Product Description
Available in 2 simple terms and
conditions:
A. NNPC FOB
PROCEDURE
DISCOUNT- $9 GROSS; $6 NET TO BUYER; $3 TO BROKERS;
DIVIDED EQUALLY BETWEEN BOTH SIDES.
I. Buyer and
Seller sign and seal this Contract including banking coordinates
and exchange the signed copy by electronic
mail. The electronic signed copy by both Parties is
considered legally binding and enforceable.
II. Buyer sends Proof of Funds (POF), sent via SWIFT
MT**9 to sellers bankers and also forwards valid CPA & Q*8 of
the vessel to be loaded to the seller.
III Seller, upon receipt of POF from Buyers bank; CPA
& Q*8 of buyers vessel, confirms the vessel through the
vessel owners and Lloyds offices in London
and within (3) banking days issues PROVINSIONAL
LIFTING RIGHT, Stem and Window/ETA (Estimated Time Of Arrival)
for buyers vessel to arrive the terminal for loading.
IV. Buyer upon receipt and confirmation of Para 3
within three (3) banking days, issues confirmed, irrevocable,
transferable and operativeLetter of Credit(
SBLC OR FFDLC) for two million barrels in
favour of Seller, with validity to cover *5 banking days. The LC
must come from top US/European Bank. (SEE LC FORMAT
BELOW)
V. Seller, upon confirmation of the Operative letter of
Credit, issues a Notice of Readiness (NOR)/ calls buyers vessel
into the terminal, and loads the vessel with product. Inspectors
carry out quality and quantity inspection before and after the
loading, and endorsed by the vessel master.
VI. Buyer pays for the crude oil and pays all commissions
as stipulated on the MFPA on this contract agreement.
a- Payments
are made by swift wire transfer directly to the seller official
bank account through seller’s bank account within 2 (two) days
after successful loading of the vessel with product, inspection
report and presentation of the following shipping documents
(not negotiable copies).
*1
Clean – on – board ocean Bills of Lading
*2
Certificate of quantity (SGS or equivalent)
*3
Certificate of Analysis
*4
Certificate of Origin
*5
Certificate of Quantities
*6
Seller’s commercial invoice
*7
Vessel ullage report
*8
Receipt of samples
*9
Cargo Manifest
VII. After loading product into Buyers
vessel and buyer has recieved the Port loading Q & Q report
from SGS inspectors, including all relevant documents (not
negotiable copies) presented by seller after time of cargo
delivery as required by the LC, buyer must make payment by SWIFT
wire transfer to sellers bank account for this transaction and to
beneficiaries named in the Master Fee Protection Agreement in the
contract for fees.
VIII. The signatures on this contract by the Buyer and by
Seller means both accept all the content as for Quantity,
Discount
IX. A letter of intent to purchase (LOI) is required
to commence this procedure. The addresee for the Letter of Intent
(LOI) will be supplied upon request.
B. CIF
PROCEDURE
DISCOUNT- $6 GROSS; $4 NET TO BUYER; $2 TO BROKERS-shared
equally between buyer and seller sides ($1.*0 each)
I. Buyer and
Seller sign and seal this Contract including banking coordinates
and exchange the signed copy by electronic
mail. The electronic signed copy by both Parties is
considered legally binding and enforceable.
II. Buyer returns the signed contract with PROOF OF
FUNDS (POF). The format for the POF is shown below transmitted by
swift MT***9.
III Seller, upon receipt of POF from Buyers bank, within
(3) banking days issues PROVINSIONAL LIFTING RIGHT. The Lifting
Right will include the Quantity to be lifted, the cargo Authority
Number, Stem number, Window Number (ETA), Name of Nominated
Vessel, IMO no. of Nominated vessel for one way voyage charter to
Buyers port of destination
IV. Buyer upon receipt and confirmation of Para III
within three (3) banking days, issues confirmed, irrevocable,
Non-transferable and Operative Stand byLetter
of Credit or Fully Funded DLC for two million
barrels, in favour of Seller and validity to cover *5 – *5
banking days. The LC must come from top US/European Bank. (SEE LC
FORMAT BELOW)
V. Within seven (7) banking days of III above, Seller
furnishes CPA & Q*8 and the following documents to Buyer
and/or Buyer’s bank:
*1
Clean – on – board ocean Bills of Lading
*2
Certificate of quantity (SGS or equivalent)
*3
Certificate of Analysis (optional)
*4
Certificate of Origin
*5
Certificate of Quantities
*6
Seller’s commercial invoice
*7
Vessel ullage report {optional}
*8
Receipt of samples (optional)
*9
Cargo Manifest
VI. After the vessel has discharged its cargo at Buyer’s
designated port outlined above and Buyer has received the
Discharge Report as shall be confirmed by the captain of the
vessel, including all relevant documents presented by the Seller
after the time of cargo delivery as required by the
LC, Buyer must make payment by SWIFTWire
Transfer to Seller’s Bank Account payable at it’s
counter for this transaction and to beneficiaries named in Master
Fee Protection Agreement in the contract for fees.
VII. Payments are made by Swift Wire Transfer
directly to the Seller’s bank accounts and commission agents as
stipulated in the MFPA in this contract within three
(3)international banking days
after product delivery and discharge at Buyer’s nominated port of
discharge against presentation of stated shipping documents
(non-negotiable copies) at Buyer’s bank.
VIII. The signatures on this contract by the Buyer and by
Seller means both accept all the content as for Quantity,
Discount and Procedures.
| Country: |
USA |
| Model No: |
Oil
|
| FOB Price: |
(Negotiable)
Get Latest Price
|
| Place of Origin: |
Nigeria |
| Price for Minimum Order: |
- |
| Minimum Order Quantity: |
1000000 Acre |
| Packaging Detail: |
Seller handles trans-ocean logistics as part of the agreement. |
| Delivery Time: |
1 - 2 weeks depending on location in the USA. |
| Supplying Ability: |
2000000 Acre per Day |
| Payment Type: |
T/T, D/P |
| Product Group : |
- |
