BUYER PURCHASE INFORMATION: BLCO VESSELS IN CHINESE WATERS

- Discount: Net price not less than $8.

- Commission: Buyer's side 50%, Seller's side 50%.

Simple procedure:
- The seller provides the contact number of the seller's shipping company (in China) and the vessel number where BLCO is loaded.
- Buyer checks if the goods are shipped to China.
- After verification by buyer, seller will issue SPA, buyer will sign and return SPA.
- Buyer to issue DLC.

Warm Tips: To avoid wasting your valuable time, please follow the buyer's procedures. The buyer will refuse to cooperate if this procedure cannot be implemented, thanks！

Best Regards.

PROCEDURE FOR CIF QINGDAO, CHINA

1. Seller notifies the seller’s shipping company (vessel owner) contact information in China in order for buyer to check if the product is loaded and going to China.

2. Seller issues SPA while Buyer signs and returns the SPA, CIS, port of discharge agent details, ATB/NOR/ETA formats, international passport and company registration certificate. Seller also sends his company registration certificate and International passport, together with his allocation ATS for 2022

3. Within 72 hours Buyer’s prime Bank issues RWA via MT799/MT705 stating readiness to issue Documentary Letter of Credit (DLC MT700) to seller's bank

4. Seller's nominated bank responds stating willingness to receive the DLC MT700 and willingness to issue two percent performance bond upon receiving and confirming buyer's DLC MT700

5. Within 48 hours Buyer's bank shall issue a genuine and acceptable DLC via MT700 for full cargo, according to Seller’s bank approved verbiage. Seller confirms DLC and issues two percent performance bond

6. Seller loads and assigns an exclusive vessel in buyer's name and issue full cargo documents in buyer's name as the consignee of record, seller authorizes Vessel Captain to move vessel to buyer's port with periodic NOR/ETA to the Buyer and Buyer’s shipping Agent.

7. Upon vessel arrival, vessel captain make announcement to harbour in favour of buyer. Buyer’s shipping agent clears the vessel to into the port at Buyer’s expense, while the Captain Issues Authority To Board (ATB) to enable Buyer’s independent inspectors to perform Q/Q at mutually agreed location.

8. Inspector conduct dip test and quality analysis. Upon successful conclusion of Q/Q analysis, Inspector’s release report to both parties while Seller Issue Commercial Invoice to the Buyer with exact Q/Q report figures.

9. Buyer releases full payment for cargo to Seller's nominated bank within 72 hours after inspection against Q/Q Report, Commercial Invoice and Bill of Lading by MT-103 (cash wire).

10. Seller confirms payment and instruct vessel captain to discharge cargo into buyer's storage tank.

11.Seller releases title to the Buyer and pays commission to all agents.

12. Seller commences subsequent shipments on simple DIP/CI/PAY basis for 2m barrels x 12 months (quantity per month can be increased at buyer’s choice with corresponding increase in value/amount of the instrument)

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