SUBSCRIBER NOTE: Platts clarifies CIF cargo quality testing standards 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 the results of the original test cannot be repeated and/or reproduced within reasonable parameters through subsequent re-testing of the original loadport sample.

Platts considers retesting of retained samples a necessary step to determine if the original test was fully reflective of the quality delivered, and sellers should not reject such requests for retesting. 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.

This clarification note replaces a previous note published July 30.

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.