Supply Board

Groups :    [Back]

Supply Board 14 february 2018
2/12/2018

Base price & sales terms and conditions for international customers in 14 February 2018

No.

Bitumen Type

Production Site

Quantity (MT)

Maximum Supply (MT)

Delivery Conditions

Transaction Type

Base Price/MT

(USD)

1

60/70

Isfahan

10,000

70,000

Bulk- Isfahan Ex. Work

Export- Cash

262

2

85/100

Isfahan

5,000

20,000

Bulk- Isfahan Ex. Work

Export- Cash

262

3

60/70

Isfahan

5,000

15,000

Drum-

Ex- work Isfahan

Export- Cash

304

4

60/70

Isfahan

1000

2000

Bag 1MT

Ex- Work

Isfahan

Export- Cash

292

Total Qty

Isfahan

21,000

107,000




Terms & Conditions:

1- The above-mentioned prices are valid only for cash payment.

Note 1: If the price of bitumen increased due to increasing in the VB price at the time of taking cargo, the buyer should pay in addition as following table:

Incremental range of rate of Vacuum bottom

Share of customer for payment

0<Incremental range<5%

50% of increase of Vacuum bottom

5%<Incremental range<12%

75% of increase of Vacuum bottom

12%<Incremental range

90% of increase of Vacuum bottom

This rule is only valid once and if Vacuum Bottom price increase repeatedly during the contract period, the buyer should pay 100% of the increased value of Vacuum bottom to seller on every collection.

2- Payment terms:

2-1- Isfahan FCA (Price table; Items 1 to 3):

2-1-1- The buyer should pay at least 5% of the total amount within 5 working days of transaction date on IME.

2-1-2- The balance payment should be paid based on agreement and within 40 calendar days of transaction date on IME.

Note: 50% of the received amount as per item 2-1-1 is held by seller as deposit till the final payment and the equivalent goods are released along with the last shipment. Sales orders are issued proportional to the received payments. If the buyer fails to pay the amount mentioned in item 2-1-2 by the due date, the seller has the right to terminate the contract unilaterally and retain the deposit.

3- Delivery schedule:

3-1-Price table, items 1,2(Isfahan Ex-Work): 7 working days after sales order

3-2- Price table, items 3 (Drum – Ex-work Isfahan ): 15 working days after sales order

3-3- Price table, items 4 (Bag 1MT – Ex-work Isfahan ): 15 working days after receiving containers' booking confirmation

3-4- the maximum time for collect the orders is 50 days from date of transaction In IME,

Note: If buyer fails to collect the mentioned time, and bitumen price increases, the price of remaining quantity is calculated based on the bitumen price on collection date.

4- Other Conditions:

4-1-Domestic buyers should pay 9% VAT. They can apply to refund the VAT amount through Tax Office.

4-2- Export customs clearance formalities are done by seller for FCA cargoes (Isfahan Ex-Work) and the buyer should pay all customs clearance costs.

4-3-Domestic buyers are responsible for export customs clearance and purchased goods will not be cleared by seller.

4-4-Only foreign companies are eligible to purchase bitumen on FOB basis.

4-5-Foreign companies, who purchase products on FOB basis, are exempted from paying the 9% export guarantee deposit

4-6-Foreign companies, who purchase products on FCA basis, can pay the 9% export guarantee deposit by cheque. The cheque will be returned within 15 days of export date against presenting export permit.

4-7-If seller requires, the buyer should provide the seller with purchase information.

4-8-Remained quantity of any sales order less than 22 MT (price table, items 1 to 3) are not delivered and equivalent amount is refunded to the buyer.

4-9-Buyers should consider following points during money transfer:

4-9-1-The amount should be paid to seller’s account by buyer or its broker (representative) and in the name of buyer. Buyer's name should be printed on the bank receipt.

4-9-2-Original copy of bank receipt or cheque transfer letter should be presented to seller.

4-9-3-If a third party makes payments on behalf of buyer and buyer's name is not printed on bank receipt, the third party should attend the seller's office and confirm buyer's name in written.