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      You are in ::  Home > Crude > Read
Crude Oil Read
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China tank farm deal 2018-11-10
 
Good day.
Please, I need a seller who can follow this transaction procedure for BLCO China Tank Farm deal.

1. Seller issues SPA to buyer.

2. Seller and buyer signs SPA and deposit same in their respective Bank and the electronic copies are legally binding.

3. Seller issues preliminary Tank Farm Prove of the Product (POP):
- STORAGE CERTIFICATE in English/Chinese,
- STORAGE INFORMATION,
- DISCHARGE CERTIFICATE,
- TSR- TANK STORAGE RECEIPT in Chinese,
- ATS - AUTHORITY TO SELL
- TANK FARM MANAGERS DETAILS

4. Buyer upon receipt of the preliminary cargo POP shall verify documents and product with face to face meeting in tank farm location with tank farm manager.

5. After verification of documents and product with the Tank Farm Manager, buyer shall place acceptable banking instrument (MT103/23 or SBLC/MT760 or MT799) to enable seller to issue complete cargo re-assignment documents in favour of buyer including:
- DTA/Customs clearance/
- Tank Access Code for DIP TEST exercise in the Onshore Tank Farm in Qingdao China.

6.Seller confirms the banking instrument and instructs the Tank Farm Manager via NNPC to take buyers inspectors into the Tank Farm for DIP TEST exercise.

7. Buyers inspector goes into the Tank Farm for Dip Test exercise.

7. Upon DIP Test results, seller issue commercial invoice and buyer makes final payment (MT103/TT) per out turn barrels to the Seller and seller pays all intermediaries in the SPA.

8. Upon successful delivery of first 2 million barrels, seller and buyer negotiate for a one year contract using signed SPA.

I look forward to to hear from you.

Please, don't contact me if your seller cannot follow this procedure.

Please, don't call. Just mail me and I'll respond.

Thanks
 
 Contact Information
Name   Mr. Samuel Jackson 
Company   Ahiamadu Technical Services NG  
Email   Log In to See Email 
   Inquire Now 
Tel   08126754037 
Fax   08126754037 
Mobile   08178857791 
Web    
IP   105.112.40.25 

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