Buyer issues LOI (Letter of Intent) along with company profile and specification sheet of the product.

Seller issues Soft or Full Corporate Offer (SCO/FCO) to Buyer.

Buyer issues an Irrevocable Corporate Purchase Order (ICPO) to Seller, accepting Seller’s SCO, the delivery procedure, and provides a BCL / RWA as Proof of Funds (POF).

Seller sends a draft Sales Purchase Agreement (SPA) open for amendments to Buyer. (Annual contract of 13 months; the first month will be considered a trial shipment. If Seller performs this first trial successfully, then the Buyer is obliged to continue with the remaining 12 months until the end of the Sell-Purchase Contract. Quasar Group does not operate spot contracts.)

Buyer countersigns, seals the contract, and returns it via courier to Seller. The contract must be legalized at the ICC office or with a public notary by the Seller. Seller will notify the Buyer and Buyer’s bank to confirm that the transaction is legal and correct. Buyer then countersigns the notarized contract received from the Seller by courier.

Within seven (7) banking days, Buyer issues two (2) SBLC:

One within a period of one month plus one day to secure the first trial shipment.

A second to secure the remaining twelve (12) deliveries included in the thirteen (13) month contract with R&E (including the first trial).

The SBLC shall be Swift Operative, Irrevocable, and Confirmed Standby Letters of Credit (SBLC) issued in Buyer’s name to Buyer’s bank.

Seller issues a Performance Bond within seven (7) banking days in Buyer’s name to Buyer’s bank for the first trial.

OR:

Seller, within seven (7) banking days, issues in Buyer’s bank two (2) SBLCs (same structure as above) in the Buyer’s name but for Seller’s benefit. Buyer blocks the funds of Seller-issued SBLCs with a Swift MT760 for the shipment amount each month during the one-year contract period and blocks funds for one additional shipment amount as collateral against Buyer’s non-performance or breach of contract. Alternatively, Buyer may choose to take out insurance for breach or non-compliance with the contract, whether due to force majeure or reasons attributable to the Buyer.

As the Seller covers the SBLC issuance cost in favor of the Seller, no Performance Bond (PB) will be required.

Seller issues Full Proof of Product (POP) and shipping documents including:

  Q88

SGS report certificate

Bill of Lading

Pro Forma Commercial Invoice

Test Report

to Buyer’s bank.

The vessel arrives at the destination port and inspection of goods is conducted by SGS/CIQ or similar appointed by Buyer. Upon Buyer’s confirmation of SGS results, Seller signs the IMFPA with brokers and/or specific Partnership Agreements. Buyer releases payment to Seller’s bank after inspection at port: 100% payable via MT103 T/T wire transfer within one (1) banking day maximum upon successful SGS inspection and receipt of all relevant payment documents.

The process continues as scheduled for the remaining yearly deliveries.

-END OF THE CIF PROCEDURE-

DELIVERY PROCEDURE FOB

Buyer issues LOI, company profile, and specification sheet.

Seller issues SCO/FCO.

Buyer sends ICPO to Seller, accepting Seller’s SCO and delivery procedure, along with a BCL / RWA as Proof of Funds (POF).

Seller sends a draft contract open for amendments. (Annual contract of 13 months; the first month will be considered a trial shipment. If Seller performs this trial successfully, Buyer is obliged to continue with the remaining 12 months until the end of the Sell-Purchase Contract. Quasar Energy Total,LLC does not operate spot contracts.)

Buyer countersigns, seals the contract, and returns it via courier to Seller. The contract must be legalized at the ICC office or by a public notary. Seller will notify Buyer and Buyer’s bank to confirm that everything is legal and correct. Buyer then countersigns the notarized contract received from Seller by courier.

Within seven (7) banking days, Seller issues in Buyer’s bank two (2) SBLCs:

One within a period of one month plus one day to secure the first trial shipment.

A second to secure the remaining twelve (12) deliveries included in the thirteen (13) month contract with R&E (including the first trial).

