At Gubs Oil Company, we are proud to be one of the leading LPG (Liquefied Petroleum Gas) suppliers based in Dubai. Our mission is to provide reliable, high-quality LPG to customers not only within the UAE but also across the globe. We are committed to ensuring safe and efficient delivery of LPG to meet the diverse needs of our residential, commercial, and industrial clients.
COMMODITY: LPG 30/70
ORIGIN: Non-sanction country
SPECIFICATIONS: Standard Specification
QUANTITY: Monthly 44.000 MT
Contract: 1 year (12 * 44,000 MT). Extension possible.
DELIVERY SIZE: 44.000 MT +/- 5% (One vessel)
DELIVERY SCHEDULE: Delivery schedule in the SPA
MODE OF PAYMENT: REGULAR S.P.A. SBLC MT760 or RDLC for 1 month’s value for 12 months +1 day with one year extension, MT103/202
UNLOADING SEA PORT: Buyer destination
DISCHARGE RATE: TBD
INSPECTION: SGS, BV or Similar Organization
DOCUMENTS: FOR RELEASE PAYMENT ON DELIVERY TO VESSEL: T.B.A. at S.P.A.
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TRANSACTION PROCEDURE (CIF):
1. The Buyer issues an LOI with CIS
2. The Seller issues the SCO with CIS
3. The Buyer issues ICPO/POF (bank Statement print screen with attorney attestation letter or sign and stamp by the CEO to our CEO only).
4. The Seller issues a Sales and Purchase Agreement (SPA) to the Buyer, and both parties sign and lodge it with their banks.
5. The Buyer’s bank provides a Pre-advice SWIFT MT705 together with an RWA MT700 (that covers the RDLC) or MT799 (that covers the SBLC) to the Seller’s Bank.
6. The Seller’s bank responds with a 2% Performance Bank Guarantee (PBG) of the SBLC or DLC monthly value.
7. Within five (5) banking days, the Buyer’s bank issues the SBLC via SWIFT MT760 or RDLC via SWIFT MT700 service from Top 50 EU/US Bank or true a Top 25 corresponding EU bank to the Seller’s bank account.
8. The Seller loads the first shipment of 44,000 MT, providing the following documents to the Buyer within 5-15 working days:
a. Commitment to Supply
a. Certificate of Origin
b. Seller’s Certificate of Incorporation
c. Q88 (Vessel Questionnaire 88) and other shipping documents
d. Bill of Lading
e. SGS Report at Loading Port
f. Copies of Charter Party Agreement(s) for product transfer to the discharge port
g. Notice of Readiness (NOR) / Estimated Time of Arrival (ETA)
9. Upon confirmation that the SGS test results match product specifications from the Buyer. Vessel will sail to the Buyer’s discharge port. Upon vessel arrival at discharge port, Seller will engage an Independent Inspector, such as SGS or similar, to issue a test report within forty-eight (48) hours following the Vessel’s Notice of Readiness (NOR) at the discharge Port. The Seller sends the Test Report to the Buyer.
10. After the Buyer receives the test result, the Buyer transfers the full payment for the product via MT103/202 in 24 hours to the Seller’s designated bank account.
11. After receiving the payment, the Seller transfers ownership title to the Buyer, and the unloading of the vessel starts.
12. The next shipment will occur as per the contract.
PLEASE TAKE NOTE:
If you accept the procedure and price, please issue the loi and send it along with your CIS and company profile to:
GUBS OIL
Attn: Sales Manager
info@gubsoil.com
More information: +31-61-666-1606 Dr. Ryan
