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Gas Oil DIESEL D2 or D6 or EN590- 10 PPM
Oil markets work using futures contracts, which enable investors, speculators and businesses to buy and sell barrels of oil for set prices on a set date in the future. Hundreds of millions of futures contracts are traded every day, for benchmark oils such as WTI and Brent, as well as lesser-known crudes
Transaction Procedure
Oil and Gas Transaction Procedures vary from client to client and it is always extremely difficult to get both buyer as well as seller agree to any one set of Transaction Procedures.
We do not participate directly in any of the sale or purchase transactions between traders. However, as a facilitator of any deal transacted we try hard to put in place a mutually acceptable transaction procedure between clients on a case to case basis.
Whereas it is customary for the sellers to submit their own set of transaction procedure while submitting their specific buy or sell offers, We intervene to make certain clients drop clauses which inevitably leads to any kind of upfront payment. We are listing a few examples below:
Splitting "Shipping Charges" and asking the buyer to pay half of those charges to the shipping company prior actual shipment or handover of shipment.
Asking for Banking Instrument prior verification of PPOP documents by the buyer.
Asking the buyer for Tank Storage Receipt prior providing Proof Of Product, Location, and valid Inspection Report.
Asking for any kind of payment on the pretext of any government charges.
Providing Banking details that do not relate directly to either the buyer or the seller.
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