The SBLCs are Swift Operative, Irrevocable, Confirmed Standby Letters of Credit (SBLC) in Buyer’s name but for Seller’s benefit. Buyer blocks the funds of Seller-issued SBLCs with a Swift MT760 for the shipment amount each month during the contract period and blocks funds for one additional shipment amount as collateral against Buyer’s non-performance or breach of contract. Alternatively, Buyer may take out insurance for breach or non-compliance, whether due to force majeure or reasons attributable to the Buyer.

As the Seller covers the cost of SBLC issuance in favor of the Seller, no Performance Bond (PB) is required.

Buyer sends to Seller the TSA and TSR. If the tank storage (or vessel Q88) belongs to Buyer, the Buyer must provide the specifications sheet of the tank or vessel, geographic address, and documentation proving ownership. Seller invites Buyer to the tank storage to perform the ATV, SGS/CIQ, and DIP Test of Quantity and Quality. The SGS/CIQ test will be paid by Buyer.

Delivery commences at the loading port (Seller’s tank storage) to load into Buyer’s vessel or tank. Seller issues the following shipping or injection documents to Buyer:

Bill of Lading (Injection Report, Tank to Tank)

Certificate of Loading

Certificate of Analysis Report (Product Passport)

Certificate of Q&Q (SGS/CIQ or equivalent)

Seller’s Commercial Invoice (CI)

Vessel Ullage Report (only in vessel operations)

Cargo Manifest (only in vessel operations)

Title of the Product

Upon delivery to Buyer’s loading port, Buyer confirms the SGS test. Seller signs the IMFPA and/or specific partnership agreement with brokers. Buyer makes 100% payment via MT103 T/T wire for the total shipment cost. Buyer’s vessel or tank storage is loaded, and the complete ownership documents are delivered to Buyer.

The process continues as scheduled for the remaining yearly deliveries.

-END OF THE FOB PROCEDURE-

Notes:

BCL (Bank Comfort Letter): A statement issued by a client’s bank, sent directly from the bank officer’s official email to the supplier (Seller), confirming that the bank knows the client, that the client is financially solvent, and that the company has accounts with sufficient funds or cash flow to fulfill a 12-month minimum purchase contract with first lift. The BCL includes the bank officer’s direct phone and email contact for verification, with the client’s authorization to verify funds.

**Our company acts as a distributor of refinery products. Therefore, Quasar Energy Total,LLC obtains significant discounts that end customers would not secure directly with refineries, enabling us to offer competitive prices. However, as distributors, we must purchase fuel for each customer order and rent tank storage—these are actual advance expenses, not instruments such as SBLCs. Accordingly, we require the customer to issue an SBLC as if it were a CIF operation. The cost of issuance is paid by us to ensure the client performs, since we have already incurred costs for the commodity and tank storage. The end customer must only block funds via MT760 to pay us against the injection report and delivery of title documents. We can finance the vessel or tank storage costs, but these costs must be reimbursed by the client along with the monthly shipment or injection costs.

A penalty clause applies if either party breaches or threatens to breach the contract: the cost of one entire shipment or injection order as liquidated damages. The non-performing party will compensate the counterparty for losses. In addition, both parties must take out insurance covering Acts of God and Force Majeure.

DDP (Delivery Duty Paid): Follows the same steps as the CIF Incoterm, plus unloading of product, loading into final pipelines or tank cars on railroad, payment of taxes and tariffs, and final transport to the customer’s facility. This is typically a Door-to-Door sale.

WE DO NOT OFFER GENERAL PRICE LISTS. THE PRICE IS SPECIFICALLY OFFERED UPON RECEIPT OF YOUR LETTER OF INTENT (LOI) a letter from the buyer expressing their intent to purchase the product, indicating the volume, location or destination, and procedure. If you are an intermediary and wish to promote and sell our products, you must register with us to be able to serve your clients, whether you are an individual with business activity or a legal entity that markets petroleum products and we can operate under a joint venture (JV) agreement.