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EXHIBIT F

SAMPLE - OFFER STANDBY LETTER OF CREDIT

BANK LETTERHEAD

IRREVOCABLE STANDBY LETTER OF CREDIT

DATE:

Acquisition and Sales Division
Mail Stop FE-4451
Project Management Office
Strategic Petroleum Reserve
U.S. Department of Energy
900 Commerce Road East
New Orleans, LA 70123

To the Strategic Petroleum Reserve Sales Contracting Officer:

By order of our customer

we hereby establish in the U.S. Department of Energy's favor, an irrevocable standby Letter of Credit, Numbered

for an amount not to exceed U.S. $ effective immediately on account of our customer in response to the U.S. Department of Energy's Notice of Sale No.

including any amendments thereto, for the sale of Strategic Petroleum Reserve petroleum. This Letter of Credit expires 60 days from the date of issuance of this Letter of Credit.

This Letter of Credit is available by wire payment to the U.S. Department of Energy against presentation of a demand on us of a manually signed statement (with blanks filled in) containing the following:

"THIS DRAWING OF U.S. $.
AGAINST YOUR LETTER OF CREDIT NUMBERED
DATED

IS DUE THE U.S. GOVERNMENT BECAUSE OF
THE FAILURE OF

TO HONOR ITS OFFER
TO ENTER INTO A CONTRACT FOR THE PURCHASE OF
PETROLEUM FROM THE STRATEGIC PETROLEUM RESERVE, IN
ACCORDANCE WITH THE U.S. GOVERNMENT'S NOTICE OF SALE
NO.

INCLUDING ANY AMENDMENTS THERETO."

Upon receipt of the U.S. Department of Energy's demand by hand, mail express delivery, or other means, at out office located

we will honor the demand and make payment, by 3 p.m. Eastern Time of the next business day following receipt of the demand,

at

by either wire transfer of funds as a deposit to the account of the U.S. Treasury over the Fedwire Deposit System Network, or by electronic funds transfer through the Automated Clearing House Network, using the Federal Remittance Express Program. The information to be included in each transfer will be as provided by the above referenced Notice of Sale.

This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision, International Chamber of Commerce Publication No 500) and except as may be inconsistent therewith, to the Uniform Commercial Code in effect on the date of issuance of this Letter of Credit in the State in which the issuer's head office within the United States is located.

Address all communications regarding this Letter of Credit to

Yours truly,

(Authorized Signature)

(Typed Name and Title)

INSTRUCTIONS FOR OFFER LETTER OF CREDIT

1.

Letters of Credit must not vary in substance from this attachment. Provide a copy of this exhibit to your bank.

2.

Insert date of issuance of Letter of Credit.

3.

Insert dollar amount of Letter of Credit in numbers and in words.

4.

Banks shall fill in all blanks except those in drawing statement. The drawing statement is in bold print with double lines for the blanks. Do not fill in the double-lined blanks.

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The information to be included and format to be used either for wire transfer as a deposit over the Fedwire Deposit System Network or for electronic funds transfer through the Automated Clearing House network, using the Federal Remittance Express Program, will be provided in the applicable Notice of Sale.

6.

If available, please include the American Bank Association Number on Letter of Credit.

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8.

If Offeror (banks's customer) or bank forwards letter of credit separately from the offer, the envelope shall clearly say “Offer Standby Letter of Credit (Name of Company)” and shall be clearly marked in accordance with Standard Sales Provision B. 7(c).

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We hereby establish in the U.S. Department of Energy's favor our irrevocable standby Letter of Credit for about $U.S effective immediately. This letter of credit is available by your draft/s at sight, drawn on us and accompanied by a manually signed statement that the signer is an authorized representative of the Department of Energy, and one or both of the following statements:

a. “I HEREBY CERTIFY THAT THE UNITED STATES GOVERNMENT HAS DELIVERED CRUDE OIL UNDER THE TERMS OF CONTRACT NUMBER

AND THAT (CONTRACTOR) HAS NOT PAID UNDER THE TERMS OF THAT CONTRACT, AND AS A RESULT OWES THE GOVERNMENT $

b. “ I HEREBY CERTIFY THAT (CONTRACTOR) HAS FAILED TO TAKE DELIVERY OF CRUDE OIL UNDER THE TERMS OF CONTRACT NUMBER

AND AS A RESULT OWES THE GOVERNMENTS

Drafts must be presented for negotiations on or before the expiration date of this Letter of Credit, (Expiration Date), at our bank. The Government may make multiple drafts against this Letter of Credit.

