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FCE CONTRACT SPECIFICATION TERMS AND CONDITIONS
The FCE specification may reflect industry standards or they may reflect a FCE defined and created standards, further specified as a FTNX Standard Specifications (FSS). These specifications are applied on the offer to form the price basis of the FCE board. The actual specification of the supplier will be used at contracting time and prices will be adjusted to accommodate suppliers actual specifications. Likewise in matters to do with quantities and weight. As related to UCP 600 banking rules all goods bear a 10% tolerance factor as it pertains to delivered quantities (weight) against payment vlaue. No changes to a financial imnstrument value is needed, unless the chage in price eceeds 5.0%.
Long contracting periods exceeding 1 year are eagerly sought by FCE agents. FCE Agents will also be able to offer, as specialist traders, attractive new applications not seen in the international trade industry–on behalf of the FCE. The FTN Exporting Commodity Exchange is open to all end buyers, export ready suppliers and Licensed USCT Agents as registered in 2026.
The FCE is not suitable for use by ill informed other and intermediaires. Accordingly this intranet application is a live aspect for all to see but specific few to apply in an open and transparent manner. The boards changes its listed prices on the 15th day of each months at 12.01 PM AEST if factors have shifted; otherwise prices remain fixed until such events take place. On the 15th day of every month the prices are adjusted if need be, based on market condition, and Euro rate at the time-if these aspects breach our mitigation factors-otherwise the price remains fixed for the life of the contract.
While single shipment prices are served, the main interest of the FCE is to buy and sell revolving quantities at FAS, FOB, CIF or FTN exporting created QUD delivery mode as described on the specification site page below. FTN Exporting is no longer personally accepting any trade inquiries from end buyer or suppliers unless its been first vetted by a FCE agent is the new agency position from 2026.The goods listed on the FCE are goods secured directly from suppliers with all operational expenses added. All matters of listing is subject to suppliers actual specifications and final price basis as indicated on final contracts, as such the FCE lists goods bearing strong reliable indications of sell prices which may be lower or slightly higher when contracts are finally signed but within a 2.5% tolerance factor. The relevant aspect of a final contract price basis is clearly prescribed in an open and transparent manner.
ICC Incoterms used as current is a given year.
- Goods listed on the FCE are priced at at: FOB
- The FCE will entertain FAS, CFR, and CIF Incoterms delivery mode, where sought if such delivery mode is indicated on an offer as available.The FAS aspect and the FCE Usage Factor (FUF).
- FUF is the base fee charged to suppliers for using the FCE as deducted from the FCE buy price if the OPX aspect is not activated as apparent on the offer)
- The FCE Usage factor is indicated. If an end buyer accepts to buy goods at ICC FAS delivery mode, the difference between the OPX rate and the FCE USAGE factor differential is subtracted from the end buyers listed sell price.
- The end buyer can assess the better option based on their own ability to secure better freight rates than FCE can, as the FCE cannot use a charter party BOL in a CIF or CFR delivery mode, but the more expensive shipowners BOL to ensure the utmost securest delivery basis is applied.
- All carriage freight rates, if offered or implied, are done as a provisional rate and formally adjusted on final contracts. FCE issues the offer at FOB for expediency.
- The lowest sell price possible is when FTNX Delivery Mode (FDM) defined as QUD is used.
