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      You are in ::  Home > Crude > Read
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BLCO CIF: Delivery Procedures on CIF @ $10/6/4 2018-07-13
 


CONTRACT PROCEDURE/BANKING PROCEDURE/TIMELINE*

Note: Instruments below-mentioned must be issued from prime bank and Seller, Buyer and their approved agents/facilitators must acknowledge receipt of all mails and documents.


1. CONTRACT STEP 1 – SELLER PROVIDE SPA. BUYER & SELLER EXECUTE/SIGN CONTRACT SPA. BUYER RETURN SIGNED CIS, SPA WITH ATB FORMAT/SUPERCARGO & INSPECTOR’S DETAILS AND PASSPORT.
SELLER ISSUE HIS BULK ALLOCATION/ATS LETTER AND CORPORATE ASSURANCE LETTER TO BUYER CONFIRMING HIS ABILITY TO PERFORM AND DELIVER CARGO TO BUYER'S NOMINATED SAFE PORT UPON RECEIPT OF BUYER'S VALID BANK INSTRUMENT.

2. CONTRACT STEP 2 –BUYER'S BANK ISSUE PRE-ADVICE OF MT103 TO SELLER’S NOMINATED BANK, SELLER DIRECT NNPC TO ISSUE PARTIAL POP (ATS, BILL OF LADING & CARGO MANIFEST) IN BUYER’S NAME VIA THEIR OFFICIAL EMAIL TO THE BUYER. SELLER ALSO INSTRUCT LOADED VESSEL CAPTAIN TO ISSUE NOR/ETA TO BUYER/BUYER’S SHIPPING AGENTS/HARBOR MASTER.


3. CONTRACT STEP 3 -.BUYER VIA HIS BANK SWIFT A CONFIRMABLE BANK INSTRUMENT OF MT103/23 (IN-LINE WITH SELLER’S BANK APPROVED VERBIAGE) INTO SELLER’S NOMINATED FIDUCIARY ACCOUNT. BUYER BANK HAS TO MAIL A COPY OF THE SWIFT OF THE BUYER'S INSTRUMENT TO THE SELLER AS “PROOF OF TRANSMISSION”NOT MORE THAN TWENTY-FOUR (24) HOURS OF INTERNATIONAL BANKING DAY (S) FROM THE DAY OF THE SWIFT


4. CONTRACT STEP 4SELLER, UPON RECEIPT/CONFIRMATION OF THE ABOVEMENTIONED DOCUMENTS, INSTRUMENT AND INFORMATION IN STEPS (1), (2) & (3), DIRECT VESSEL CAPTAIN TO OPEN COMMUNICATION WITH BUYER’S SHIPPING AGENT AND ARRANGE FOR BERTHING AT BUYER’S PORT.

5. CONTRACT STEP 5 –SELLER REGISTER/REASSIGN CARGO ONBOARD THE VESSEL IN BUYER’S NAME/FAVOR ON NNPC DATABASE AND RELEASES THE FULL POP OF THE NOMINATED VESSEL ASSIGNED TO BUYER & HEADING TO BUYER’S NOMINATED PORT WITHIN SEVEN (7) DAYS.

6. CONTRACT STEP6– UPON VESSEL ARRIVAL, VESSEL CAPTAIN OPEN COMMUNICATION WITH THE BUYER’S SHIPPING AGENT (S), ANNOUNCE ITS ARRIVAL ON BEHALF OF BUYER AND ISSUE DIP TEST AUTHORIZATION/ATB TO BUYER/BUYER’S INSPECTION CREW. SELLER ENSURES THAT CHINA NAVY/CUSTOM CLEARANCE CERTIFICATE IS ISSUED TO BUYER’S INSPECTION CREW. WITHIN 48 HOURS, BUYER NOMINATE INSPECTION TEAM TO GO ONBOARD THE VESSEL TO CONDUCT Q&Q/CIQ AND PROVIDE SELLER & SELLER’S BANK AND BUYER & BUYER’S BANK WITH THE Q & Q/CIQ REPORT.

7. CONTRACT STEP 7 – A) WITHIN 72HOURS UPON RECEIPT OF Q & Q/CIQ REPORT, BUYER MAKE/RELEASE FULL PAYMENT EARLIER MADE BY MT103 TT WIRE TRANSFER BASE ON THE RECEIVED Q & Q/CIQ REPORT AND SELLER’S PROVIDED COMMERCIAL INVOICE.

8. CONTRACT STEP 8–UPON RECEIPT AND CONFIRMATION OF BUYER’S PAYMENT BY MT103, SELLER INSTRUCT VESSEL(S) CAPTAIN TO COMMENCES DISCHARGE OF PRODUCT INTO BUYER’S TANK FARM AND RELEASES ALL ORIGINAL HARDCOPY CARGO DOCUMENTS TO THE BUYER.

Do contact me with genuine interest on:
Mobile/WhatsApp: +234 803 306 2013.
Email: Ldkelectrons@hotmail.com

 
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