Only for Sellers/Mandate Sellers or Direct to mandate sellers, if you accept the procedure of the buyer let me know, we are ready right now for this transaction. PRODUCT: BLCO (Bonny Light Crude Oil) ORIGIN: Nigeria. SPECIFICATION As BLCO Export standard QUANTITY : • 8,000,000 BBLS per months contract of one year with R & E (Up to 60 Months), Trial Shipment Up to 2,000,000 BBLS TERM 60 (Sixty) consecutive months CIF PRICE: Platt Price less $11.00 US Dollar per barrel Discount, $7.00 Net to buyer and $4.00 Commission to be paid by the Buyer as per IMPFA COMMISSIONS $ 2 USD Seller Side and $ 2 USD Buyer Side ($1,8 USD of the Buyer side must be free) DISCHARGE PORT: Port of Corpus Christi, Houston, Texas. INSPECTION: SGS, Saybolt or Intertek PROCEDURE OF TRIAL SHIPMENT: 1. The Seller issues Past Performance + FCO respecting the procedure of the Buyer. 2. In 24 Hours The Buyer issues ICPO + Company Profile + Copy Of Passport of the President 3. Seller shall issue Sales & Purchase Agreement with Sellers Full Banking Co-ordinates. Buyer and Seller sign and seal the Contract and exchange the signed copy by electronic mail. The electronic signed copy by both Parties is considered legally binding and enforceable. 4. Seller provides Buyer: a. Original Bill of Lading b. Cargo Manifest c. Certificate of Origin d. SGS, Saybolt or Intertek Q&Q Report at loading port (Is Required) e. ATS (Authorization to Sale from NNPC) 5. Upon Verification of PPOP, Buyer Bank Issues Bank Commitment to Pay (See Verbiage in Annex) to Seller’s Bank (covering product cost of current Trial shipment). Upon verification of the Bank Commitment to Pay, Seller provides cargo documents directly to the Buyer’s Principal, which includes but not limited to: a. DTA / ATB b. Crew List c. Original Certificate of Quantity d. Original Certificate of Quality e. Ullage Report f. Master’s Receipt of Sample g. Master’s Receipt for Documents h. Copy of Charter Party Agreement 1. Upon Buyer’s verification of the cargo documents, Buyer issues 3 Days Laycan and Seller instructs vessel captain to set sail for Buyer’s Discharge Port for final Q&Q. 2. Upon successful Q&Q at the Buyer’s Discharge Port, Seller unloads into Buyer’s Vessel or Tank. Seller issues Commercial Invoice for payment by MT103/TT for the full cargo in accordance with Payment Terms. 3. Upon confirmation of MT103 payment, Seller transfers the Title to the Buyer. 4. Seller and Buyer proceed forward in accordance with the signed and sealed contract. The Product is delivered as per the Delivery Schedule in the signed contract. PAYMENT TERMS OF THE CONTRACT: Payments for each BLCO delivery shall be made by SWIFT MT103/TT. Upon a successful Trial Shipment, the Buyer will issue an Irrevocable, NON-Transferable, Non-Divisible Documentary Letter of Credit (IRDLC) Automatically Replenished after each paid delivery and covering cost of 2 Shipments, for the term of the 12-month contract. Shall be in US Dollars and effected through the bank nominated by Seller (as a guarantee in case that for any reason the buyer did not issued MT103/TT). Payment for the Goods shall be made within two (02) banking days after the date of presentation of documents at the counter of buyer Bank. The Payment of the goods is making from the МТ103/TT issued by the Buyer at the presentation by the Seller the following documents regulating delivery and payment of the Goods (shipping documents): a. Commercial invoice – one (1) original plus three (3) copies. b. Full set 3/3 originals and non-negotiable copies of “Clean on Board” marine Bill of Lading, issued and signed by the Captain or shipping agent. c. Certificate of Quality issued or signed by the independent inspectors in port destinations based on Dip Test result. d. Certificate of Quantity issued or signed by the independent inspectors in port destinations based on Dip Test result . e. Certificate of Origin issued or signed by the Chamber of Commerce or Custom’s authorities, specifying the country of origin of the Product. f. The Captain’s act confirming receipt of sealed control (arbitration) samples. g. The Captain’s act confirming receipt of all the documents excluding commercial invoice. Payments are made by swift wire transfer directly to the Seller’s bank accounts and agents as stipulated in the IMFPA in this contract within three (3) international banking days after product delivery to Buyer’s nominated port of discharge against presentation of stated shipping documents (non negotiable copies) at Buyer’s bank.
Posted on: Wed, 10 Sep 2014 17:18:04 +0000