NON - NEGOTIABLE CIF PRICE AND PROCEDURE FOR BLCO FRESH VESSEL TERMINAL LOADING
PRICE: The price for each Barrel of Bonny Light Crude Oil delivered out-turned barrels shall be Dated Brent” on the date of Bill of Lading as published by McGraw Hill market, wireless gross discount of $12.00 $7.00 Net to buyer, and $4.00 to agents to be share $2.00 to seller agents and $2.00 to buyer agents Seller Terminal /Consultant $1 (CLOSED)
DETERMINATION OF QUALITY AND QUANTITY
Quantity & Quality to be ascertained by an independent Inspector appointed by the Buyer at the Loading point His certificate of quality and quantity should be judged as the final quantity and quality of the oil delivered in to the buyer’s tanker and the payment will be issued according to it.
PAYMENT: In U.S Dollars-Irrevocable, Once Transferable SBLC/MT103/23 SWIFT transfer makes final payment immediately.
1) Clean Ocean Bill of Lading, One (1) Original and three (3) copies
2) Seller’s Commercial Invoice, One (1) Original and three (3)
3) Certificate of Origin issued by NNPC, One (1) Original and three (3) copies
4) Certificate of Authenticity issued by NNPC, One (1) original and three (3) copies
5) Certificate of ownership
6) Master’s receipt for Samples
7) Master’s receipt for Documents
8) Cargo Manifest
TRANSACTION PROCEDURE :
1. Buyer and seller execute, sign and seal the agreement and exchange copies via facsimile or electronic mail. The electronically transmitted copy signed and sealed by both parties shall be considered legally binding and enforceable. Hard-copy instruments are not necessary, but can be at the buyer or seller’s request. NOR/ATB FORMAT be forwarded to seller.
2. Buyer’s bank issues to Seller’s bank confirmable RWA/POF (APPENDIX A) Copy of RWA/POF from buyer’s to seller’s be sent to seller.
3. Upon confirmation of buyer’s RWA/POF, seller issues complete cargo documents in buyer’s name to buyer. Seller’s loaded vessel issues NOR to buyer’s harbor master/POD and sails to buyer’s nominated destination for Q&Q inspection. After Q&Q inspection, results are released to both seller and buyer and cargo is discharged in to buyer’s storage tank.
4 Upon successful conclusion of the above, seller transfers all original shipping/cargo documents to the buyer and hand-over same to the buyer/buyer’s bank as the case may be.
5 Payments based on out turned barrels are now released by MT103 (SWIFT transfer) into nominated bank accounts of the seller and all agents/facilitators respectively.
If the above non-negotiable CIF price and terms is acceptable.
Contact us for the SPA and the NEW APPROVED NEW APPROVED VERBIAGE-RWA-POF FROM NNPC.
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