TTO GHANA WATERS BLCO | Crude Oil (Sellers) | NCNDA.org 

TTO GHANA WATERS BLCO



Crude Oil (Sellers) Published date: May 5, 2019



*2M-6M BBLS OF BLCO/FLCO ON TTO GHANA@$12/8net.*

*SELLER GIVES 2%PB AGAINST BUYERS SBLC/BG. WE USE TOP 20 BANKS OF THE WORLD.*

*KINDLY ASK FOR OUR LOI FORMAT BEFORE BUYER CAN RECEIVE OUR SPA.*

*TRANSACTION PROCEDURE(NON-NEGOTIABLE):*

1) Buyer and Seller sign and seal the Contract including banking coordinates. The electronic signed copy by both parties is considered legally binding and enforceable and must not be changed without the written consent of the parties.

2) Buyer bank contacts the Seller’s bank via SWIFT MT799 stating its readiness, willingness and ability to issue the SBLC and requesting the Seller’s bank to issue the operative 2% PB on confirmation of the Buyer bank SBLC.

3) Seller’s bank responds via SWIFT MT799 to the Buyer bank stating its readiness, willingness and ability to issue the operative 2%PB on confirmation of the Buyer bank SBLC.

4) Buyer bank issues SWIFT MT760 an IRREVOCABLE, CONFIRMED, OPERATIVE, ASSIGNABLE STANDBY LETTER OF CREDIT (SBLC).

5) Seller’s Bank issues SWIFT MT760 an OPERATIVE 2%PB to the Buyer Bank.

6) Upon receipt and authentication of SBLC by Seller bank, Seller sends a loaded vessel to Ghana International waters 10NTM and give MATB to Buyer team for boarding and Qn Q inspection.

7. Upon release of results, Seller writes invoice and sends ship’s documents master copies to Buyer’s Bank in exchange for payment.

8. Upon confirmation of payment, Seller allows Buyer to contact the Shipping Company as well as the tanker vessel’s captain for re-charter Tanker Take Over purposes.

9) The vessel proceeds to the Buyer port of destination.



  • Country: Nigeria



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