We hereby confirm that, acting as agent on your instructions, we have arranged the following deal on your behalf:
| TRADE DATE: |
MAY 1, 2024
7:08:19 PM GMT
|
| COMMODITY TYPE: |
NAPHTHA CIF NWE CARGOES VS BRENT 1ST LINE
|
| 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 1, 2024
|
| TERMINATION DATE: |
MAY 1, 2024
|
| FIXED PRICE: |
0.00
USD / BBL
|
|
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 AVERAGE OF THE RELEVANT HIGH AND LOW QUOTATIONS APPEARING IN THE 'PLATTS EUROPEAN MARKETSCAN' UNDER THE HEADING 'NORTHWEST EUROPEAN CARGOES CIF NWE/BASIS ARA' FOR 'NAPHTHA' FOR EACH DETERMINATION PERIOD.
|
|
FLOATING PRICE (B):
|
TO BE BASED ON THE AVERAGE OF THE SETTLEMENT PRICES AS MADE PUBLIC BY ICE FOR THE FRONT MONTH ICE BRENT CRUDE FUTURES CONTRACT FOR THE SETTLEMENT PERIOD. NON-COMMON PRICING.
|
|
FINAL FLOATING PRICE:
|
FLOATING PRICE (A) MINUS FLOATING PRICE (B)
|
|
CONVERSION FACTOR:
|
8.9 BARRELS PER METRIC TON.
|
|
ROLL ADJUST PROVISION:
|
IN ORDER TO USE THE CORRECT FLOATING PRICE QUOTATIONS, THE NEARBY MONTH QUOTATION SPECIFIED IN THE FLOATING PRICE TERMS ABOVE WILL BE USED EXCEPT FOR THE EXPIRATION DATE OF EACH COMMODITY'S UNDERLYING DELIVERY MONTH'S FUTURES CONTRACT. ON SUCH DATE, THE APPLICABLE PRICING QUOTATION WILL BE ROLLED TO THE FOLLOWING MONTH'S (THE NEXT NEARBY) QUOTATION.THIS PROVISION SHALL BE APPLICABLE SOLELY IN THE CASE OF FLOATING PRICES DETERMINED WITH REFERENCE TO EITHER THE IPE BRENT OR GASOIL FUTURES CONTRACT OR THE INDEX AVERAGE QUOTED WITH RESPECT TO SUCH FUTURES CONTRACTS. SETTLEMENT:
|
CASH SETTLED IN USD.
|
|
SETTLEMENT DATES:
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THE LAST PRICING DAY IN EACH DETERMINATION PERIOD.
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|
PAYMENT DATES:
|
FIVE (5) BUSINESS DAYS AFTER EACH SETTLEMENT DATE VIA WIRE TRANSFER OF FEDERAL FUNDS.
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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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