BLCO FROM NNPC $14/6 CIF DELIVERY
Modified date: January 10, 2020
BONNY LIGHT CRUDE OIL
Seller side: $2(closed)
Buyer side:$2( *opened*)
*$6 NET FOR BUYER*
ARTICLE 20. CIF PROCEDURE/SHIPMENT:
NNPC-JV CIF PROCEDURE/SHIPMENT交易流程
1) Buyer & Seller Sign & Seal this contract agreement and exchange the signed copy by both Parties is considered legally binding and enforceable
2) Seller issue Signed SPA Contract in PDF with the loaded copies shipping documents Proof of Products (POP) loaded in the name of pipelines and product marketing company (PPMC) as a subsidiary and strategic business unit of the Nigerian National Petroleum Corporation (NNPC).
3) Buyer verifies the vessel documents.
Within 72hours, Buyer's bank send pre-advise via swift MT799 to sellers bank, readiness to raise Instrument for the whole cargo via MT760, and get 2% Performance Bond, then send the swift soft copy to the seller via email.买方对于货权文件进行初步核实
Under 48 hours of the receipt of buyers pre-advise, Seller's bank replies readiness to receive Buyer's Instrument via MT760, give 2% Performance Bond, and send the swift soft copy to the buyer.
Under 48 hours of the receipt of sellers swift reply, Buyer's bank raise Instrument covering the whole cargo of 2,000,000 Barrels of Bonny Light Crude Oil via MT760 and send the swift soft copy to the seller, and seller gives 2% Performance Bond.
4) Within 48hours upon receipt of Buyer’s MT760 instrument swift copy, the products 2,000,000 Barrels Bonny Light Crude Oil will be officially Re-assigned to Buyer as the consignee of the products by the officers in Marine and Shipping Department of the Nigerian National Petroleum Corporation (NNPC) Bonny Terminal for buyer to access cargo on board the vessel and possess authority to discharge the cargo.
5) Within 48hours of completion of Re-assignment 2,000,000 Barrels Bonny Light Crude Oil in Buyers name.
Buyer Receives the complete full set of shipping documents (proof of products) as the consignee before payment of the cargo including:
A) 1 Original and 3 Copies non-negotiable Copies of Bill of Lading.
B) 1 Original and 3 Copies of Certificate of Quantity.
C) 1 Original and 3 Copies of Certificate of Quality.
D) 1 Original and 3 Copies of Certificate of Origin.
E) 1 Original and 3 Copies of Masters Receipt of Samples
F) 1 Original and 3 Copies for Masters Receipt of each one-copy document
G) 1 Original Ullage Report issued at loading Terminal.
H) 1 Original and 3 Copies of cleanliness inspection Report.
I) 1 Original and 3 Copies of Customs Clearance Certificate
J) 1 Original and 3 Copies of Cargo Manifest
K) Sellers issue authorization letter to buyer for CIQ inspection / Dip Test.
L) 1 Original and 3 Copies of Commercial Invoice.
A. 海运提单 B. 数量证明 C. 质量证明 D. 原产地证明 E. 船长样品收据 F. 船长文件收据 G. 装货港报告 H. 检疫报告 I. 海关清关证明 J. 载货明细 K. 授权买方进行商检单 L. 商业发票
6) Buyer takes over the products 2,000,000 Barrels Bonny Light crude oil, with complete set of the cargo documents from Nigerian National Petroleum Corporation in conjunction with the Storage Tank Farm Facility.
7) Payment for the full products will be made through sellers commercial invoice by Swift MT103/23 or MT103/TT to Bank Account of the Nigerian National Petroleum Corporation within Five (5) banking days after buyer pick up the product, Q&Q inspection verified by buyers inspectors agent at the Port in Rotterdam, China against presentation of the full set of the original shipping documents with the title document to the buyer. Commission will be paid as per separate IMFPA.
- Company Name: OLAGROUP SARL
- Country: BENIN
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