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      You are in ::  Home > Crude > Read
Crude Oil Read
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Count : 194
WTI & BLCO AVAILABLE FOR SALE. 2020-05-10
 
WTI CRUDE OIL PROCEDURE
1. BUYER ISSUES LOI TO THE SELLER ALONG WITH ITS COMPANYS CIS OF HIS COMPANY INCLUDING DIRECTORS PASSPORT PAGE AND COMPANY REGISTRATION CERTIFICATE.

2. SELLER SENDS SIGNED CONTRACT TO THE BUYER WITH ITS BANK DETAILS INCLUDING HER NOMINATED FIDUCIARY BANK TO RECEIVE THE PAYMENT INSTRUMENT. BUYER READ CAREFULLY, ACCEPT, SIGNS AND RETURN SIGNED COPIES TO SELLER

NOTE: THAT THE SIGNED CAN ONLY BE SENT FROM BUYER BANK TO SELLER BANG.

3. BUYER TO ISSUE A PAYMENT INSTRUMENT (MT 799) COVERING THE ENTIRE LOAD BUYER IS BUYING.

4. UPON CONFIRMATION OF THE ISSUED INSTRUMENT, SELLER TO THROUGH HIS BANK SENDS DOCUMENTS FOR THE TRANSACTION AND WILL BE SENT FROM SELLER BANK TO THE BUYER BANK.

5. BUYER IS HEREBY REQUESTED TO BRING HIS VESSEL FOR LOADING.

6. UPON ATTESTATION AND SUCCESSFUL Q &Q ON THE PRODUCT THE INSTRUMENT BECOMES CASH.

WE HAVE TWO LOADING LOCATIONS IN TEXAS,
IF YOU BUYING 1 MILLION BARREL MONTHLY THE LOADING WILL BE DONE IN HOUSTON.
IF 2 MILLION BARREL MONTHLY THE LOADING WILL BE DONE IN CORPUS CHRISTY.
WE CAN ALSO SUPPLY TO TANK IN HOUSTON AREA AT SAME PRICE AND PROCEDURE.

PRICE; 2 DOLLARS ABOVE AMEX WTI PRICE.



