We hereby confirm that, acting as agent on your instructions, we have arranged the following deal on your behalf:
| TRADE DATE: |
MAY 2, 2024
1:07:45 AM GMT
|
| COMMODITY TYPE: |
BRENT BULLET CFD VS 1ST MONTH 1000BBL
|
| QUANTITY PER DETERMINATION PERIOD: |
0
BBL
MONTHLY
|
| TOTAL QUANTITY: |
0
BBL
|
| 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
|
|
FLOATING PRICE (A):
|
WILL BE A PRICE IN USD AND CENTS PER BARREL BASED ON THE AVERAGE OF THE MEAN OF THE HIGH AND LOW QUOTATIONS APPEARING IN "PLATTS CRUDE OIL MARKETWIRE" UNDER THE HEADING "KEY BENCHMARKS ($/BBL)" FOR "BRENT (DATED)" PUBLISHED FOR EACH CONTRACT DAY DURING THE DETERMINATION PERIOD.
|
|
FLOATING PRICE (B):
|
THE AVERAGE OF THE MEAN OF THE HIGH AND LOW QUOTATIONS FOR THE "SPOT CRUDE ASSESSMENT" FOR "BRENT" FOR THE FIRST QUOTED MONTH FOR EACH BUSINESS DAY THAT BOTH ARE DETERMINED DURING THE CONTRACT MONTH.
|
|
FINAL FLOATING PRICE:
|
FLOATING PRICE (A) - FLOATING PRICE (B)
|
|
DETERMINATION PERIOD:
|
EFFECTIVE DATE - TERMINATION DATE
|
|
SETTLEMENT:
|
CASH SETTLED IN USD.
|
|
SETTLEMENT DATES:
|
THE LAST PRICING DAY IN EACH DETERMINATION PERIOD.
|
|
PAYMENT DATES:
|
FIVE NEW YORK BUSINESS DAYS AFTER THE 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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