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      You are in ::  Home > Crude > Read
Crude Oil Read
Sell :: 16
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Count : 441
BLCO NIGERIA EXPORT QUALITY DELIVERY 2019-04-23
 
BLCO NIGERIA EXPORT QUALITY DELIVERY

DESTINATION : ROTTERDAM/USA/SA,CHINA.etc

ORIGIN : NIGERIA

SPECIFICATION : NNPC EXPORT STANDARD

QUANTITY: Two (2) Million or More on Monthly basis


Price :Price is 14/6

$8 to the buyer
$2 to the buyer agent (open)
$3 to the seller agent (closed)
$1 to the seller transaction handlers (closed)

PAYMENT: MT103 to be issued by Buyer's top 25 World Bank



CIF MT760 WITH 2%PB – ROTTERDAM/USA

PROCEDURE :

1. SELLER SENDS SIGNED AND SEALED SALES PURCHASE AGREEMENT (SPA) TO BUYER AND BUYER SIGNS AND SEALS THE SPA AND RETURNS (UNALTERED AND UNCHANGED) TO SELLER WITHIN 4DAYS.WITHIN 24HOURS SELLER SHALL GIVE BUYER LETTER OF CONFIRMATION AND ACCEPTANCE. THE ELECTRONICALLY SIGNED COPIES BY BOTH PARTIES ARE CONSIDERED LEGALLY BINDING AND ENFORCEABLE. SPA IS LODGED IN BUYER AND SELLER BANKS.

2. BUYER SENDS SELLER NOR/ETA/ATB FORMATS, ISSUE OF INSTRUMENT CIS/INTERNATIONAL PASSPORT COPY DATA PAGE OF SIGNATORY /CERTIFICATE OF BUSINESS REGISTRATION OR INCORPORATION.

3) BUYER SENDS PRE-ADVICE VIA MT199/MT999 TO NNPC BONNY TERMINAL NOMINATED FIDUCIARY BANK STATING BUYER BANK WILL SEND SELLER BANK MT760 SBLC UPON CONFIRMATION THAT SELLER BANK WILL POST 2% PERFORMANCE BOND UPON RECEIPT OF BUYERS MT760 SBLC.
VERBIAGE AVAILABLE FOR ADOPTION.

4. SELLER ISSUES BELOW CONFIRMATION LETTERS WITH FULL PROOF OF PRODUCT (POP) DOCUMENTS/MARINE NOTICE OF READINESS(NOR):
A. CONTRACT AUTHENTICATION/CONFIRMATION LETTER.
B. SELLER VESSEL CAPTAIN ISSUES NOR/ETA TO BUYER
C. ACCOUNT NOMINATION LETTER
D. INSTRUMENT GUIDELINES TO FOLLOW LETTER.

5. SELLER BANK CONFIRMS PRE-ADVICE AND RESPONDS TO BUYERS BANK WITH READINESS TO RECEIVE SBLC-MT760 AND ISSUE 2% PERFORMANCE BOND (PB) THROUGH A NOMINATED BANK ACCOUNT UPON RECEIPT OF FULL FUNDED SBLCMT760 INSTRUMENT.

6. BUYER UPON CONFIRMATION AND RECEIPT OF PRE-ADVICE TO ISSUE 2% PB, RESPONDS WITHIN 72HRS, BUYER'S BANK ISSUES CONFIRMED, IRREVOCABLE,UNCONDITIONAL, DIVISIBLE, TRANSFERABLE SBLC VIA SBLC-MT760 BY SWIFT IN FAVOUR OF THE SELLER (WITHIN 72HRS) ACCORDING TO SELLERS BANK VERBIAGE.

7. SELLER CONFIRMS BUYER'S BANK SWIFT SBLC-MT760 AND POST 2% PB TO BUYER NOMINATED BANK ACCOUNT.

8. NNPC BONNY TERMINAL ISSUES CONFIRMATION LETTER ON RECEIPT OF INSTRUMENT TO BUYER.

9. NNPC BONNY TERMINAL ISSUES SHIPMENT SCHEDULE FOR FIRST MONTH DELIVERY OF FIRST 2,000,000 OR 4,000,000 BARRELS SHIPMENT. FOR 1 OR 2 VESSELS OF 2,000,000 BBLS EACH. NEXT SHIPMENT SCHEDULE COMES BEFORE PAYMENT OF LAST DELIVERY. VESSEL EN ROUTE SENDS ITS UPDATED NOTIFICATION OF ARRIVAL DATE–TIME EVERY 96 HOURS, 72 HOURS, 48 HOURS,12 HOURS, AND 6 HOURS (NOR) BEFORE ARRIVAL AND UNTIL EXACT ARRIVAL DATE.

10. SELLER ENSURES THAT THE CARGO IS DOCUMENTED, REGISTERED AND OBTAINS CERTIFICATE OF OWNERSHIP/TITLE OF WARRANTY AND PROGRAME IN BUYERS NAME AT NNPC TOWERS ABUJA FCT NIGERIA. PASSWORD LETTER ISSUED TO BUYER FOR VERIFICATION ON NNPC/SHELL SCREEN/NIGERIA.

11. UPON ARRIVAL,BUYERS SHIPPING AGENT TO CLEAR THE VESSEL INWARDS AND BERTH THE VESSEL AT SAFE BERTH, VESSEL CAPTAIN ISSUES MATB TO BUYER'S INSPECTORS TO CONDUCT Q&Q. BUYER CONDUCTS Q&Q INSPECTION ON VESSEL. CIQ REPORT IS GIVEN TO BUYER AND SELLER. SELLER GIVES BUYER FINAL COMMERCIAL INVOICE.

12. VESSEL SAILS TO BUYERS STORAGE LOCATION AND COMMENCE DISCHARGE.

13. WITHIN 72 HOURS AFTER DISCHARGE OF CRUDE OIL AT BUYERS PORT OF DESTINATION/STORAGE, THE BUYER PAYS FOR THE CRUDE OIL AS PER THE FINAL QUALITY & QUANTITY REPORT ISSUED BY INDEPENDENT INSPECTOR AT THE PORT OF DISCHARGE. PAYMENTS ARE MADE BY MT103/SWIFT WIRE TRANSFER DIRECTLY TO THE SELLERS AUTHORIZED BENEFICIARY NOMINATED BANK ACCOUNTS AND BUYER PAYS ALL COMMISSION AGENTS/FACILITATORS AS STIPULATED IN THE IMFPA/SPA IN THE CONTRACT) WITHIN 72 HOURS AFTER PRODUCT DELIVERY TO BUYERS NOMINATED PORT OF DISCHARGE) AGAINST PRESENTATION OF STATED SHIPPING DOCUMENTS, Q&Q REPORTS, COMMERCIAL INVOICE ETC (NON-NEGOTIABLE COPIES) AT BUYERS BANK.
 
 Contact Information
Name   Mr. Issi Moyosore 
Company   Mosax Inc. 
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