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    Letter of Intent: To: Kvartall Group, LLC

    Uploaded by

    yanneth collazos
    The letter expresses Hidromexturbosina's willingness and ability to purchase 2 million barrels of jet fuel A1 per month for 12 months from Kvartall Group. It specifies the fuel specifications and delivery terms, including delivery on FOB or ex-tank basis to Rotterdam, payment by MT103 after successful inspection for the trial and by SBLC for subsequent contracts. It requests Kvartall to provide a soft corporate offer, procedures and estimated timelines. It also outlines the proposed procedures for the trial delivery, involving inspection, transfer authorization upon satisfactory results, and payment by buyer after loading.

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    Letter of Intent: To: Kvartall Group, LLC

    Uploaded by

    yanneth collazos
    629 views3 pages
    The letter expresses Hidromexturbosina's willingness and ability to purchase 2 million barrels of jet fuel A1 per month for 12 months from Kvartall Group. It specifies the fuel specifications and delivery terms, including delivery on FOB or ex-tank basis to Rotterdam, payment by MT103 after successful inspection for the trial and by SBLC for subsequent contracts. It requests Kvartall to provide a soft corporate offer, procedures and estimated timelines. It also outlines the proposed procedures for the trial delivery, involving inspection, transfer authorization upon satisfactory results, and payment by buyer after loading.

    Original Title

    LOI Hidromex-Kvartall JetA1 201030

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    The letter expresses Hidromexturbosina's willingness and ability to purchase 2 million barrels of jet fuel A1 per month for 12 months from Kvartall Group. It specifies the fuel specifications and delivery terms, including delivery on FOB or ex-tank basis to Rotterdam, payment by MT103 after successful inspection for the trial and by SBLC for subsequent contracts. It requests Kvartall to provide a soft corporate offer, procedures and estimated timelines. It also outlines the proposed procedures for the trial delivery, involving inspection, transfer authorization upon satisfactory results, and payment by buyer after loading.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    629 views3 pages

    Letter of Intent: To: Kvartall Group, LLC

    Uploaded by

    yanneth collazos
    The letter expresses Hidromexturbosina's willingness and ability to purchase 2 million barrels of jet fuel A1 per month for 12 months from Kvartall Group. It specifies the fuel specifications and delivery terms, including delivery on FOB or ex-tank basis to Rotterdam, payment by MT103 after successful inspection for the trial and by SBLC for subsequent contracts. It requests Kvartall to provide a soft corporate offer, procedures and estimated timelines. It also outlines the proposed procedures for the trial delivery, involving inspection, transfer authorization upon satisfactory results, and payment by buyer after loading.

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    © All Rights Reserved
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    of 3

    Issued: October 30, 2020

    Valid until: November 6, 2020

    LETTER OF INTENT

    To: Kvartall Group, LLC


    Daniel Alatorre
    CEO

    From: Hidromexturbosina S.A. de C.V.


    Luis Eduardo Chavarría Meza
    General Director

    Dear Mr. Alatorre:

    We, Hidromexturbosina S.A. de C.V. confirm, that we are ready, willing and able to,
    purchase the following product as per specification and in the quantity specified in
    the terms and conditions as stated below and subject to final contract:

    Commodity: JET FUEL A1


    Specifications: See Table 1
    Quantity trial: 2,000,000 barrel initial spot
    Contract size: 2,000,000 barrel per month after successful of the spot
    Duration of contract: 12 months
    Delivery: FOB or Ex-Tank in Buyer’s option
    Port: Rotterdam
    Delivery schedule: As per contract
    Price: NWE Platts minus 7 US dollars per barrel
    Payment Conditions: MT103 after successful Dip test for trial
    SBLC for contract equal to one month´s lift value
    Inspection: Societe Generale Surveillance (SGS) or similar

    Please send us Soft Corporate Offer (SCO), procedure and confirm estimated times
    for the whole process.
    Table 1
    JET A1 Specifications

    Property Units Limit Method


    Clear, bright and
    visually free form solid
    Visual Appearance matter and undissolved
    water at ambient, fuel
    temperature
    Saybolt Colour Report ASTM D6045
    Particulate, at point of
    Mg/L 1.0 Max ASTM D5452
    manufacture
    Particulate, at point of
    manufacture, cumulative ISO Code
    channel particle counts
    ≥ 4 µm (c) Report IP 564
    ≥ 6 µm (c) Report IP 564
    ≥ 14 µm (c) Report IP 564
    ≥ 21 µm (c) Report IP 564
    ≥ 25 µm (c) Report IP 564
    ≥ 30 µm (c) Report IP 564
    mg KOH /
    Total Acidity 0.015 Max ASTM D3242
    g
    Aromatics % v/v 26.5 Max ASTM D6379
    Total Sulfur % m/m 0.30 Max ASTM D5453

    Remaining at your kind disposal to clarify any questions regarding this.

    Best regards.

    Luis Eduardo Chavarría Meza


    Director
    Desire Working FOB Procedures:

    For the First / Trial Delivery:


    1. Buyer sends ICPO/CP to Seller on receipts of Seller’s Full Offer with copy of
    passport.

    2. Upon acceptance of Buyers ICPO, Seller issues draft contract along with
    Commercial Invoice and ICC Warning Letter for Buyers review.

    3. Buyer signs the Commercial Invoice (CI) and returns to Seller the signed CI /
    ICC Warning Letter along with Buyers Tank Storage Agreement (TSA) or the
    Charter Party Agreement (CPA).

    4. Seller issues the following POP documents:


    a. Unconditional Dip Test Authorization (UDTA)
    b. Fresh SGS report.
    c. Q & Q Report
    d. Tank Storage Receipt with GPS coordinates
    e. Tank Injection Report
    f. Authorization to Verify, Authorization to Sell and collect (ATSC)
    g. Certificate of Origin
    h. Availability of Product.

    5. At Buyers expense, Buyer conducts SGS dip test in Seller´s tanks.

    6. Seller issues Authorization to transfer from Seller´s Tank to Buyers Tank upon
    Buyers satisfactory dip test.

    7. Buyer makes by bank swift transfer the payment for the product after injection
    or loading completion against the usual original duly signed and endorsed
    shipping/ownership documents.

    8. Subsequent monthly shipments continue as per terms and conditions of the


    Sales and Purchase Contract between Buyer and Seller.

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