Crude Oil (Sellers) Published date: September 15, 2017
Modified date: September 15, 2017

BONNY LIGHT CRUDE OIL

SERIOUS BUYER PLEASE CONTACT SABIG OIL AND GAS

This is a TTO CONTRACT, with room for rolls and extensions subject to negotiations.
TTO TRANSACTION PROCEDURE IN CHINA:
ONSHORE/OFFSHORE TANK FARM PROCEDURE:

1 SELLER ISSUES SALE & PURCHASE AGREEMENT.THE BUYER EXECUTES AND RETURNS SIGNED.
2 SELLER'S BANK PROVIDES, OFF SHORE STORAGE, DISCHARGE CERTIFICATE, TANK RECEIPT DIRECTLY TO BUYER'S BANK.
3. AFTER VERIFY THE POP DOCUMENTS AND PRODUCTS AVAILABILITY, BUYER PLACES INSTRUMENT MT 103/72 TO NNPC FUDICIARY NOMINATED ACCOUNT.
4. AFTER SELLER'S BANK RECEIVES THE SWIFT, SELLER DISCHARGES PRODUCT INTO BUYERS STORAGE OR POD, ISSUES DTA FOR BUYER TO BRING IN CIQ TO CONDUCT Q&Q. WARRANY OF TITLE AND CARGO REASSIGNMENT TO THE BUYER NAME.
5. BUYER IMMEDIATELY PERFORM Q&Q ON THE PRODUCT IN THE DESIGNATED TANK BY SGS,CIQ OR AN EQUIVALENT INSPECTATION AGENT.CONDUCTING Q&Q AND REPORTING DELIVERY SHALL TAKE 3 BUSINESS DAYS, (72 HOURS).
6. BUYER SENDS THE COPY OF THE Q&Q TO THE BUYER’S BANK AND TO THE SELLER AND SELLER SENDS THE COPY TO THE SELLER’S NOMINATED BANK.
7. BUYER MAKES THE Full PAYMENT FOR CARGO AND PAYS ALL, THE COMMISSION TO ALL FACILITATORS.
**The following is the list of documents to be issued by seller to buyer:
a) Original and 3 Copies of Commercial Invoice.
b) Full Set of 3 Original and non-negotiable Copies of Bill of Lading.
c) 1 Original and 3 Copies of Certificate of Quantity.
d) 1 Original and 3 Copies of Certificate of Quality.
e) 1 Original and 3 Copies of Certificate of Origin.
f) 1 Original and 3 Copies of Master’s Receipt of Samples
g) 1 Original and 3 Copies for Master’s Receipt of each one-copy document
h) 1 Original Ullage Report issued at loading Terminal.
i) 1 Original and 3 Copies of Cleanliness Report at loading Port.
j) 1 Original and 3 Copies of Customs clearance certificate
k) Charter Party Agreement (CPA)
l) Original and 3 Copies Certificate of Ownership & Warranty of Title
m) Authority to sell cargo on board

• Company Name: SABIG OIL AND GAS
• Country: Nigeria

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