- Applicants must deposit 6% of the order’s value as a prepayment in Iranian Rial or foreign currencies before the start of trading.
- Regarding the qualification of participants, being capable of paying the prepayment in clause 1 is the only qualification criterion and purchase by all domestic and foreign companies is unrestricted.
- The destination for purchased crude oil is limitless and export to all countries except the occupied territories of Palestine is allowed.
- Minimum cargo size for sea delivery is 35,000 bbl and for land delivery is 1,000 bbl
- Delivery period will end latest by 90 days after the trading date and Buyer is obliged to lift the cargo within this period according to the procedure mentioned in supply announcement.
- For payment/settlement, a provisional invoice will be issued in Iranian Rial or US Dollar format with a value equal to 100 percent of the cargo value, ten days prior to the first day of cargo loading date range. The Buyer is obliged to pay this provisional invoice in cash or through credit procedure into the bank account declared by CSDI or NIOC out of clearance of CSDI.
- In case of credit settlement, Buyer(s) must clear the cargo value based in the agreed method latest by 90 calendar days after cargo loading-B/L date.
- Delivery type and point in case of sea delivery is FOB Kharg terminal or via ship to ship operation, in case of land delivery for crude oil is the oil tanks of Tabriz Refinery and for gas condensates is the oil tanks of the Persian Gulf Star Refinery