRACT, then the cost should be borne by the faulting party.
