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      You are in ::  Home > Crude > Read
Crude Oil Read
Sell :: 868
Buy :: 194
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Count : 78
10 MILLION BBL'S CHINA TANK 2018-10-18
 
10 MILLION BBL's In CHINA TANK FARM

PLEASE REVIEW!! PLEASE REVIEW!! PLEASE REVIEW!!!!

BUYER MUST SIGN "NCNDA" FIRST.!!!!!! (NO EXCEPTIONS)

AFTER "NCNDA" is signed.....

1. Seller provides signed sales and purchase agreement ("SPA") along with letter of intent (LOI) format for buyer's execution. The electronically exchanged copy of the signed and sealed SPA which shall be deposited at the bank of both parties is legal binding and enforceable.

2. Within three (3) banking days of contract submission, buyer's bank issues a MT799/MT760 READY, WILLING & ABLE (RWA) to deliver a SWIFT MT760 (ICC600) stand by letter of credit (SBLC) valued for $100,000,000 (ONE HUNDRED MILLION UNITED STATES DOLLARS) to seller's fiduciary bank.

3. Within three (3) banking days seller's fiduciary bank issues MT799 READY, WILLING & ABLE (RWA) to receive a MT760 (ICC600) Stand by letter of credit (SBLC); and issues a MT799 Payment guarantee of two percent (2%) of the "SBLC" valued for US$2,000,000 (TWO MILLION UNITED STATES DOLLARS) in favor of the buyer in the event of Seller's Non-Performance.

4. Buyer's bank issues a Swift MT760 (ICC600) stand by letter of credit (SBLC) valued for US$100,000,000 (ONE HUNDRED MILLION UNITED STATES DOLLARS) to seller's fiduciary bank.

5. On receipt of Swift Mt760 (ICC600) Stand by letter of credit (SBLC) Seller's Bank Issues a two percent (2%) Bank Guarantee of the "SBLC" valued for US$2,000,000 (TWO MILLION UNITED STATES DOLLARS) in favor of the buyer in the event of Seller's Non-Performance.

6. On Authentication of the buyer's "SBLC" within Five (5) banking days NNPC/SUPPLIER nominates 2,000,000 barrels in storage tanks, at RHIZAO PORT CHINA; with issuance of documents from (A) to (H) Above, in consignee or buyer's name.

7. Buyer provides Buyer's Inspection Agency; Buyer's Storage Tank Throughout Agreement and lease invoice.

8. On confirmation NNPC/SELLER issues a Dip Test Authorization (DTA); Cargo documents to be re-issued to Buyer's Name; Warranty of Title issued to Buyer's Name.

9. Buyer's appointed independent inspection agency with "DTA" at storage tanks; conducts a Quality inspection survey; and takes sample for a laboratory quality analysis, on completion inspector issues an interim report.

10.Buyer's bank issues via Swift Wire Transfer MT103 for FINAL PAYMENT of cargo based on Q&Q report within 72 hours, seller issues to Buyer/Buyer's bank a commercial invoice based on "Q&Q" report on Out-Turn Quality basis; Shipping documents issued to buyer/buyer's bank as instructed and applicable.

11. CASH PAYMENT shall be effected to the Seller's Bank by MT103 electronic wire transfer by buyer's bank, within seventy-two (72) hours of completion of Quantity and Quality inspection survey. Upon presentation against "Q&Q" report on out-turn barrels; commercial; and shipping and ownership documents endorsed or issued to Buyer or Buyer's Bank as specified. SELLER PAY ALL COMMISSION ACCORDING TO THE ACCOUNT COORDINATES IN SPA CONTRACT IMFPA.


ONLY CONTACT ME IF BUYER CAN ABIDE BY THESE PROCEDURES.

 
 Contact Information
Name   Mr. Johnston Watson 
Company   Member : Elite Group Management Corporation 
Email   Log In to See Email 
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Tel   3133591757 
Fax   3133594751 
Mobile   2485954847 
Web    
IP   99.137.14.41 

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