1. The provisional price of Goods is calculated in accordance with the following formula:


Pr(P) = (Pl(P)+D)*1.10 + k(P))/K(P) EUR/USD, where

Pl(P) is the average value of the basic quotations for the period from the 1st to  24th quotation day (inclusive) of the month preceding  the month of the final price formation for the agreed Goods lot, given in US dollars per metric ton for the respective position as per quotations of  Platts’s  agency in its  publication  “Platt’s European Marketscan”; 

D is the correction (on Goods delivery basis) as agreed by the parties, in US dollars per metric ton;

k(P) is the value of rail rate for transportation of 1 metric ton of Goods from the station of Novopolotsk (Belarusian Railway) to the particular border terminal,  for four-axle cars of general stock with the load of 50 tonnes, that is valid as for the day of sale of Goods and that is calculated on the basis of the average US dollar to Belarusian ruble rate of the month preceding  the month of sale that is published at the website of the National Bank of the Republic of Belarus;

K(P) EUR/USD – is the official Euro/US Dollar exchange rate: EUROS/US DOLLARS FOREIGN EXCHANGE REFERENCE RATE of the European Central Bank (ECB) fixed at 14:15 of the Central European Time (CET time) of the day following the date of the Goods confirmation for sale and quoted on www.ecb.int. In the event that there is no ECB rate quoted on such day the next following publication shall apply. 

 

2. The final price formula is chosen by the Buyer:


Variant 1:   Pr (F) = (Pl (P) +D + k(F))/ K(P) EUR/USD +( Рl (F) - Рl(P))/ K(F) EUR/USD, where

Pl(P) is the average value of the basic quotations for the period from the 1st to 24th quotation day (inclusive) of the month preceding  the month of the final price formation for the agreed Goods lot, given in US dollars per metric ton for the respective position as per quotations of  Platts’s  agency in its  publication  “Platt’s European Marketscan”;

D is the correction (on Goods delivery basis) as agreed by the parties, in US dollars per metric ton; 

k(F) is the value of rail rate for transportation of 1 metric ton of Goods from the station of Novopolotsk (Belarusian Railway) to the particular border terminal,  for four-axle cars of general stock with the load of 50 tonnes, that is valid as for the day of Goods dispatch and that is calculated on the basis of the average US dollar to Belarusian ruble rate of the month preceding  the month of sale that is published at the website of the National Bank of the Republic of Belarus;

K(P) EUR/USD is the official Euro/US Dollar exchange rate: EUROS/US DOLLARS FOREIGN EXCHANGE REFERENCE RATE of the European Central Bank (ECB) fixed at 14:15 of the Central European Time (CET time) of the day following the date of the Goods confirmation for sale and quoted on www.ecb.int. In the event that there is no ECB rate quoted on such day the next following publication shall apply.

Pl (F) is  the arithmetic average of basic quotations throughout all quotation days of the month of the final price formation for the respective position in accordance with quotations of «Platt’s» agency in its publication Platt’s European Mаrketscan indicated while confirming a definite Goods lot, in USD per metric ton;

K(F) EUR/USD is the official Euro/US Dollar exchange rate: EUROS/US DOLLARS FOREIGN EXCHANGE REFERENCE RATE of the European Central Bank (ECB) fixed at 14:15 of the Central European Time (CET time) and quoted on www.ecb.int on the 2nd banking day  of the month following the last quotation day of  final price formation. In the event that there is no ECB rate quoted on such day the next following publication shall apply.


Variant 2:   Pr (F)=(Рl (F) + D + k(F))/ K(F) EUR/USD, where

Рl(F) is the arithmetic average of basic quotations throughout all quotation days of the month of the final price formation for the respective position in accordance with quotations of «Platt’s» agency in its publication Platt’s European Mаrketscan indicated while confirming a definite Goods lot, in US dollars per metric ton;

k(F) is the value of rail rate for transportation of 1 metric ton of Goods from the station of Novopolotsk (Belarusian Railway) to the particular border terminal,  for four-axle cars of general stock with the load of 50 tonnes, that is valid as for the day of Goods dispatch and that is calculated on the basis of the average US dollar to Belarusian ruble rate of the month preceding  the month of sale that is published at the website of the National Bank of the Republic of Belarus;

K(F) EUR/USD is the average value of ЕURO/US DOLLAR FOREIGN EXCHANGE REFERENCE RATES as fixed by the European Central Bank (ECB) at 14:15 of the Central European Time throughout all days of the month of final price formation and quoted on www.ecb.int.