Attention ALL BLCO CIF Buyer's. Terminal has straight forward Buyer friendly procedures for any serious buyer who is not ready to issue instrument for the Total Value of the Cargo upfront. Provided buyer can swift SBLC in favour of the seller for $10 million. Seller will send cargo to buyer's Port of Discharge. Kindly note ONLY TOP 25 GLOBAL PRIME BANKS accepted. Each additional 2 million cargo will means buyer needs to show an additional $10 million SBLC swift to seller's bank. Alternatively, buyer can swift MT799 Blocked Funds in favour of the seller for 6 months instead of one year and one day as originally required. Seller will need to speak to the direct buyer before the SPA is released. So please do not ask for SPA as it will NOT be released until after the conference call between buyer and seller. Direct buyer or buyer's mandate should get in touch. Seller's side is CLOSED for commissions. If you are bringing the buyer, you should be accommodated on the buy side.
+234803 080 6505
. a)BUYER SPEAKS ON A CONFERENCE CALL WITH THE SUPERINTENDENT AT THE TERMINAL TO CONFIRM PROCEDURES.
I. BUYER & SELLER SIGN AND SEAL THIS CONTRACT AND EXCHANGE THE SIGNED COPY BY ELECTRONIC MAIL. THE ELECTRONIC SIGNED COPY BY BOTH PARTIES IS CONSIDERED LEGALLY BINDING AND ENFORCEABLE.
II.BUYER’S BANK ISSUES PRE-ADVICE SBLC/MT760 TO SELLER NOMINATED FIDUCIARY BANK.
III.BUYER'S BANK SWIFT A $10 MILLION SBLC/MT760 IN FAVOUR OF SELLER (AS PER SELLER'S VERBIAGE ONLY) BLOCKED FOR ONE YEAR AND ONE DAY. (EACH ADDITIONAL 1MILLION BARRELS REQUIRES BUYER TO ADD AN ADDITIONAL $10 MILLION SBLC IN FAVOUR OF THE SELLER).
IV.SELLER'S VESSEL CAPTAIN ISSUES NOR/ETA TO BUYER'S PORT OF DISCHARGE.
VI.SELLER ENSURES THE CARGO IS REGISTERED AND DOCUMENTED IN BUYER’S NAME.
VII.CAPTAIN OF LOADED CARGO IMMEDIATELY OPENS UP COMMUNICATION WITH BUYER. AT ANY POINT OF THE VOYAGE, BUYER IS FREE TO COMMUNICATE WITH THE CAPTAIN.
VIII.VESSEL ARRIVES AT THE BUYER’S PORT OF DISCHARGE (POD).
IX.BUYER’S BANK ISSUES CONFIRMED, IRREVOCABLE, UNCONDITIONAL, DIVISIBLE, TRANSFERABLE, SBLC BY SWIFT IN FAVOR OF THE SELLER FOR THE OUTSTANDING BALANCE OF THE CARGO (AS PER ATTACHED NNPC APPROVED VERBIAGE ONLY).
(TRANSMITTED COPY OF THE SBLC WITH PIN CODES MUST BE SENT TO THE SELLER)
X. VESSEL CAPTAIN ISSUES MARINE AUTHORITY TO BOARD (MATB) TO BUYER’S NOMINATED INSPECTION COMPANY FOR QUALITY AND QUANTITY ANALYSIS TO BE CONDUCTED ON PRODUCT ON BOARD VESSEL.
XI.UPON SATISFACTORY Q&Q RESULT, PRODUCT IS DISCHARGED INTO BUYER’S NOMINATED STORAGE/TANK.
XII.WITHIN 72 HOURS AFTER DISCHARGE OF CRUDE OIL AT BUYER’S PORT OF DESTINATION THE BUYER PAYS FOR THE CRUDE OIL AS PER THE FINAL Q & Q REPORT ISSUED BY INDEPENDENT INSPECTOR AT THE PORT OF DISCHARGE.
+234803 080 6505