VII. CLIENTS’ FAQ and JV PPC’ ANSWERS
1. Q.: Shall I personally come to participate in the bidding?
A.: No, you shall not. The competitive bidding is maintained via email.
2. Q.: What is the starting price?
A.: The starting price will be announced before 10:00 hrs. on the bidding day.
3. Q.: What maximal or minimal amount of crude oil one can by at the competitive bidding?
A.: All crude oil amounts are split by lots of 250 to 1000 metric tons.
How many lots can I bid?
Answer: If a bidder is a frequenter at the competitive bidding, he can bid any amount of crude, and for the bidders who had had no contractual relations with JV PPC the maximal lot.
price shall I suggest in the bid to secure the purchase of the lot of crude?
A.: We do not guarantee you’ll win the bidding, but all clients’ bids will be considered.
4. Q.: How do you confirm you have received my bid?
A.: Feedback is by email only.
5. Q.: May I join the bidding at the supreme moment when the final price has been announced, and buy the required lot at that price?
A.: Yes, if any lot has left unsold.
6. Q.: Does the price depend on the amount purchased?
A.: No, it does not.
7. Q.: How many biddings a month are held and what is the total volume of crude to be realised per month?
A.: The competitive biddings are held weekly or fortnightly (depending on the crude production amount), the weekly production amount is put for bidding, ie. about 5,000 (five thousand) metric tonnes, cumulative amount of monthly sales is about 20,000 (twenty thousand) metric tonnes.
8. Q.: What is the term of shipment of crude oil purchased at the competitive bidding?
A.: The nominal amount of shipment of crude purchased at the bidding will be 1,000 (one thousand) metric tonnes/day.
9. Q.: What is the basis for shipment schedule, if several clients won the bidding?
A.: The shipment schedule depends on the sequence of receipt of bidders’ payments: he who pays first will be the first in the queue to ship.
10. Q. What are the terms and conditions of payment?
A.: The period of payment should not exceed 3 (three) banking days including the bidding day, within the same period you should pay the forwarder we’ll recommend you.
11. Q.: Will it be possible that you ship the purchased lot of crude to different addresses?
A.: Yes, but the minimal lot to be shipped at one address is 250 (five hundred) metric tonnes.
12. Q.: Will it be possible that you postpone the shipment of crude?
A.: No, the shipment will be under the schedule (mostly within one week) till the nearest competitive bidding. We do not provide the storage services.
13. Q.: Is it possible to strike a long-term agreement with the fixed volume for some months, the price being a subject of the amendment agreements thereto (according to the results of the competitive bidding)?
A.: No, we do not currently conclude long-term agreements.
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