Upon receipt of the U.S. Department of Energy's demand by hand, mail express delivery, or other means, at out office we will honor the demand and make payment, by 3 p.m. Eastern Time of the next business day following receipt of the demand, by either wire transfer of funds as a

deposit to the account of the U.S. Treasury over the Fedwire Deposit System Network, or by electronic funds transfer through the Automated Clearing House Network, using the Federal Remittance Express Program. The information to be included in each transfer will be as provided in the above referenced Contract.

This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision, International Chamber of Commerce Publication No. 500) and except as may be inconsistent therewith, to the Uniform Commercial Code in effect on the date of issuance of this Letter of Credit in the state in which the issuer's head office within the United States is located.

We hereby agree with the drawers, endorsers and bona fide holders that all drafts drawn under and in compliance with the terms of this Letter of Credit will be duly honored upon presentation and delivery of the above documents for negotiation at our bank on or before the expiration date.

Sincerely,

(Authorized Signature)

(Typed Name and Title)

INSTRUCTIONS FOR PAYMENT AND PERFORMANCE

LETTER OF CREDIT

1.

Letter of Credit must not vary in substance from this attachment. Provide a copy of this attachment to your bank.

2.

Insert date of issuance of Letter of Credit.

3.

Insert dollar amount of Letter of Credit in numbers and in words.

4.

Banks shall fill in all blanks except those in the drawing statements. The drawing statements are in bold print with double lines for the blanks. Do not fill in the double-lined blanks.

5.

The information to be included and format to be used either for wire transfer as a deposit over the Fedwire Deposit System Network or for electronic funds transfer through the Automated Clearing House network, using the Federal Remittance Express Program, will be provided in the Contract.

6.

If available please include the American Bank Association Number on Letter of Credit.

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Exhibit H

STRATEGIC PETROLEUM RESERVE CRUDE OIL DELIVERY REPORT 1. SALES CONTRACT NUMBER 2. TERMINAL REPORT NUMBER

3. CARGO NUMBER

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DATE

TME

18 QUALITY ADJUSTMENT - INCREASE DECREASE)
18A NET GRAVITY ADJUSTMENT FROM 188,5)
188. CALCULATION OF GRAVITY ADJUSTMENT

(1) ADVERTISED API GRAVITY
(2) DELIVERED API GRAVITY
(3) VARIANCE (2) MINUS (1)
(9 ALLOWABLE VARIANCE

NET VARIANCE (3) MINUS (4)
21. TIME STATEMENT
NOTICE OF READINESS TO LOAD
VESSEL ARRIVED IN ROADS
PILOT ON BOARD
WEIGHED ANCHOR
FIRST LINE ASHORE
MOORED ALONGSIDE
STARTED BALLAST DISCHARGE
FINISHED BALLAST DISCHARGE
INSPECTED AND READY TO LOAD
CARGO HOSES CONNECTED
COMMENCED LOADING
STOPPED LOADING
RESUMED LOADING
FINISHED LOADING
CARGO HOSES REMOVED
VESSEL RELEASED BY INSPECTOR
COMMENCED BUNKERING
FINISHED BUNKERING
VESSEL LEFT BERTH (ACTUAL OR ESTIMATED

19. NET AMOUNT DUE
20 THE DELIVERED NET BARRELS, UNIT PRICE. PRICE DATE. QUALITY

ADJUSTMENT AND NET AMOUNT DUE HAVE BEEN VERFIED
SIGNATURE:

ACCOUNTABLE OFFICER 22. REMARKS

24. RECEIPT IS ACKNOWLEDGED FOR THE QUANTITY AND QUAUTY

SHOWN HEREON:

DATE RECEIVED
AGENT

23. GOVERNMENT INSPECTOR'S CERTIFICATE:

BY:
NAME TYPED PRINTED

I HEREBY CERTIFY THAT THE VESSEL CARGO) (PIPELINE SHIPMENT)
WAS INSPECTED, DELIVERED AND ACCEPTED AS SHOWN HEREON.

25 I CERTIFY THAT THE TIME STATEMENT SHOWN IHEREON IS
CORRECT.

DATE

SIGNATURE

SIGNATURE

MASTER OF VESSEL

NAME TYPED PRINTED

SPRPMO-F-6110.2-146 1/87 REV. 8/91

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