BLCO for Refinery Buyers and Mandates | Crude Oil (Sellers) | NCNDA.org 

BLCO for Refinery Buyers and Mandates



Crude Oil (Sellers) Published date: January 8, 2018



We are pleased to offer BLCO to refineries and sellers to refineries.

We are focused on brokering of reliable supply of BLCO and REBCO where we maintain good relationships with Sellers that really deliver.

This offer is for BLCO.

BLCO (Bonny Light Crude Oil)

Origin: Nigeria

Packaging: In bulk

Quantity: Trial Shipment of 2,000,000 Barrels then Contract for 2,000,000 to 4,000,000 bbls per month x 12 months with option of 36 months, rolling over annually.

Shipment: CIF ASWP - accessible by ship with 2,000,000 Barrel payload.
Price CIF: BRENT SPOT / Platt per Barrel in USD Dollars of the 3 days average price less USD $10.00 per barrel Gross / USD $6.00 per barrel Net to Buyer

Commission: USD $4.00 per Barrel - paid by SELLER –- shared as follows; Sell Side USD $2.00 per Bbl (CLOSED), Buy Side USD $2.00 per Bbl as per completed NCNDA/IMFPA.(OPEN).

Payment: By MT103 wire from a Prime World Bank payable 100% at sight CIQ or SGS Q&Q Report against Shipping Documents at Unloading Port based on out-turn barrels received by buyer.

Inspection: By Saybolt or Societe Generale Surveillance (SGS) Export Inspection Certificate on quantity, quality and weight at discharge port.

Insurance: The Seller, at his own expense, shall procure a policy with a first class Marine Insurance Institute to cover the 110 % (one hundred and ten percent) of the value of the cargo. The customary standard insurance policy will cover all risks of loss or damages to said cargo, including war, hijacking, explosion etc. from the time cargo has passed into the ship's manifold flanges at the discharge port.

PROCEDURES:

1. Seller issues Soft Offer

2. Buyer issues ICPO with wording that mirrors the Soft Offer, with Company profile and full banking coordinates and passed to Seller Side for completion to provide information for the SPA.

3. At the same time the separate NCND/IMFPA will be fully completed by Buyer, Buy Side Facilitators and also Sell Side parties. It is signed by All Facilitators and is considered legally binding.

4. Seller then issues Draft SPA (Sales Purchase Agreement) to Buyer, which now contains the fully completed and signed IMFPA with all details and payment instructions.

5. Buyer accepts/sign’s (S.P.A), and Buyer issues Proof of Financial Capability. Buyer’s bank SWIFT a Non- operative STANDBY LETTER OF CREDIT (SBLC) Bank Instrument via MT760 (blocked Fund) in strict accordance to the seller’s verbiage for the total value of the full one month cargo into the nominated seller’s Bank Account, which will be activated by Seller’s Performance Bond. Upon receipt of SBLC within 3 days (72hrs), Seller’s Fiduciary Nominated Bank places a 2% Performance Bond which automatically activates Buyer’s STANDBY LETTER OF CREDIT SBLC.

6. Seller nominate, laycan’s, loads and moves vessel to buyers discharge Port and avails Buyer full set of loading documents.

7. Seller authorizes Vessel Captain to give Notice of Readiness (N.O.R/ETA) to buyers discharge Harbor/Tank.

8. Seller issues Authority to Board (ATB) to enable Buyer’s independent inspector’s board for Quality and Quantity (Q&Q) analysis at agreed designated location

9. On successful conclusion of Q&Q analysis, buyer issues MT103/23.

10. All Original Cargo Documents and warranty of title shall be transferred to Buyer.

11.Transshipment to Buyer's Storage Tank commences.

12. Payment for Product and commissions is released to Seller's nominated bank by the Buyer; 72 hours after transshipment of product by MT-103 (swift transfer) at out turn barrels upon presentation of the transaction documents at Buyer’s Bank and at the same time payment of commission will be made by the Seller to commission recipients as per the completed IMFPA within the SPA document.

13. All other instructions for Monthly shipments will be outlined the Seller’s SPA.

We trust you will find this offer acceptable and look forward to your prompt response to secure the offer.



  • Company Name: ADWENPA CONSULT
  • Country: GHANA



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