Decide on a term,1 start date and fuel volume (usually calculated monthly).
Negotiate a fixed price (swap price) with National Bank.
Buy fuel from the supplier of your choice, at the price offered at the time of purchase.2
At the end of the term, settle up any difference between the market price and the swap price.
National Bank will pay you the difference between the swap price and the market price for the value of the contract.
You will pay National Bank the difference between the swap price and the market price for the quantity negotiated for the swap.
TM National Bank Business Central is a trademark of National Bank of Canada.
1 Term of one month to three years
2 Price available at the time of purchase: current market price (spot price) +/- local cash basis.
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3 Subject to credit approval by National Bank of Canada.