Sellers Published date: April 3, 2020

We direct from our source BALCO from seller to your interested buyer to issue below LOI


Company Letter head
< Company Address>
Our Ref: xxxxxxxxxxx
Date of Issue:
To:
SELLER MANDATE
RICHARD-LEWIS EZEKPO
DIRECTOR
RICHARD-LOUIS TRADING COMPANY LTD
From: {BUYER COMPANY}
DEAR SIR,
Letter of Intent and Acceptance of Procedure letter
We, < BUYER COMPANY NAME> acting with full corporate responsibility, hereby state and
represent our intention to purchase, and we hereby confirm that we are ready, willing and
able to purchase the following commodity as per specification and quantity subject to an
agreed mutual price as specified in the terms and conditions as stated below. We are legal
signatory with full corporate power to produce acceptable banking instrument to activate a
valid sales and purchase contract between ourselves and the SUPPLIER / EXPORTER
1) Commodity Type:
2) Specification:
3) Origin:
4) Total Quantity:
5) Contract Period:
6) Target Price:
7) Delivery Schedule:
8) Target Delivery Date:
9) Location Country:
10) Payment Terms:
11) Inspection:
12) Performance Bond:
13) Validity of LOI:
Bonny Light Crude Oil
NNPC Standard Export Grade
FEDERAL REPUBLIC OF NIGERIA

MINIMUM OF 12 MONTHS
GROSS $10 / $6 NET TO BUYER
CHINA TANK FARM
STATE WHAT DATE
PEOPLE REPUBLIC OF CHINA
MT799, FINAL PAYMENT BY MT103
SGS OR EQUIVALENT
(As per procedure below if required)
NOMINATED SELLER PROCEDURE FOR CHINA ONSHORE TANK FARM FOR MT799
a. BUYER ISSUES LOI WITH END BUYER COMPANY REGISTRATION AND AUTHORITATIVE BUYER
SIGNATORY PASSPORT DATA PAGE.
b. SELLER COMPANY PROVIDES SPA FOR BUYER TO SIGN AND RETURN.
c. BUYER RETURNS SPA SIGNED WITH CIS OF THE ACCOUNT HOLDER THAT WILL ISSUE MT799.
POF- RWA LETTER FROM BANK OFFICER THAT WOULD ISSUE MT799.THE SEAL SIGNED SPA
CONTRACT IS EXCHANGED BY ELECTRONIC MAIL. THE ELECTRONIC SIGNED COPY BY BOTH
PARTIES IS CONSIDERED LEGALLY BINDING AND ENFORCABLE.
d. SELLER COMPANY WRITES BUYER VIA ELECTRONIC MAIL WITH STATEMENT OF PRODUCT
AVAILABILITY, SELLER’S COMPANY READINESS TO SUPPLY.
e. BUYER RESPONDS BY SENDING DETAILED NOR/ETA/ATB FORMATS AND BUYER’S BANK’S
MT799 PRE-ADVICE (USING SELLER COMPANY VERBIAGE AS WORDED) TO SELLER’S BANK
WITHIN 48 HRS. A COPY OF THE SWIFT TO BE EMAILED TO SELLER COMPANY FOR
REFERENCE. CONTRACT WILL BE NULL AND VOID IF BUYER SWIFT MT799 (180 DAYS) IS
DIFFERENT FROM THE SELLER COMPANY GIVEN VERBIAGE AS PER THIS CONTRACT.
 Seller’s bank acknowledges receipts of buyer’s mt799 pre-advise and stating
their readiness to receive MT799 bloc fund via swift for (180) days.

f. BUYER’S BANK UPON RECEIPT OF ACKNOWLEDGEMENT FROM SELLER’S BANK ISSUES MT799
BLOC FUND VIA SWIFT FOR 180 DAYS TOTALLING THE COST OF THE FULL PAYMENT.
g. UPON RECEIPT AND CONFIRMATION OF BUYER INSTRUMENT, SELLER COMPANY
INSTRUCTS NNPC TO ISSUE CARGO DOCUMENTS; NAMELY DTA AND WARRANTY OF TILTLE
(WOT) IN BUYERS NAME FOR DIP TEST EXERCISE.
h. SELLER COMPANY INSTRUCTS THE TANK FARM MANAGER VIA NNPC TO RECEIVE AND TAKE
BUYER’S INSPECTORS FOR DIP TEST. SELLER COMPANY/ NNPC WILL COORDINATE WITH
CHINA CUSTOM AUTHORITY FOR FULL CUSTOM CLEARANCE FOR THE ON-SHORE
TANKS PROVIDED.
i. UPON QNQ/CIQ, AND WITHIN 48 HRS AFTER SELLERS BANK RENDERS FULL SET OF
DOCUMENTS WITH CHINA CUSTOM CLEARANCE CERTIFICATE ON BUYER NAME, BUYER
MUST MAKE 100% PAYMENT TO SELLER NOMINATED ACCOUNT VIA MT103 PER OUT TURN
OF BARRELS TO THE SELLER.
j. WITHIN ONE (1) BANKING DAYS AFTER BUYER’S FINAL PAYMENT, SELLER WILL RELEASE ALL
COMMISSION AS PER IMPFA ON THIS CONTRACT.
k. CARGO COMMENCES DISCHARGE INTO BUYER’S TANK
BUYER COMPANY:
ADDRESS:
TELEPHONE:
FAX:
EMAIL:
We understand that any offer to purchase is subject to successful/Buyer Verification of the
availability of funds. We hope to get a favourable and prompt attention to this letter of intent
and hope look forward to receiving your Confirmation on a FCO shortly.
Thank you for your anticipation.
Yours Sincerely,
…………………………..
{NAME OF AUTHORISED SIGNATURE}
On behalf of

• 
  
  
• Publisher: V R Krishnakumar
• Company Name: Central Processor Global Inc. Slofter
• Country: India

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