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BONNY LIGHT CRUDE OIL

  • Nigeria Nigeria  
  • Quantity Required: 12 Barrel
  • Annual Purchase Volume: 36000000 Barrel
  • Last Updated:
    Posted on: 06 Aug 2020

  • Time Left: 5M 2D
  • Buying Frequency: Quarterly
  • FOB Unit Price (USD): 12 Barrel
  • Payment Terms: T/T
  • Shipping Terms: TTO
  • Destination Port: EUROPE

RFQ Details

TTO PROCEDURE(COTONOU WATERS)

1.Buyer and seller sign and seal spa with full bank information. The electronic signed copy is considered legally binding on both parties and enforceable in any court of law that has jurisdiction.

2. Buyer returns the signed contract with the following:
ATB FORMAT
SCANNED DATA PAGES OF THE INTERNATIONAL PASSPORTS OF HIS INSPECTOR AND SUPER CARGO(SUPER CARGO MUST BE NNPC ACCREDITED).
3. Seller  issues NOR/ETA to buyer, buyer acknowledges NOR and seller moves vessel to 10-12 nautical miles on cotonou waters.

4. on arrival at 10 �" 12 nautical miles cotonou waters, vessel captain makes announcement on buyers name to harbor master and anchors cargo on 10-12 nautical miles.
5.seller issues marine authority to board/clearance to buyer inspection team to board the loaded cargo for confirmation.
6. on board, Inspector takes sample and disembark while super cargo remain on board the loaded vessel.
7. Upon successful q & q analysis ,Capt issues ATTESTATION to buyer and seller's bank. Buyer PAY ONE MILLION USD (USD1,000,000.00) CASH OR transfers by SWIFT the same amount into the Sellerâs account for Documentation, Clearance and other logistics

8. After successful Q&Q analysis,the result is given to both the seller and Buyer. Buyerâs Bank then issues MT103 which crystallizes within 48 Hours (Two Banking days). Payment is immediately made by SWIFT via MT103 into the Sellerâs account and all intermediariesâ accounts in this SPA.
9. After confirmation of payment, Seller releases all loading documents in Buyerâ name to Buyer and hands the Buyer over to the Vessel Handler for a smooth take- over of the Vessel.

10. Vessel sails to Buyerâs Port of discharge.

NB: ANY ALTERATION TO THIS PROCEDURE RENDERS IT NULL AND VOID. PLEASE ONLY REELIABLE MANDATE/SELLER YOU CAN WORK WITH THIS PROCEDURE SHOULD CONTACT ME ON THIS LINE-+2348162591675 & +2347034421280.