Sellers Published date: May 24, 2014

Quantities 1 or 2 millions bbls per month. Can be more 10 mbbls per month..;
Annual contract with R/E if required.
CIF ASWP
Seller NNPC.

BEFORE Buyer signs anything, SPA agreement document sent will report:

NNPC Allocation Number : This Reference will confirm that Seller has got Oil .
ATS : Authorisation to Sell.
Therefore BEFORE SIGNING BUYER WILL BE ABLE TO CONFIRM THAT NNPC ALLOCATION NUMBER AND ATS ARERIGHT IN LONDON AND ABUJA.
This means that SELLER WILL PROVIDE PROOF OF OIL PRODUCT, NNPC ALLOCATION NUMBER AND ATS WHEN SENDING SPA SIGNED BY THEM.
 
IN CASE THERE IS ANYTHING WRONG IN NNPC ALLOCATION NUMBER OR ATS BUYER WILL NOT BE LIABLE AT ALL TO SIGN SPA AGREEMENT DOCUMENT AND DOCUMENT WILL BE CANCELLED.
5.       After checking NNPC and ATS Buyer will sign SPA Agreement doc and will issue Non Operative Letter of Credit.
6.       Seller will issue 2 % Bond when receiving NON OPERATIVE Letter of Credit.
 
 
This procedure protects more the Buyer because in case of any problem , Oil Not being delivered CIF in  Port, BUYER CAN CASH THIS 2% BOND AND SELLER CAN NOT TOUCH NON OPERATIVE LETTER OF CREDIT.

• 
  
  
• Publisher: Collins
• Company Name: ATS Consulting
• Country: Europe

Contact this Company

You need to login/register to contact this company

               

Important information

• Avoid scams and never pay with Western Union, Moneygram or any other payment services
• We are not responsible for any decisions you make to contact any company. We are not associated with any company listed here.