Crude Oil (Sellers) Published date: July 27, 2020

HERE ARE OUR 4 BUYER FRIENDLY BLCO TTO & CIF PROCEDURES For The MONTH of APRIL 2020:

#1 TTO PROCEDURE: (SELLER MOVES FIRST) Seller bank send Pre-Advice to Buyer bank to issue 2%PB of Buyer BG/SBLC/ITRDLC for $500,000 (Bank-To-Bank communication before Pre-Advice)
NOTE: HERE IS THE Bank-To-Bank communication Buyer Sends to Seller Bank before Pre-Advice:

BUYER BANK OFFICER SEND CONFIRMATION EMAIL TO SELLER BANK OFFICER TO “CONFIRM THEIR KNOWLEDGE OF THE TRANSACTION AND ALSO READINESS TO RECEIVE SELLER PRE-ADVICE TO ISSUE 2%PB UPON RECEIPT OF BUYER SBLC.”

#2 TTO PROCEDURE: (SELLER MOVES FIRST) Seller bank SWIFT Performance Guarantee for N50,000,000 (Naira Fifty Million) in favor of Buyer to Buyer bank to issue BG/SBLC/ITRDLC for $500,000 (Five Hundred Thousand Dollars)

#3 TTO PROCEDURE: Seller will deliver a Loaded Vessel on a Buyer ESCROW TEAR SHEET for $500,000/USD to Ghana water.

#4 CIF PROCEDURE: (SELLER MOVES FIRST) Seller bank send Pre-Advice to Buyer bank to issue 1%PB of Buyer SBLC for $1,000,000 (Bank-To-Bank communication before Pre-Advice)
NOTE: HERE IS THE Bank-To-Bank communication Buyer Sends to Seller Bank before Pre-Advice:

BUYER BANK OFFICER SEND CONFIRMATION EMAIL TO SELLER BANK OFFICER TO “CONFIRM THEIR KNOWLEDGE OF THE TRANSACTION AND ALSO READINESS TO RECEIVE SELLER PRE-ADVICE TO ISSUE 2%PB UPON RECEIPT OF BUYER SBLC.”

In Procedure #2 & #3 Buyer Has to RETURN sign SPA ALONG WITH BUYER CIS, Business Corporate Certificate and data page of the International Passport. (BECAUSE SELLER IS TAKING THE RISK OF PUTTING UP AND INSTRUMENT UP FRONT ON A SIGN SPA BEFORE BUYER SHOW ANY FINANCIAL COMMITMENT / THESE DOCUMENTS ARE NON-NEGOTIABLE WHEN SENDING IN SPA FOR PROCEDURE #2 & #3)

NOTE:
Due to the in-stability of the market NNPC is now selling at a PREVAILING PRICE of $25/bbl. Our TTO will be minus $12 OFF $25/bbl, and minus $10 OFF CIF per bbl (TTO = Gross $12 / Net $8 with $4 commission / CIF = Gross $10 / Net $6 with $4 commission). 

If the market price DROPS below $25/bbl Buyer DISCOUNT will be DISCOUNTED OFF $25/bbl. If Market Price goes ABOVE $25/bbl Buyer DISCOUNT will be DISCOUNTED OFF CURRENT MARKET PRICE/bbl at Port of Delivery or Point of Q&Q/SGS/Invoice/MT103/72 (3-days Average
Contact me on Whatsapp +2348038750410

• Company Name: WINMACHEPH OIL AND GAS LTD
• Country: NIGERIA

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