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      You are in ::  Home > Crude > Read
Crude Oil Read
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Count : 120
Bonny light crude oil 2021-02-09
 
*PROCEDURE FOR BLCO CIF EUROPE and save port exept China


1. Seller issue SPA, Buyer Sign & Seal the Contract and Exchange the Signed Copy by Electronic Mail. The Electronic Signed Copy By Both Parties Is Considered Legally Binding. Buyer return signed copy with International Passport, CIS, Company Certificate, POD/Harbor Agent Details and ETA/NOR Format. Seller also issues his international passport and company's registration certificate.

2 Within 48 hours of signing this contract, buyers prime Bank issues pre-advice via MT705 stating RWA to issue DLC (for 90 days) while the receiving bank responds stating RWA to receive the DLC. Then within 48 hours, the issuing bank shall issue the DLC (366 days) via MT700 for full cargo according to seller's verbiage on last page of the SPA

3. Seller loads or assigns exclusive vessels in Buyers name; issues full set of vessel and cargo documents to the Buyer in the name of Buyer as the Consignee of record and authorizes Vessel Captain to move vessel to Buyers port of discharge with periodic NOR/ETA to the Buyer and Buyers Discharge Harbor/Tank Agent.

4. At the Buyers discharge port, Buyer clears the vessel while the Captain Issues Authority To Board (ATB) to enable Buyers independent inspectors to perform Q/Q at mutually agreed location.

5. Upon successful conclusion of Q/Q analysis, Inspectors release report to both parties while Seller Issue Commercial Invoice to the Buyer with exact Q/Q report figures.

6. Buyer release payment of cargo by cash transfer against Commercial Invoice, Bill of Lading and Q/Q Report.

7. Seller confirms payment and authorizes Captain to discharge cargo into Buyers storage tank.

8. Seller pays commission to all agents involved in the transaction per the contract.


 
 Contact Information
Name   Mr. Oluwaseun Akinwa 
Company   Member : Jeantaws international limited 
Email   Log In to See Email 
 
Tel   2348068825006 
Fax   2348092927972 
Mobile   +23277231470 
Web    
IP   41.223.132.251 

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