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      You are in ::  Home > Crude > Read
Crude Oil Read
Sell :: 856
Buy :: 188
News :: 22
Count : 62
FOR ALL THOSE BLCO CIF CHINA BUYERS 2018-11-09
 
No seller in Nigeria will deliver the oil to China.

There are many reasons for this, but i am not going to explain these. Instead, i will outline the TTO procedure which allows the capable buyer with money to receive the oil.

TTO stands for Tanker Take Over. It means the seller delivers the tanker laden with crude oil in an open sea, Nigerian waters or Ghana waters or Cotonou waters (Benin). The buyer then recharters the tanker to go to any destination he wants.

The seller i know personally for many years can deliver on CIF (Europe), FOB or TTO.

Below is the proposed TTO procedure. It does not involve banking instruments. The discount is 10/6. The very good point about this seller from the buyer point of view is, he deals strictly through TOP25 banks, no Nigerian banks are involved in the transaction.

The procedure is open for discussion with direct buyer representative. No long chains are accepted as i am direct to seller myself.


==============================================================

1) Seller issues SPA, Buyer signs SPA and returns with ATB FORMAT, including full detailed Supercargo and Inspector informations and copy of international passport.

2). Funding partner / Buyer blocks $250,000 in their bank, in favor of the transaction logistics, according to agreed verbiage. THE BLOCKED FUNDS WILL BE FOR THE FUDICIARY SELLER—WHICH WILL BE SPECIFIED---MY COMPANY CAN DO THIS FOR THE BUYER—IF BUYER BANK CONFIRMS THAT THEY WILL PAY FOR THE CARGO—ONCE DELIVERED TO GHANA/COTONUE. BUYER MUST SPECIFY HIS SGS IN GHANA/COTONUE

3) Seller Bank verifies blocked funds and Seller issues NOR/ETA and moves loaded 2mmbbl Vessel to 12 NM Off Cotonou/Ghana Port with AIS ON and issues MATB. Vessel Captain must make announcement on Harbor master channel on behalf of Buyer to enable Buyer agent to clear Vessel.

4) Buyer boards his inspector and supercargo for dip test and quality test. Upon successful Q&Q Buyer release $500,000 USD for Logistics and Documents Registration and Reassignment to Buyer. Buyer re-chatters vessel for final destination.

5) Buyer issue MT103 covering the entire cargo based on the outturn quantity stated onthe Q&Q result, less $500,000 USD for logistics.

6) Buyer confirms all documents and effects final payments immediately for the entire product and all facilitators on the SPA. If seller is paying commissions, seller pays commissions within 48 hours of Buyer's final payment.


 
 Contact Information
Name   Mr Viktor Zhdanov 
Company   Member : Sibash 
Email   Log In to See Email 
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