Sellers Published date: February 5, 2015

2 to 4 million barrels monthly X12 months

Price to be agreed on between buyer and seller

PROCEDURES:
1.Buyer sends LOI, Seller's Sends SCO/FCO
2. Buyer returns ICPO
3. Seller provides draft contract for openly amendable and signing by parties
4. Buyer's bank issues BCL to seller's bank
Seller bank issues an in-operative 2%pb to Buyers bank
5. Buyer's bank issues irrevocable non-transferable LC/BG/SBLC to Seller's nominated bank beneficiary after receipt of 2%pb
6. Seller commence the shipment within 20 working days after LC receipt of buyer
7. Buyer will wire by T/T to seller after CIQ inspection at discharge port
8. Seller refunds commission within 48 hours after receipt of buyer's payment to intermediates

Please note that any buyer asking for ATS,POP or any NNPC related document will not get it as it does not exist,a seller can only get ATS when he has placed an instrument for NNPC and they've awarded him an authority to sell a loaded cargo,so the only proof is that seller will place a 2%pb and we can also arrange a TTM between the end seller and the potential buyer in Nigeria.

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• Publisher: yemiolad
• Company Name: Philad Global Resources
• Country: Nigeria

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