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      You are in ::  Home > Crude > Read
Crude Oil Read
Sell :: 527
Buy :: 154
News :: 17
Count : 54
CHINA ONSHORE TANK FARM PROCEDURE FOR SERIOUS BUYER'SO @ $8/4 2018-06-14
 
CHINA ONSHORE TANK FARM PROCEDURE
1) SELLER ISSUES DRAFT SPA WITH IMFPA VERBIAGE, BUYER SIGNS & SEAL SPA AND RETURN ALONGSIDE WITH ITS BANK CONTACT DETAILS. THE ELECTRONIC SIGNED COPY BY BOTH PARTIES IS CONSIDERED LEGALLY BINDING & ENFORCEABLE
2. BUYER'S BANK ISSUES RWA (MT199/MT999/MT799/MT760) THROUGH SELLER'S NNPC NOMINATED BANK
2) SELLER ISSUES CHINA TANK STORAGE RECEIPT (TSR), NNPC AUTHORITY TO SALE (ATS), PROFORMA INVOICE (PI) TANK FARM MANAGER'S INFORMATION/ CONTACT FOR VERIFICATION.
3) BUYER CONFIRMS “TSR & ATS” AND BUYER’S BANK ISSUES “MT103/23/MT799/MT760 CONDITIONAL” FOR ENTIRE CARGO VALUE, TO SELLER’S NOMINATED BANK WITHIN FIVE (5) INTERNATIONAL BANKING DAYS AFTER SPA SIGNED.
4) NNPC – SELLER ISSUES “DTA” AUTHORIZATION TO BUYER FOR “Q&Q/CIQ” ANALYSIS WITH INSPECTION ON LAND STORAGE TANKS. AND WITHIN THREE (3) INTERNATIONAL BANKING DAYS INSPECTORS RELEASE REPORT TO BOTH PARTIES. WHILE SELLER ISSUES COMMERCIAL INVOICE TO BUYER WITH EXACT Q&Q REPORT FIGURES
5) BUYER’S BANK MAKE FULL PAYMENT VIA “MT103 CASH TRANSFER, FOR CARGO INTO SELLER’S NOMINATED ACCOUNT AND COMMISSION TO AGENTS SIMULTANEOUSLY AS SPECIFIED IN THE “SPA” WITHIN 72 HOURS AFTER INSPECTION AGAINST Q&Q REPORT, COMMERCIAL INVOICE AND CARGO DOCUMENTS.
6) SELLER IMMEDIATELY REGISTERS POP AND OBTAINCERTIFICATE OF OWNERSHIP IN BUYER’S NAME. ALL POP AND OWNERSHIP DOCUMENTS TO BE GIVEN BUYER IMMEDIATELY AFTER RECEIPT OF CARGO FULL PAYMENT.
7) AFTER CONFIRMING THE PAYMENT, BUYER LEASE SELLER’S TANK FARM (START FROM THE DAY OF CIQ COMPLETION) AND TRANSFER FUEL TO BUYER’S REFINERY
8) SELLER MAKES SUBSEQUENT SHIPMENTS ON SIMPLE CI/DIP/PAY BASIS FOR ELEVEN (11) MONTHS PER SCHEDULE.

HAVE A NICE DAY,
BLISS OIL/GAS
+2347089654495
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