Sellers Published date: November 28, 2014

Procedure:

Buyer and Seller sign and seal the 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 must not be changed. The executed SPA is lodged in their respective banks.
Seller provides Current Proof of Product (POP).
Within three (3) banking days of (B) above, buyer’s bank issue Non-Operative SBLC via MT760, DLC (MT700), or Bank Guarantee after verification of “B” above.

Seller’s bank issue 2% Performance Bond to activate the Stand-By Letter of Credit. (There shall be NO upfront Performance Bond whatsoever).
E.Within five (5) banking days, after receipt and positive confirmation of SBLC (MT760), DLC, or BG as per (C), above, Seller issues a verifiable VLCC nomination.

F.Seller programs Vessel and obtains Laycan, pay loading cost and loads Vessel in Buyer’s name.

G.Seller conduct loading and provide Non Negotiable shipping documentations to the buyer, with the buyer designated as the consignee of the cargo.

H. Within 24 banking hours after discharge of crude oil at Buyer’s port of discharge and presentation of Seller’s Invoice, Discharge Certificate and Shipping Documents at Seller’s Bank, Full Payment is made by Swift transfer.

I.Next Shipment.

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• Publisher: DUNNAMIS INTERNATIONAL ENT
• Company Name: DUNNAMIS IN'TL ENT
• Country: NIGERIA

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