WE NEED CONFIRMABLE BUYER FOR CONTRACT
Subject: Fw: CRUDE OIL FOR SALE ON F.O.B.
*BLCO BULK ALLOCATION*
*QTY:AS PER BUYER’S ORDER
*DISCOUNT:$14 LESS $4
*NON-NEGOTIABLE RE-ASSIGNMENT PROCEDURES:
1. SELLER ISSUES DRAFT CONTRACT /SPA ELECTRONICALLY INCLUDING SELLERS PROCEDURES AND SELLERS FORMAT FOR SBLC IN ADDITION TO THE NCNDA/IMFPA. THIS ELECTRONIC DOCUMENT TRANSMISSION SHALL BE DEEMED TO BE VALID AND ENFORCEABLE IN RESPECT OF THE PROVISION OF THIS CONTRACT. EITHER PARTY SHALL BE ENTITLED TO REQUEST AND RECEIVE A HARD COPY OF ANY PREVIOUSLY SUBMITTED ELECTRONICALLY TRANSMITTED DOCUMENTS.
2. BUYER SIGNS AND SEALS THE SPA, RETURN WITH FULL IRREVOCABLE CORPORATE PURCHASE ORDER (ICPO) INCORPORATING SELLERS TERMS AND PROCEDURES IN ADDITION TO FULL BANKING DETAILS/REFERENCES FROM ONE OF THE 25 PRIME WORLD BANK, CONTAINING TWO NAMES OF SIGNATORY TO THEIR BANK ACCOUNT, THAT WILL GO TO NNPC TOWERS FOR COMFIRMATION OF ALLOCATION + COMPANY PROFILE + POWER OF ATTORNEY+ SCANNED COPIES OF BUYERS COMPANY REGISTRATION CERTIFICATE + CIS/KYC + COLOR COPY OF THEIR INTERNATIONAL PASSPORT TO SELLER: STRICTLY ADDRESSED TO:
THE GROUP MANAGING DIRECTOR,
NIGERIA NATIONAL PETROLEUM CORPORATION (NNPC)
NNPC TOWERS, CENTRAL BUSINESS DISTRICT
ABUJA F. C .T. NIGERIA.
ATTN: XXXXXXXXXXXXXXXXXXX(SELLER'S NAME)
C/O: THE ENERGY DEPARTMENT
FIRST CITY MONUMENT BANK
CC: PPMC AND BONNY OFFSHORE TERMINAL
3. BUYERS BANK SENDS BY SWIFT OPERATIVE IRREVOCABLE, UNCONDITIONAL, CONFIRMED, FULLY FUNDED SBLC VIA SWIFT MT760 TO SELLER COMPANY BANK, AS PER SELLERS VERBIAGE TO PAY-OFF ALLOTTEE PREMIUM, AGENTS AND ALL INTERMEDIARIES UPON CONFIRMATION OF ALLOCATION AND ATTESTATION AND LC FOR TOTAL ALLOCATION. VALIDITY SHALL BE ONE YEAR + ONE DAY.
4. SELLER (NNPC) VERIFIES AND CONFIRM THE SBLC, THROUGH THEIR COUNTRYS HIGH COMMISSION AND BANK, IF CONFIRMED GENUINE, UPON ACCEPTANCE, SELLER SHALL ISSUE DIRECT INVITATION TO BUYER, BUYER AND SELLER WILL ENTER NNPC TOWERS CENTRAL BUSINESS DISTRICT ABUJA FOR CONFIRMATION OF ALLOCATION.
5. UPON SUCCESSFUL CONFIRMATION AND VERIFICATION OF ALLOCATION DOCUMENT AT NNPC TOWERS AND ATTESTATION RELEASED, BUYER WILL PLACE HIS FINANCIAL INSTRUMENT (LC) FOR THE WHOLE ALLOCATION QUANTITY ACCORDING TO REQUIREMENT BY NNPC,
AND PAY-OFF THE ALLOTTE PREMIUM AND ALL AGENTS/CONSULTANTS/FACILITATORS AND INTERMEDIARIES COMMISSIONS IN GROUPS AS DETAILED IN THE SIGNED/SEALED PAYMENT INVOICE / SCHEDULE / AGREEMENT FROM (XXXXXXXXXXX SELLER'S NAME) THE-SAME DAY.
6. UPON SUCCESSFUL CONFIRMATION OF ALL COMMISION EARNERS INTO THEIR GIVEN ACCOUNTS, NNPC/SELLER REASSIGNS ALLOCATION IN BUYERS NAME, AND SEND ALLOCATION SOFTCOPY TO BUYERS EMAIL FROM NNPC OFFICIAL CRUDE OIL DOMAIN EMAIL. ALL NECESSARY HAND OVER AND LIFTING RIGHT DOCUMENTATION AND PROGRAMMING IS PROCESSED IN FAVOUR OF BUYER OR IN BUYERS NAME.
7. WITHIN TEN TO FOURTEEN (10-14) BANKING DAYS, THE SELLER NOTIFIES AND SENDS THE BUYER THE FOLLOWING:
A) ALLOCATION FOR THE ENTIRE QUANTITY PAID FOR, DIRECTLY FROM NNPC IN THE BUYER'S NAME.
B) THE PIN CODE TO BE USED, TO CONFIRM THE REGISTRATION OF THE TOTAL ALLOCATION, ON THE LONDON NNPC/SHELL SCREENS. THE NNPC/SHELL SCREEN MUST SHOW THE TOTAL ALLOCATION IN THE BUYER'S NAME.
C) CERTIFICATE OF ALLOCATION
D) AUTHORITY TO SELL.
8. BUYER WILL HANDLE VESSELS NOMINATION AND SHIPMENT, LOADING AND LIFTING PROCESS ON HIS OWN AND LIFTING AND SAILING COMMENCES ACCORDING TO LAYCAN GIVEN DATES ACCORDINGLY
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- Publisher: Israel Mathew
- Company Name: IS
- Country: Nigeria
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