Hello Partner, Selling of crude oil is for men not for boys. There is an acceptable procedure from NNPC. I was a broker before i became a seller and with my 10 years experience, i have not seen an already loaded vessel stranded somewhere. Don't make yourself a laughing stock before your buyer! Go for the real thing!
I am ready to give you $10,000 if i didn't deliver!
Just see below.
Innocent Okafor Esq
BLCO PROCEDURE GHANA OR COTNONOU WATERS
Product: Bonny Light Crude Oil
Quantity: 1mb or 2mb
TTO Discount: $10/6
TTT Discount: $12/8
1. At the receipt of Buyer's LOI, Seller signs Contract and send to Buyer to counter-sign and both parties lodged into their respective banks. The contract becomes operational, legal and enforceable.
2. Buyer returns signed SPA with his /NOR/ATB FORMAT, with NNPC approve supercargo passport, seaman’s passport, health certificate and discharge certificate documents and tug boat details to the Seller/assignor.
3. Seller within 24hrs place $10,000 (Ten thousand dollars only) as a performance bond to buyer to assure the buyer of his readiness, willingness and ability to perform. (NOTE: Seller is to announce within 14 working days of receiving SBLC or BF or forfeit the $10,000 pb to buyer.)
4. Buyer within 3 working days, issues Standby Letter of Credit (SBLC) of $1,000,000.00 or a block fund of $65,000,000 (incase of 1mb) to activate the performance bond.
5. Seller within 5 working days load a vessel and issue ETA/NOR to the Harbour Master. Vessel moves to an agreed point of quality and quantity analysis and announce its arrival. AIS must be on and active for accurate tracking and confirmation.
6. On arrival of the pregnant Vessel at the agreed Q/Q point, Seller`s supercargo shall issue marine ATB and clearance to Buyer’s Supercargo and Inspectors to go on board Sellers pregnant vessel to carry out Q&Q at Buyer`s expense. Note: Buyer`s Super cargo must board within 72hours of receiving Marine Authority To Board or pay any demurrage incured.
7. After boarding and confirmation of the cargo by the inspectors and supercargo, initial BG turns into cash into Seller's account for logistics. Inspectors takes sample for analysis.
8. Based on Q/Q report, Buyer places full instrument, MT103/23 for total cargo. Note: Report must be sent to both Buyer and Seller.
9. All documents will be issued by Seller in Buyer's name.
10. Buyer pays out-rightly for the total cargo and agents commission according to Q/Q result after presentation of the cargo documents via swift/wire transfer.
11. Buyer places full charter on the vessel and takes over and sail to her final destination.
12. Roll over continues as another contract will be signed for a longer period. Eg; 2mb per month for 12months or beyond.
Note: LOI is to MD, SOLID GOLD INTL PARTNERS LTD.