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Nigeria Bonny Light (BLCO) Available: Procedure / Bonny Light Crude Oil (blco) Reply For Contract Procedure Cif/tto / PROCEDURE: TTO For Bonny Light Crude Oil (blco) (2) (3) (4)
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BLCO Available: Check Out Our Procedure by dan6019(m): 12:23pm On Oct 17, 2014 |
1. CIF CIF PROCEDURE Discount :Gross $9 and Net $5 Quantity :2 million barrels per month Delivery : CIF ASWP Commission :Seller side $2 ( closed) and buyer side $2 open 1. Seller and buyer agreed on procedures, and seller release to buyer draft SPA. Buyer signed and returned 2. Buyer through his bank pre-advise seller’s bank, via MT199 of its readiness to receive 2% PB from seller to be activated by buyer SBLC MT760 / DLC MT700 within three banking days. 3. Seller’s bank issues the 2%PB to buyer’s bank, and buyer’s bank release the SBLC. 4. Seller nominated vessel for buyer, load cargo and vessel captain send attestation confirm the loaded vessel. 5. Seller send loaded cargo documents to buyer for confirmation, upon confirmation, buyer releases POD details. 6. Captain of loaded vessel issue NOR/ETA to buyer’s POD/POI. Buyer acknowledges ETA and readiness to receive vessel. 7. Captain releases departures message and move sail to buyers POD 8. Vessel arrive buyers POD. Captain announces arrival and issue ATB to buyer inspectors to come on board for Q&Q test. 9. After Q&Q test, inspection company releases report to both buyer and seller 10. Seller issue invoice for payment on total cargo and facilitators. Buyer makes payment and cargo discharges to buyer’s POD. 2. TTO Procedure: Seller and buyer sign and seal this Sale/Purchase Agreement with their full banking details including their brokers banking details. After which both parties forward a copy of the signed & sealed SPA contract agreement to their respective banks. Sellers Bank issues an Advance Payment guaranty of $1,000,000 unbehalf of seller to Buyer. Buyer’s bank Pays an advance of $1,000,000 in favor of seller to seller’s bank Seller sails loaded vessel to 15 nautical miles in Cottonu/Ghana waters. Seller issue clearance to buyer, and take his inspector, on board reloaded vessel in Ghana water, to pick sample while the super cargo remain on board. Upon confirmation of product, Quantity and Quality Test Analysis, APG is terminated and funds accessible to seller. Under 72 hours, Buyer issues MT 103 for the full value of the entire cargo according to Q&Q report; also for the Intermediary Accounts as stated in the contract. Payment is done by Electronic Transfer for full face value of the cargo. All relevant documents shall be handed over to buyer. Buyer to re-charter the Loaded vessel from the vessel handler/owner Buyer moves the cargo to his destination. Discount: $12/8 or N80/Litre - Ghana/Cotonou/Nigerian Waters 3. FOB: FOB PROCEDURE Discount :Gross $11 and Net $8 Quantity :2 million barrels per month Delivery : FOB Commission :Seller side $1.50 ( closed) and buyer side $1.50 open 1. Seller and buyer agreed on procedures, and seller release to buyer draft SPA. Buyer signed and returned with vessel details 2. Seller submit vessel for loading verification and approval, upon approval. The loading terminal through the superintendent writes to buyer READY, WILLING AND ABLE letter to the buyer to programme 3. Buyer issue a block fund via MT799 to seller nominated account 4. Seller confirms buyer’s block fund programme vessel for loading. Releases LAYCAN to buyer for confirmation 5. After confirmation buyer vessel NOR/ETA to terminal, upon acknowledgement by terminal. 6. Vessel comes in for loading as Schedule. 7. After loading captain releases attestation and issue ATB to buyer inspectors for Q&Q analysis 8. After Q&Q test, inspection company releases report to both buyer and seller 9. Seller issue invoice for payment on total cargo and facilitators. Buyer makes payment and vessel depart to buyer’s POD. CONTACT: Daniel: +234 803 325 9595; +234 813 70701076; cxploitsltd@yahoo.com |
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