CIF PROCEDURE FOR BLCO
1. Seller sends signed Contract to the buyer with its bank details including her nominated fiduciary bank to receive the payment instrument. Buyer read carefully, accept, signs and return signed copies to Seller, Buyer shall send CIS of his company including directors passport page and company registration certificate.
2. Buyer send the complete CIS of his fiduciary account holder that will send the payment guarantee instrument ULC all cash backed; as well as a Letter from his bank stating that Buyer has been approved for a Usance Letter of Credit; for verification and approval by Seller (THIS IS to ensure that ACCOUNT HOLDERs bank is in agreement with Buyer and is capable TO ISSUE THE PAYMENT GUARANTEE INSTRUMENT in the form of Usance Letter of Credit).
3. Buyer send the complete CIS of his fiduciary account holder that will send the payment guarantee instrument ULC (for a total of 1,000,000 Barrel of Bonny Light Crude Oil) all cash backed; as well as a Letter from his bank stating that Buyer has been approved for a Usance Letter of Credit; for verification and approval by Seller (THIS IS to ensure that ACCOUNT HOLDERs bank is in agreement with Buyer and is capable TO ISSUE THE PAYMENT GUARANTEE INSTRUMENT in the form of Usance Letter of Credit).
4. Upon approval of the Buyers fiduciary by Seller, then the Buyer Bank SWIFT Pre-Advise via MT799 using Seller verbiage (SEE APPENDIX A) READY, WILLING AND ABLE (RWA) LETTER to the Sellers Bank (FROM A FIRST CLASS BANK IN THE WORLD) requesting confirmation regarding the sellers banks readiness and ability to receive Usance Letter of Credit in favor of seller, for the quantity and amount as part payment for the final delivery; which will be a value of 1,000,000 Barrel out 6,000,000 Barrel of Bonny Light Crude Oil delivery within 90 days only.
5. Upon receipt of the pre-advice, Sellers nominated bank respond in the same manner by swift her readiness and ability to receive the instrument on Sellers behalf. All swifted pre-advice must also be copied to Buyer and Seller respectively by email.
6. Buyers bank issues Irrevocable, unconditional, confirmable, Transferable, Usance Letter of Credit (ULC via FIN700) for a value of 1,000,000 Barrel out 6,000,000 Barrel of Bonny Light Crude Oil delivery within 90 days only as per seller's NOMINATED ACCOUNT USING ONLY SELLERS VERBIAGE (SEE APPENDIX B) and advance copy to seller for confirmations with their bank.
7. Upon full authentication of Buyer's instrument, Seller shall nominate a vessel in Buyers favor, Load the vessel send Notice Of Readiness NOR, an Estimated Time of Arrival ETA in buyers name to buyers harbor master, buyers vessel handlers as well as to the buyer himself and Buyer must acknowledge the receipt in written. All other procedure will be same as in Sales Purchase Agreement contract "B" as seen follow here below.
8. Seller DIRECT THE LOADED VESSEL to sail to Buyer port of discharge on a CIF bases as agreed by both parties. Seller prepares all the cargo documentations in Buyers name and the Nominated vessels one-way voyage charter agreement to Buyers Port of INSPECTION.
9. Seller furnishes Buyer with copies of the CPA, Q88 and issues full shipping cargo documentation from NNPC to Buyer.
THE FOLLOWING DOCUMENTATION SHALL BE PRESENTED TO THE BUYER IN ONE ORIGINAL AND THREE (3) NON-NEGOTIABLE COPIES:
A). - CLEAN ON BOARD OCEAN BILL OF LADING. THE BILL MUST EVIDENCE THE SHIPPING DATE, INTENDED DESTINATION, SHIPMENT FROM BONNY TERMINAL NIGERIA AND NAME OF PRODUCT AND MUST BE MANUALLY SIGNED BY THE MASTER OF THE VESSEL AND CONFIRMTABLE AT VESSEL HOME OFFICE.
B), - CERTIFICATE OF QUANTITY ISSUED BY INDEPENDENT INSPECTORS AT THE PORT OF LOADING ONE ORIGINAL AND THREE (3) SIGNED COPIES.
- CERTIFICATE OF QUALITY ISSUED BY THE INDEPENDENT INSPECTORS AT THE PORT OF LOADING IN ORIGINAL AND THREE (3) COPIES.
C), - CERTIFICATE OF ORIGIN ONE ORIGINAL AND THREE (3) COPIES.
D), - CERTIFICATE OF AUTHENTICITY ONE ORIGINAL AND THREE (3) COPIES.
E), - TANKER ULLAGE REPORT ONE ORIGINAL AND THREE (3) COPIES.
F), - TANKER TIME REPORT ONE ORIGINAL AND THREE (3) COPIES.
G), - CARGO MANIFEST ONE ORIGINAL AND THREE (3) COPIES.
H), - SELLERS COMMERCIAL INVOICE BASED ON OUT-TURNED BARRELS.
I), - MASTERS RECEIPT OF NON-NEGOTIABLE DOCUMENTS AND SAMPLES.
ALL NECESSARY DOCUMENTS WILL BE GIVEN TO BUYER FOR PAYMENT INCLUDES REPORT ISSUED BY INDEPENDENT INSPECTOR. BUT THE WARRANTY OF TITLE IN BUYERS NAME WILL BE GIVEN TO BUYER ONLY AFTER FULL PAYMENT IS MADE.
10. Loaded vessel captain open communication to PORT OF DISCHARGE/INSPECTION and sets sail for Buyers discharge port: and simultaneously Buyer arranges for independent inspection team and shipping Agent to clear the vessel to Anchorage to a safe place upon arrival and ANNOUNCEMENT TO HARBOUR MASTER on Buyers name.
11. Upon arrival at the Port of discharge, the loaded Vessel Captain issues MATB to Buyers Super Cargo and Inspection Company after announcement to Harbor Master and the vessel has been cleared by Buyers Shipping Agent at Buyers expenses. The Buyers independent inspection term, take sample and conduct Q n Q analysis.
12. Upon successful conclusion of Q/Q analysis, Inspectors release report to both parties while Seller Issue FINAL Commercial Invoice to the Buyer with exact Q/Q report figures released by the final Q n Q performed at Buyers port of discharge.
13. Buyer releases full payment for cargo to Seller's nominated bank as well as the commission as stated on Sale Purchase Agreement SPA signed by both parties simultaneously within 48 hours after inspection releases Q/Q Report AND FINAL Commercial Invoice and Cargo Documents released by MT-103 (cash wire).
14. Seller confirms payment & authorizes Captain to discharge cargo into Buyers storage tank. The warranty of tittle will in Buyers name will be given to Buyer.
15. After the successful shipment of the first 6 months, the Seller will automatically commence subsequent shipments in same manner for the next twelve (12) months with a roll over and extension.

Note: That the issued instrument will be used to pay for the final delivered product hence it will not be touched until the date stipulated on the Usance Letter of Credit

Price for CIF Delivery of this offer is $8 Gross and $6 Net to Buyer


 
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Name   Mr. prince oviawe 
Company   Member : ELLI WORLD 
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