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Cynic Group

Home > United Kingdom (24504) > London (3416)
We are international company with regional office in the United Kingdom. We are assisting 3 well known end-buyers to buy crude oil, Gas Oil, jet fuel,, fuel oil, Base Oil.

We would like to describe what kind of procedure, Seller and product we look for:
1. We work with products where the Seller already has allocation. We prepare LOI only after getting offer's details for such product.
2. We mainly look for Russian origin petroleums (REBCO, Diesel D2 [L0,2-62], Mazut M100, Jet Fuel).. Generally we look for quantities about 200 000MT per month for each of these products.
3. We can work only on documentary payment forms issued for each shipment against PBG like Irrevocable Confirmed Revolving Documentary L/C. We can also accept Documentary Stand-By LC filled for one month. No unconditional financial instruments, blocked funds, unrestricted LC or payment in advance.
4. We prefer to have beforehand the business profile of the Seller's company we are going to work with. Its name is NOT necessary before FCO. We appreciate to know the information about its membership in some known associations.
5. We need to know the Seller's company country of registration, its staff location (country), bank's name and country.
6. If this is reseller and not the real owner of resources we also need to have some document from famous owner (like TNK, Lukoil, Ukos, Sibneft, Sidanko in Russia) stating that they are ready to assign resources to this Seller. Please, note that past proofs are not required if they are unavailable - we just need soft confirmation from main Russian product owners that are well known.
7. FCO should be from Seller with complete details (at least name and legal address). Telephone, fax and email are not required. We just need the contacts of responsible Seller's decision maker or mandate. Mandates (decision makers) should negotiate directly.
8. If you are agent we need to know if you are on the Seller's side or on Buyer's side and how many agents between you and Seller/mandate. Please, always inform to whom you are direct: To Seller, to Seller's mandate, to some agent in the Seller's team, to some agent in the buyer team. We prefer offers when introduction agent is on the Seller's side or direct to Seller's mandate without any other agents (sometimes we may secure you on the Buyer's side). Send us FPA to save time.
9. If the L/C is transferable then the FCO or draft contract should include the full details of both beneficiaries and POP.
10. If back-to-back L/C is required the costs to be paid by the Seller.
11. To check the resource we ask for allocation number, loading port and quantity according to schedule.
12. Offers for Nigerian Crude Oil will be only considered, if the Seller provides upfront a written confirmation for allocation and ownership, which has to be issued and/or endorsed by the NNPC office in London only (or the Seller is known subsidiary of NNPC).
13. We gives the highest priority to FCOs that are with the independent verifiable Proof of Product.
14. Pre-advice should be sent by bank channels to escape possible fraud of intermediaries.
15. Seller provides first a non-operative Performance Bond in the amount of 2% of the L/C's face value in the favour of Buyer, which will become operative after receipt of Buyer's L/C.
Company NameCynic Group
Business TypeBuying Office
Main ProductsGas oil, fuel oil, jet fuel, base oil, crude oil  
Total No. Employees5 - 10 People
CityLondon
Country/RegionUnited Kingdom
Contact PersonMr. Max Yega
Telephone0**************5  View all, please login
Fax0044-207-2667576
Street AddressSt Johns Wood
Zip CodeNW8 9NY
sell123 URLhttp://www.sell123.org/company/United-Kingdom/858046.htm

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