We hereby confirm that, acting as agent on your instructions, we have arranged the following deal on your behalf:
| TRADE DATE: |
MAY 3, 2024
9:45:11 AM GMT
|
| COMMODITY TYPE: |
FUEL OIL 3.5% FOB MED CARGOES VS FUEL OIL 3.5% FOB ROTTERDAM BARGES
|
| QUANTITY PER DETERMINATION PERIOD: |
0
MT
MONTHLY
|
| TOTAL QUANTITY: |
0
MT
|
| FIXED PRICE PAYOR: |
SALLY SMITH,
XYZ COMPANY
555 555 1234
|
| FLOATING PRICE PAYOR: |
JOHN DOE,
ABC COMPANY
555 555 6789
|
| STRIP: |
XXX24
|
| EFFECTIVE DATE: |
MAY 3, 2024
|
| TERMINATION DATE: |
MAY 3, 2024
|
| FIXED PRICE: |
0.00
USD / MT
|
|
DETERMINATION PERIODS:
|
MONTHLY TRADING PERIOD(S) COMMENCING WITH THE EFFECTIVE DATE AND ENDING ON THE TERMINATION DATE.
|
|
FLOATING PRICE (A):
|
TO BE BASED ON THE ARITHMETIC AVERAGE OF THE MEAN BETWEEN THE RELEVANT HIGH AND LOW QUOTATIONS FOR 3.5 PCT UNDER THE HEADING FOB MED (ITALY), AS REPORTED IN ISSUES OF THE PLATT'S EUROPEAN MARKETSCAN FOR EACH BUSINESS DAY IN THE DETERMINATION PERIOD.
|
|
FLOATING PRICE (B):
|
TO BE BASED ON THE ARITHMETIC AVERAGE OF THE MEAN BETWEEN THE RELEVANT HIGH AND LOW QUOTATIONS FOR 3.5 PCT UNDER THE HEADING BARGES FOB ROTTERDAM, AS REPORTED IN ISSUES OF THE PLATT'S EUROPEAN MARKETSCAN FOR EACH BUSINES DAY IN THE DETERMINATION PERIOD.
|
|
FINAL FLOATING PRICE:
|
FLOATING PRICE (A) MINUS FLOATING PRICE (B)
|
|
COMMON PRICING:
|
IS NOT IN EFFECT FOR THIS TRADE
|
|
SETTLEMENT:
|
CASH SETTLED IN USD
|
|
SETTLEMENT DATES:
|
THE LAST PRICING DAY IN EACH DETERMINATION PERIOD.
|
|
PAYMENT DATES:
|
FIVE (5) BUSINESS DAYS AFTER EACH SETTLEMENT DATE VIA WIRE TRANSFER OF FEDERAL FUNDS.
|
|
OTHER TERMS:
|
TO BE CONFIRMED DIRECTLY BETWEEN THE ABOVE PARTIES IN THEIR FULL FORM OF CONTRACT. TERMS OF ANY MASTER AGREEMENT (S) BETWEEN THE TWO COUNTERPARTIES TAKE PRECEDENCE OVER THE TERMS OF THIS CONFIRMATION
|
| SEF TERMS: |
THE TRANSACTION WILL INCORPORATE AND BE SUBJECT TO THE TERMS OF THE REFERENCED ISDA COMMODITY DERIVATIVES DEFINITIONS, AS AMENDED AND SUPPLEMENTED AS OF THE DATE HEREOF, ANY APPLICABLE PUBLISHED STANDARD TERMS SUPPLEMENT AS OF THE DATE HEREOF FOR THE RELEVANT TRANSACTION TYPE AND REFERENCE ENTITY, AND ANY APPLICABLE MASTER AGREEMENT (INCLUDING ANY CREDIT SUPPORT ARRANGEMENT) BETWEEN THE PARTIES. FOR THE AVOIDANCE OF DOUBT, THIS CONFIRMATION LEGALLY SUPERSEDES ANY CONTRADICTORY TERMS FOUND IN ANY FREESTANDING NEGOTIATED AGREEMENTS THAT THE PARTIES MAY HAVE ENTERED INTO RELATING TO THIS TRANSACTION OR TO TRANSACTIONS GENERALLY. |
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