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Nairaland Forum / Nairaland / General / Business / Blco Cif Working Procedure (629 Views)
SELLER NEEDED TO SUPPLY BLCO CIF TO ROTTERDAM 4MBBLS x 12 months with $10/7 / Blco Cif Working Procedure / Blco Cif With Allocation In Seller's Name (2) (3) (4)
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Blco Cif Working Procedure by rlcanon: 1:57pm On Apr 09, 2012 |
Here is our reliable BLCO seller working procedure sir 8.11. CIF BLCO BANKING PROCEDURE 8.11.1 seller provide buyer a contract (SPA), buyer signed and return with port of discharge and NOR detail 8.11.2 Via bank to bank swift buyer’s bank shall provide Seller’s Bank with Ready Willing and Able (RWA) document for the transaction. 8.11.3 Upon receipt of the Buyer’s Bank (RWA) document Seller’s bank in no more than 5 banking days from receipt of bank RWA, shall provide Buyer with a 2% Pre Advice guarentee letter of undertaking to issue 2% perfomance bond after recieving buyers SBLC OR LC OR BG. 8.11.3. The Buyer’s Bank in no more than 5 Banking days from receipt of the 2% Pre Advised PB Guarentee or Letter of Undertaking shall open the agreed either SBLC OR LC OR BG in favour of the Seller. 8.11.4. Upon the issuance of Buyer’s reinstating (SBLC OR LC OR BG) SELLER nominates vessel(s) and commences loading immediately within NNPC lifting program and provides full POP (Proof of Products) for Buyer's verificationsd 8.11.5. Deliveries commence as per contract. 8.11.6. Banking costs will be for the account of both parties. 8.11.7 Should any amendments to the (SBLC OR LC OR BG) be requested, once the same has already been issued; the party requesting the change will be responsible for the payment of the related costs Please send your reply to realcanon4wealth@yahoo.com Seller does not change its procedure. |
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