HOT OFF THE PRESS, BLCO CHINA,WATER 2 MIL BBLS.
PROCEDURE: BLCO - Cargo already in China waters.
Spot Quantity: 2,000,000 BBLS (+/- 10%) PER SHIPMENT
Price Discount – $3 net to buyer (off EU BRENT)
PROCEDURE:
1. Buyer sends CP+CIS/KYC+ICPO
2. Seller provides CI + Load Port POP documents for the Nomination
3. Buyer signs the CI back and also shows the following documents:
a) Import Quota
b) Foreign Trade License
c) Business License
d) Hazardous Goods Permit
e) Port Agents Appointment
f) Logistics – Shore Tanks
g) DLC or SBLC Verbiage
4. Seller provides China Port Agents details and Vessel position. (>72hrs from Buyer Disport)
5. Buyer will issue Letter of Credit to Sellers account and within 48hrs. {NOTE: LC shall be issued for a minimum of 45 days as per banking requirement for SPOT)
6. LC in place Seller Vessel proceeds to enter the China POD and Agents arrange all the formalities for inward clearance. {NOTE: Seller bears the cost of vessel clearance into the buyer’s discharge port}
7. Vessel goes to berth and unloads the cargo to Buyers Shore Tanks.
8. QnQ completed and documentation issued for payment.
9. Buyer pays within 48hrs of the QnQ Report and via MT103/TT Cash Wire.
10. Seller vessel leave the Port and deal over.
11. Buyer signs Long term contract and issues a 365 days SBLC or LC.
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- Publisher: Middle East Royal Trade
- Company Name: Middle East Royal Trade
- Country: USA
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