- Quantity Unconditionally Delivered: is a FTNX newly created inhouse delivery mode created out of necessity as many deliveries are late adding expenses that are avoided under QUD. The FTNX QUD delivery mode follows a slightly different variation to the ICC FOB incoterms single delivery rule. QUD can only be applied for revolving deliveries in where exact delivery dates are removed and in where the ship's mate's receipt and not the BOL is secured by the FCE as the main transport documents that must be secured. In this light the FCE guarantee the quantities offered on contract are delivered within the time frame indicated on contract without fear of penalties No performance guarantee is supporting the QUD transaction; Example: If a supplier entertains QUD delivery mode, the supplier will as soon as practical to ensure all goods are delivered ‘within the contract period’ rather than a monthly period as oper a fixed date . e.g: 1 shipment of coal per month for 12 months, would be replaced with “12 shipments of coal delivered in a one year contracting period, plus or minus 30 days” on the condition that 2 shipments do not arrive in a given month. This now allows for a single shipment payment mode, less pressure to perform to a strict delivery time frame and flexibility without added penalties. Ask your FCE agent for more details of the QUD Delivery Mode . After 12 months are up, if 12 deliveries have not eventuated, the supplier is required to discount the last late delivery with an added discount for that one or more late shipments, on the price of goods by a factor of 5.0 % of the purchase priceor served as a cash payment. QUD can be sought by end buyer or taken by FCE suppliers as from 1 March 2026 deliveries onwards .
- DELIVERY:Price on the FCE are offered at ICC FOB Incoterms. The offer, once released, serves various delivery options from FAS to CIF Incoterms. Price are offered based on a UCP600 endorsed DLC payment instrument.
- PRODUCT : The product we are seeking or have in hand is specified .The specification of such products that serves FCE listing is indicated in the specifications section found on this web site.
- MARKET: At the time of posting on the 15th day of each month, the prices on other exchanges are indicated.All listings when factors are applied are applied to the nearest whole cent value.
- FCE @ EURO: After converting the USD$ to Euro as per the euro rate secured on the 15th day of a contracting month.
- MIT: RATE : If the goods remain within the mitigation rate when actual sell prices are recorded on the 15th day of a contracting month, the price of goods offered remains fixed until the next month's reading is taken.
- LOW/HIGH CHANGE: When taking the sell price on the15th day of a given month, Price will only change if the Low or High mitigation value is breached as per rates indicated - by one whole cent.
- FCE OPX: This is the FCE operational expense which includes all delivery expenses and all commission payments when the FCE sells such goods to qualified and vetted end buyers.
- FCE SELL @1: This is the single shipment price the FCE is offering to end buyers worldwide. If a revolving transaction is envisaged a further discount at “rate listed” is further offered.
- FCE @ REV: The final revolving price is served in EURO, but a USD$ is also offered which at the time of listing will be accepted by the FCE subject to final contract adjustment made on contract. The FCE has the right if need be to only advise an offer bearing payment by EURO dollars.
- The bottom panels of the FCE speak for themselvesand includes FUF rate. Unless stated otherwise on the FCE released offer at FOB the delivery mode provid for a Ships Mate’s receipt as being the primary transport document - amongst others. The FCE charges a FCE USAGE rate as indicated on the bottom panel which is incorporated in the OPX rate. The FCE usage rate is applied for using the FCE exchange and is deducted from the payment value due to the supplier, unless stated otherwise on the offer. We only deduct the FCE usage rate if the buyer takes delivery at FAS Incoterms when no OPX rate is apparent on the offer which serves the best possible lowest price.
Price Basis:
All prices listed on the FCE are semi fixed with mitigation factors applied to protect suppliers and end buyers with rapid price increases, falls and added expenses there in . If a fixed price is sought and offered a fixed premium is also applied.
Price Payable:
The price of goods payable is taken from the FCE on the 15th days of each month at 12.01 PM or later AEST.This aspect is important as the Christmas / New year period attracts a greater level of delay to deliveries, than usual, in where the 15th day of December is the final price taken in a given year that can still be served for January deliveries made in the next upcoming new year.
