ALGO Trade Ltd

Company Description

DIESEL FUEL (ULSD)EN 590
FOB PORT OF KLAIPEDA  
50 000 METRIC TONS  MONTHLY  

1. The Parties signs this Contract, and lodge it with their respective Banks.
2. Within three (3) banking days after the signing of this contract, the Buyer's Bank issues by SWIFT Pre-Advice par 45 000 000 dollars. USA.
Within ten (10) banking days from the date of acceptance of the Pre-Advice, Seller's Bank issues to the Bank confirming the non-operative Performance Bond in the amount of 2% of the nominal Pre-Advice.
PB text will be agreed by the Parties additional applications.
3. Within three (3) banking days from the date of acceptance of the non-operative Performance Bond Buyer's Bank opens on SWIFT irrevocable, revolving, documentary, transferable letter of credit par value 45,000,000 dollars. USA confirmed the TOP-50 banks, after that PB is automatically activated.
Term of the credit 13 months, in accordance with Appendix 5 of this Contract.