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Oils & Fuels.

OIL AND FUEL PRODUCTS OFFER AND PROCEDURES

 

Richland Group is a trader company that performs business representing providers and refineries, using procedures that are totally safe as it transacts only bank to bank.

 

Richland Group sells to any end buyer and seller, including large providers which accept seller’s procedures and can perform businesses seriously and professionally.

PRODUCTS TO SUPPLY

 

1. Petroleum:

  • Jet fuels: JP54, JP8, Jet A1, Jet A1 91-91;

  • Fuel Diesels (D2, D6);

  • Automotive Fuel Diesels (EN 590, 10 ppm, 500 ppm, AGO, Biodiesel)

  • Gasoline (RON 88, RON 95);

  • CST, Mazut M-100/75/99;

  • Bitumen.

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2. LNG and LPG;

3. Helium Gas;

4. Edible Oils;

5. Coal;

6. Pet Coke;

7. Urea.

GENERAL TERMS

 

  • No POP before POF;

  • Providers and refineries supplies from his tanks and can lease tanks to buyers. They have fuel in tanks all the time;

  • Once buyer provided POF, buyer’s banker can request confirmation of POP existence, but POP is released only after the bank instrument.

FOB PROCEDURE

 

NOTE: As the procedure is bank to bank it is non-negotiable.

 

  1. Buyer sends LOI/ICPO;

  2. Seller sends SCO/FCO (addressed to buyer. Intermediaries are paid separately but the transaction is only between seller’s and buyer’s banks);

  3. Buyer returns SCO/FCO signed together with CIS (template provided by seller), copy of registration certificate, copy of signatory’s passport;

  4. Buyer sends the RWA letter and authorization to verify it;

  5. Seller’s bank sends the SPA and CI;

  6. Buyer’s bank sends the MT 799/Pre-Advice (verbiage provided by seller’s bank);

  7. Buyer’s bank sends MT 760/BG/SBLC (verbiage provided by seller’s bank);

  8. Seller’s bank (within 72 hours) provides SGS/POP/DTA in the name of the buyer at the loading port, including ATS, if required;

  9. Buyer performs dip test and seller delivers the fuel in buyer’s tank, vessel, etc.;

  10. Buyer’s bank pays by TT transfer and seller’s bank transfers the title to the buyer.

CIF PROCEDURE

 

NOTE: As the procedure is bank to bank it is non-negotiable.

 

  1. Buyer sends LOI/ICPO;

  2. Seller sends SCO/FCO (addressed to buyer.

  3. Intermediaries are paid separately but the transaction is only between seller and buyer and their banks);

  4. Buyer returns SCO/FCO signed together with CIS (template provided by seller), copy of registration certificate, copy of signatory’s passport;

  5. Buyer sends the RWA letter and authorization to verify it;

  6. Seller’s bank sends the SPA and CI;

  7. Buyer’s bank sends the MT 799/Pre-Advice (verbiage provided by seller’s bank);

  8. Buyer’s bank sends MT 760/BG/SBLC (verbiage provided by seller’s bank);

  9. Within XX days (depending on the product, SGS inspection, etc.) the loading starts in accordance with the agreed schedule;

  10. Vessel sails to the destination. At the discharge port, seller provides DTA and buyer performs dip test/SGS/CIQ, etc.;

  11. Buyer’s bank pays by TT pr MT 103 at sight against the shipping documents.

NOTE: Seller provides 110% insurance if favor of the buyer and penalties specified in the SPA prevent from non performance.

 

Prices/discounts are not provided upfront but only against LOI issued by buyer. LOIs issued by agents/representatives are accepted only if they are accompanied by Letter of Authorization issued by buyer and specifying authorization to issue documents on behalf of the buyer.

 

NOTE: RESELLERS can buy from the seller only if their Exit Buyers can purchase upon Dip & Pay procedures like most Majors and help the reseller provide guarantee (BG/SBLC) issued by exit buyer’s bank.

 

Such an operation is possible within 5 days as follows: Reseller provides a guarantee for the amount they want to resell, issued by their financial partner (exit buyer). In such a case, the seller will act as a partner of the reseller and assist step by step. Once the BG/SBLC issued by the Exit Buyer is provided by the reseller, the seller sends ATS/TSR/DTA and CI. Then, reseller issues CI in their name and sends it to the exit buyer along with the ATS/TSR/DTA and negotiates the sale price with the exit buyer and continues.

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