Deferred Payment :
A FCE Agent if asked can service advice about deferred payment to and end buyer who intends to buys good a resell such goods , make a profit , and pay the bank the cost of good purchased from the FCE within a preset period of time, allowing the end buyer to buy goods using the bank money without the FCE calling on the financial instrument supporting the transaction . Deferred payment can only be applied to single shipments exceeding 60,000 MT or more in which the goods offered on the FCE are slightly higher as an interest rate surcharge is applied to the price of the goods. The end buyer will still need to support the D/P aspect with an active or pre-advised bank issued instrument.The deferred period is 45 days after delivery. If the end buyer fails to pay for goods on time , the financial instrument will be collected upon. The BOL will not be marked on its margins ’notify party FCE’ allowing the end buyer to quickly resell such goods, or ask FCE to resell such goods on their behalf at a new price as a private inhouse transaction. FCE Agent has discretion on whom it may serve this D/P application . This is the legally acceptable aspect to the often seen unlawful aspect applied in ‘ back to back’ transactions. Only accepted as per the ICC CIF or FTNX QUD delivery mode.
Clean Delivery Documents
Once loading is completed all delivery documents must reach our bank in a clean state within 20 days in where payments are assured under UCP rules–within 5 banking days thereafter.
In General: The offer
All other aspects of trade are provided on all offers considered by the FCE . An offer once issued by or signed by the FCE is legally binding. If the offer is signed and the contract for whatever reason is not signed, payment of pre-loading /shipment expenses incurred will be sought by the FCE or paid buy the FCE–as relevant; to the end buyer or supplier.Once the offer is signed, goods are prepared for loading. This is the stated aspect unless the offer states otherwise.
Listing on the Private FCE Exchange: Supplier
A supplier approached by a licensed USCT Agent in 2026 or; if the FCE Agent is sought as disclosed on the FCE in early in 2026; the supplier may negotiate and have a product listed on the FCE for 3 months minimum by providing or the necessary details of goods on offer via email or AOS form. The FCE agent will then prepare an inhouse form and provide it to the FCE for listing. If the supplier is offering goods to the FCE for “long term parking’ ( 1 year) the the listed goods remains listed as a FCE exclusive supplier in which the same type of goods as per grade cannot be listed on the FCE unless the new supplier offers a discount on current listed price by a factor of 2.5% or more ( accepted on merit) When FCE is actually buying goods , the FCE listed suppliers are used. The factors used on the FCE will appear on the offer at time of purchase. Suppliers offering goods bearing less than 3 months validity are not accepted for listing.
Buying goods listed on FCE Exchange: End buyers.
Once goods are sighted the end buyer contacts one FCE listed agent once such agents begin to be listed on the FCE early in 2026. The agent will engage via email with the buyer, obtain all the required particulars and submit an inhouse form to FTNX. If the inquiry is accepted by FTNX it will issue an offer to the agent who in turn instructs the end buyer acordingly.No engagement with FTNX directly is allowed until contracts are signed.
INSTANTANEOUS CONTRACT APPLICATION (ICS)
All FCE transactions are completed in real time using the internet and email messaging system where the whole nature of business is conducted in writing. The ICS aspect is not applied to the hardcopy contract. The contract is served both as a PDF and hardcopy and that the PDF version allows the deal to move forward while awaiting the hardcopy signed contract via courier mail.
CONTRACT PERIOD
When the FCE decides to buy goods listed on the FCE, a 21 up to 27 day transacting period to the signed contract is the expectations.Payment is advised within & days of this event . First delivery initiated and completed when the contract is signed within 28 days or less of such.
CURRENCY
Until further advised the Euro dollar is serving FCE price basis . BPS and USD or other currencies may be used at FCE discretion.
FCE MAIN EXCHANGE SPECIFICATIONS OFFERED/SOUGHT
GENERAL AND ACTUAL ( IN PART) INSIGHT SERVED WHEN SOURCING GOODS;
ACTUAL SPECIFICATION OF THE GOODS ARE ONLY APPLIED ON THE OFFER AS SECURED FROM OUR SUPPLIERS
(Other grades considered privately)
FCE SWEET CRUDE OIL (SCO)
Minimium order considered .
