Sellers Published date: March 15, 2015 Modified date: March 15, 2015

BONNY LIGHT CRUDE OIL

COMMODITY: NIGERIAN CRUDE (BLCO)

QUANTITY: 4 MBBLS

PRICE: Less US$8.00 BELOW

COMMISSION: US$5.00 Net to Buyer,

US$3.00 to Agents & Facilitators

US$ 1.50 SELLERS AGENTS/FACILITATORS;
US$ 1.50 BUYERS AGENTS/FACILITATORS,


CIF PROCEDURE

1. Buyer and Seller sign and seal Sales/Purchase Agreement and deposit same with their respective Banks. The electronic signed Agreement by both parties is considered legally binding and enforceable.

2. Buyer’s bank request for Sellers VERIFIABLE POP, and Seller’s Bank sends verifiable POP to Buyer’s bank for verification.

3. Buyer confirms POP and sends POF (LC, BG OR MT799 BLOCK FUND) in favor of Seller via swift to Seller’s Bank for the total cost of cargo. The LC, BG OR MT/799 BLOCK FUND must come from a top US/European Bank.

4. Seller’s Bank on receipt of LC, BG or MT799 BLOCK FUND issues a 2% PB to the Buyer’s Bank in three working days.

5. Seller provides Buyer with verifiable CPA, Q88, Programmed Vessel and other documents showing cargo ownership in Buyer’s name. Documents can be confirmed on Shell Screen London/Abuja/Bonny NNPC office, for Buyer’s confirmation.

6. Seller loads vessel and conducts Q &Q in Buyer’s name.

7. Master of the vessel releases NOR/ ETA to the Buyer’s Port of Discharge.

8. Vessel sails to Port of Discharge and discharges.

9. Buyer releases Mt103/23 to Seller’s Bank and all nominated accounts as stipulated in the Contract by KTT Wire Transfer.

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• Publisher: Ken
• Company Name: Bes Solutions
• Country: UK

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