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      You are in ::  Home > Crude > Read
Crude Oil Read
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Count : 261
We have BLCO Seller directly from NNPC for genuine Buyers / Refineries 2020-06-23
 
Price shall be at a discount of $9.00 gross below the current BRENT PLATT PRICE. $6.00 net to the buyer, Commission: $3.00 ($1.50 to Buyer's Mandate/Agent, $1.50 to Seller's Mandate/Agent.

CONTRACT PURCHASE QUANTITY: Min 1, 000,000 barrels.

Contract Duration: 12 months.


SELLER PROCEDURE:
1. Seller releases his signed SPA upon receipt of Buyers LOI.

2. Buyer signs and seals the Contract with banking Coordinates, the inspection agents scanned passport, the Discharge port details, ATB and ETA format via Buyer's freight forwarder, provides and exchanges the signed copy by electronic mail. The electronic and signed copy by both Parties is considered legally binding and enforceable and must not be changed. The CIS, certificate of incorporation and data page of the international passport of the sblc ordering customer ( either the buyer or his financial) for due diligence on the authenticity of the sblc

3 . The executed SPA is lodged with their respective banks.

4. Within 3 to 5 banking days, buyers bank officer writes and sends BCL/RWA via MT 799 pre advice to seller's fiduciary bank, indicating willingness to issue SBLC.(A copy of RWA will be sent to seller and seller's mandate by e-mail for follow up with their bankers). The SBLC issuing bank must be one of the 1 - 25 world prime banks.

5. Within 3 to 5 banking days, Sellers fiduciary bank officer responds via MT 799 pre advice indicating readiness to receive the Buyers SBLC and upon confirmation give 2% pb.. (A copy of RWA will be sent to buyer by e-mail for follow up with his bankers).

6. Buyers bank, by Swift, issues UNCONDITIONAL, IRREVOCABLE, TRANSFERABLE, ASSIGNABLE AND DIVISIBLE STANDBY LETTER OF CREDIT VIA MT 760 valid for one year and one month covering first shipment of one million barrels or more as per approved verbiage to the sellers fiduciary bank. (Acknowledgement copy to be sent to the seller and seller's by e-mail for follow up with their bankers).

7. Seller's fiduciary bank confirm SBLC, within 5 banking days give 2% PB and within 14 banking days of Seller's confirmation of buyer's SBLC, seller nominates, programs, loads vessel(s) and issues soft copy of the full POP of the loaded cargo to the Buyer and his bank via email. Original documents would be given to buyer and his bank upon receipt of final payment via MT103.

8. Seller upon completion of loading authorizes vessel Captain to issue NOR/ETA to the Buyer as per approved format. At the port of discharge, Buyer's freight forwarder clears in the vessel to Q&Q position and Seller issues MATB/DTA to Buyers Inspectors to board and conduct Q&Q in a timely manner. Q&Q/CIQ analysis/inspection at Buyers expense (The Buyer's Freight Forwarder provides details of the Discharge port tank farm). A copy of the Q&Q result is sent to Buyer, Seller and their bankers.

9. Immediately after successful Q&Q analysis, seller issues COMMERCIAL INVOICE to buyer and his bank. Buyer bank makes full Payment via Swift MT103 Wire Transfer for total cargo to Sellers nominated bank account within 72 hours. Seller shall pay all commissions to agents and facilitators the same day he receives payment from Buyer AS PER SEPARATE IMFPA/NCNDA

10. Then, the Seller discharges product to Buyer's nominated storage and transfers all the original documents to the buyer and his bank.

11. Next shipment is effected through same Procedure sblc.

(BUYER TO INFORM THE SELLER OF THE FINAL PORT OF DISCHARGE TO HELP IN THE VESSEL NOMINATION - VERY IMPORTANT).

Buyers/Refineries and Mandate contact us: aig-ltd@pm.me

 
 Contact Information
Name   Mr. A Progress 
Company   Member : AIG LTD 
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Web   https://www.aig-limited.com 
IP   143.176.12.171 

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