Adjusted FCE grade. Pricing as per MT not BBL
Single shipment:Not considered
Revovling shipments: 1 shipment monthly or bi-monthly: Minimum deliveries considered per year : 6
Deliverable Quantities : As delivered in double hull shipworthy vessel(s): 60,000 MT up to 100,000 MT
Low Emission Sulfur (LES) by weight 0.45% or less
Density API 38 or better
FCE BBL to MT : 7.5 average
Subject to actual factors served by the supplierat contract time
Aramco type of primary contracting conditions not accpeted.
FCE SOUR CRUDE OIL
Sulphur Content: Generally over 0.5% by weight or higher (e.g., 2-5%).
Acidity: Contains acidic compounds, making it corrosive, needing specialized equipment.
Gravitiy API :Can range from medium to heavy (e.g., 15.8° API to 32° API), affecting refining yields.
Hydrogen sulfide and cabone Dioxide also define sourness.
Examples of Sour Crudes:
Maya Crude Mexico Heavy (around 16° API) with ~4.5-4.76% sulfur, suitable for asphalt.
ULS D2
ULS D2 (Ultra Low Sulfur Diesel #2) is very low sulfur grade of diesel (typically 10 ppm max) for cleaner emissions and requires good ignition quality. Specification contains a minimum Cetane Number around 49 (or Index 46-49), meeting standards like EN 590, BS EN 590:2009, or ASTM D975 for properties like density, viscosity, flash point, and cold flow, making it suitable for modern diesel engines while remaining a standard #2 grade product. FCE sells at MT no gallon
D2
While LSD2 at 15 ppm has replaced the older D2 standard around the world the older grade may range from <5000 ppm (0.5%) down to <200 ppm (0.02%) or <50 ppm (0.005%), depending on the specific standard (e.g., Russian GOST 305-82 allows up to 0.5% total sulfur). Note ; Until the west drops sanctions with Russia FCE cannot buy and sell Russian fuels.
ASTM D396: Defines No. 2 Diesel (D2), often linked to 15 ppm ULSD in the US.
EN 590: European standard; progressively lowered sulfur limits from 0.2% to 10 ppm (Euro 5).
GOST 305-82(Russia): A common reference for D2 gas oil, allowing up to 0.5% total sulfur but with seasonal variations for cloud/pour points
GASOIL(AGO)
Gasoil and D2 are in essence the same thing: D2 is a refinery term for Gasoil, the second major distillate from crude oil, serving as a standard diesel fuel (like Diesel #2) known for its high energy content, good performance in most conditions, and use in standard diesel engines, though D2 historically refers to a higher sulfur version that's being replaced by ultra-low sulfur diesel (ULSD) in many places, with the primary difference often being sulfur content and specific regional standards (like GOST or EN).AGO/D2 meeting strict low-sulfur standards like EN 590. The ‘A’ defined the method of production ( atmospheric )
COPPER CATHODES
The LME term grade “A” Copper is not used by the FCE.The term “ Premier Grade’”copper cathodes is used as different producers often claim to sell grade ‘A’ copper cathodes as per LME when its not. FCE premier copper cathodes must bear a minium widith x length of 900 mm, bound in metal straps and sold as 2 MT bundles or more at NBC . FCL not considered by FCE. NBC loads of 25000 MT minimum applies single or revolving. All copper cathodes sold by the FCE must arrive at or exceed 99.99% gross copoper content .The FCE tolerance factor in matter of grade grade is 2.0%. Copper cathodes are high-purity, semi-finished copper products. The basic specifications as per international standards like LME Grade A, ASTM B115, and BS EN 1978, are ther main priducts traded .Copper cthodes have a typical thickness range of 5 mm to 12 mm for standard large sheets.FCE price of for 914mm x 914 mm x12 mm sheets. Full specifications as served by our suppliers is applied on offers made by the FCE
ZINC INGOTS
Zinc ingot specifications focus on purity (typically 99.99%) or Special high grades ( SHG), physical properties like density (around 7.14 g/cm³) and melting point (~420°C), and standardized shapes/weights (e.g., 25kg ingots or large jumbo blocks) for galvanizing, die-casting, and alloys, ensuring low impurities like lead (Pb) for industrial use.
