SUBSCRIBER NOTE: Platts clarifies standards for CIF cargo quality testing in MOC transactions

Platts wishes to clarify that, for CIF basis cargo transactions concluded in its Market on Close assessment processes, Platts assessments reflect trades where the quality and quantity are established at load port, except in cases of fraud and/or manifest error.

This does not preclude a buyer from potentially having a valid claim if the original test of a load port sample is proven to be inaccurate because it cannot be repeated and/or reproduced within reasonable parameters through subsequent re-testing of the original loadport sample.

If a buyer in a transaction published during the Platts MOC assessment process requests a re-test of the retained load port sample, the seller must not reject this request. Buyers' requests to re-test the load port sample should be made only in cases where later testing differs from the load port test beyond repeatability and/or reproducibility.

Please send feedback and comments to europe_products@platts.com and pricegroup@platts.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.