Sellers Published date: April 18, 2014 Modified date: January 2, 2015

BLCO AVAILABLE FOR SUPPLY FOR ; TTO, FOB & TTT OFFERS (DOLLAR DEAL)

KINDLY SEE THE PROCEDURES BELOW FOR BUYER(S) TO CHOOSE WHICH OF THE PROCEDURES THEY ARE READY TO WORK WITH.

BUYER MUST BE READY TO ISSUE AN LOI BEFORE SELLER RELEASES HIS SPA TO BUYER. LOI MUST COME FROM THE END BUYER. KINDLY CONTACT ME SO I CAN SEND YOU THE SELLER'S LOI FORMAT.

KINDLY SEND ME AN EMAIL FOR MORE DETAILS SELLER'S OFFER ON TTO, TTT & FOB.

NO UPFRONT PAYMENT/INSTRUMENT REQUIRED.

QUANTITY AND DURATION:
2,000,000 – 10,000,000 barrels +/- 10%, x 12 MONTHS with possible rolls and extension at both parties discretion.


#1 TTO PROCEDURE $12/$8: (TTO WITH Q&Q & PAYMENT IN
NIGERIAN WATERS/BUYER IS RESPONSBLE FOR BOARDING HIS TEAM)
1. Buyer issues LOI and Company Profile OR Seller mandate speak to Buyer or Buyer mandate to confirm Buyer.

2. Seller issues sign Contract (SPA) to Buyer.

3. Buyer return sign SPA to Seller with: 1) Buyer’s ATB Format, which shall include the nominated Inspection Company & contact details, (Note that NNPC requires the Buyer’s supercargo to have apart from his int’l passport, a seaman passport, safety certificate and discharge certificate) and the Super cargo must also be an approved NNPC/JV certified Super cargo, and

2) a photocopy of the Supercargo I.D. with telephone number
3) Tugboat receipt & details.

4. Seller issues verifiable Marine ATB and Clearance for Buyer’s Supercargo and Inspector to board.

5. At Buyer’s own expense, Buyer’s Inspectors and Supercargo board loaded vessel within 48 hrs. after MATB & CLEARANCE is issued in Nigerian water to confirm the cargo, and conduct Quality and Quantity (Q&Q) inspection.

6. Buyer Inspector carries and Q&Q and SGS report is sent to both Seller and Buyer and their respective banks, and Buyer and Seller confirm Q&Q Tests Results.

7. Buyer SWIFT MT103 to Seller account for entire loaded cargo.

8. Seller issues Commercial Invoice for the value of the measured barrels as determined by the Q&Q report, and collates and transfers all shipping documents and vessel Charter in Buyer's name.

9. Payment for the full Cargo is effected by the Buyer’s Bank SWIFT WIRE TRANSFER to Seller’s designated Account and to all Agents, Facilitators and Consultants within 48 hours after Tanker-Take-Over by the Buyer.

10. Buyer takes over the Vessel.

11. Vessel sails to Buyer’s POD. Transaction is closed and next shipment is scheduled.

__________________________
#7 FOB SPOT 12/8 PROCEDURE WITH 2%PB: (LOADING IN COTONOU
WATERS)
1. Buyer issues LOI and Company Profile OR Seller mandate speak to Buyer or Buyer mandate to confirm Buyer; then Seller issues SPA.
2. Buyer and Seller sign and seal Contract including banking coordinates and exchange the signed copy by electronic mail. The electronic signed copy by both Parties is considered legally binding and enforceable and return with Buyer vessel complete particulars:
1) Charter Receipt,
2) CPA,
3) Q88
4) ATL.

3. Seller’s vessel captain issues Notification of Readiness (NOR) to Buyer vessel Captain. Buyer vessel Captain replies with ETA.
4. Seller places Supercargo on Buyer vessel to confirm vessel readiness for Transhipment.
5. Seller’s bank issues in favor of Buyer 2% Performance Bond.
6. The Buyer's bank, from receipt of the Seller's 2% PB, opens the agreed instrument, either a: (SBLC / BG via MT760 or TRDLC or MT-103/72) in favor of the Seller covering the total cargo to activate Seller’s PB.
7. Seller loaded vessel sails to COTONOU INTERNATIONAL WATERS for Q&Q.
8. Buyer Inspector boards Seller loaded vessel and carries out Q&Q (at Buyer expense.)
9. After SGS Reports comes out, Seller vessel longside Buyer vessel and TRANSFER crude to Buyer vessel.
10. Buyer SWIFT MT-103/72 payment for the entire cargo.
11. Within seven (7) banking days of above, Seller furnishes Full POP documents to Buyer and/or Buyer’s bank.
12. Payments are made by SWIFT Wire Transfer directly to the Seller’s bank accounts and agents’ commissions as stipulated in the IMFPA in this contract within three (3) international banking days after product for Tankto-Tank Transshipment against presentation of stated shipping documents (non-negotiable copies).

Segun Marcus

• 
  
  
• Publisher: Segun Marcus
• Company Name: Marcus Energy Resources
• Country: Nigeria

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