FCE ALUMINIUM INGOTS
Aluminum ingots vary widely in size and specs, but common types include small bars (around 15-25 kg, ~600x100x50mm) for general use and large T-shaped ingots (500-900 kg) for foundries, with purity levels like A7 (99.7% pure) being standard, defined by chemical composition (Si, Fe, Cu limits) and physical properties (density 2.7 g/cm³, melting point 660°C). They are categorized by purity (EC, primary, secondary) and application, often adhering to LME or GB/T standards, and packaged in 1-tonne bundles.
FCE ALUMINIUM SCRAP
AVERAGE OF 70,000 ALUMINIUM CANS PLUS OF MIUNUS 5.0%
Cans must be clean, shredded or cut and passed through a magent before compressing and pachaging, Pre shipment inspection by independent experts includies process supervison and batch testing prior to loading.
Complessed blocks bound in plastic wrap and metal straps and stacked on pallets to apply 2 MT weight ratio per pallet or higher. NBC single loads of 25,000 MT or higher cconsidered.
SOYBEANS; Human Consumption
Depending on suppliers grade. General expectation First-crage (or first-crop) soybeans are graded based on quality factors like damage, color, and foreign material (e.g., stones, weeds), with No. 1 Canada Yellow being the top grade, while protein content itself isn't a primary grading factor but rather a quality indicator, with typical protein around 35-40%, and high-protein varieties aiming for over 40%, giving excellent protein quality scores (PDCAAS/DIAAS near 1.0 or 100) for diverse uses.
SOYBEANS ; Animal feed
For cattle feed, soybeans are used as high-protein supplements, typically as Soybean Meal (defatted) or full fat soybeans (roasted), with specific grades focusing on protein content (like 48% for meal) and proper processing (roasting) to destroy anti-nutritional factors like trypsin inhibitors, ensuring digestibility and growth. The choice depends on energy needs: meal is protein-focused, while full-fat beans provide more fat/energy, with both being excellent for dairy and beef cattle.
FCE SUGAR
ICUMSA 45 is the highest grade of refined white cane sugar, characterized by its white color and exceptional purity (99.8% sucrose), making it a premium food-grade product used globally in beverages, confectionery, and pharmaceuticals, known for easy dissolution, consistent sweetness, and fine granulation. The ICUMSA (International Commission for Uniform Methods of Sugar Analysis) rating measures color and purity, with 45 being the lowest (whitest, purest) number on the scale. FCE range is 44 up to 50 icumsa sold in 50 kilo tri ply craft paper, plastic lined with a moisture barrier or Polyethelye bags . NBC loads of upo to 1 MT jumbo bags avialable. Browen sugar is not avialable .Miniumum single loads of 50,000 MT or hiugher . Revolving basis prefered
RICE
Long grain rice specifications define its physical traits like length (typically > 6.0 mm with a high length-to-width ratio), texture (fluffy, separate grains when cooked), and purity levels for defects (broken kernels, yellow, damaged, or foreign matter), with quality standards varying by grade (e.g., 100% Grade B, 5% broken) and type (e.g., Basmati Jasmine, standard white). Key metrics include average grain length (around 6.9-7.0 mm), moisture content (max 13-14%), broken kernels (e.g., <1% to 5% max), and acceptable levels of discolored or damaged kernals .Sold in 20 Kg or 50 Kg bags
FCE BLACK THERMAL COAL NAR
Average grade expected or better reflects FCE price basis :
- Sulphur: 0.41%
- Ash: 7.39%
- Moisture: 6.69%
- Kcal/kg: 6400 or better
Net as Recieved: Suplier to assure no less than 60,ooo up to 80,000 MT deliveries monthly for a period of 3, 4 or 5 years as taken from a stockpile consisting of a bed and one shipment in advance as per stockpile formed rear port of loading . Coal at GAR considered.
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