Premium Discovery Contract
650,000 tons of 6070 export bitumen of Jey Oil Refinery Complex will be sold on the table in the form of 61 premium discovery contracts in Iran Commodity Exchange.
Supply of 6070 bitumen for export of Jey Oil Refinery, while the contracts are offered in two volumes of at least 2500 and 5000 tons, and the final transaction date of the contracts is from June 27, 2016 to March 11 of this year.
5 advantages of premium discovery contract for bitumen export:
Advantage 1 (production planning)
With the help of a premium discovery contract, the manufacturer can produce for different time periods and based on the concluded contracts.
Advantage 2 (Price risk coverage)
In this type of contract, the effects of changes in the price of products in accordance with market conditions are covered, because the final price of goods in this type of contract is final at the time of the transaction.
Advantage 3 (financing)
Another advantage of these contracts is in terms of financing, because the buyer pays a small part of the transaction amount at the time of concluding the contract.
Advantage 4 (Development of Derivatives)
With the development of financial instruments, including the premium discovery contract and its role in introducing and launching the market for petroleum products, Iran can be considered as a price determination index in the world.
Advantage 5 (close monitoring and transparency of transactions)
With the mechanism installed in these transactions, the Commodity Exchange has the necessary time in the section of monitoring the buyer's ability and inspecting the available documents, because the Exchange knows from today what transactions are done for a certain date and can meet the conditions of buyer and seller. Examine the existing terms and conditions.
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