Crude Oil (Sellers) Published date: June 25, 2018

PROCEDURE FOR CHINA CIF 1
1.SELLER AND BUYER SIGN SPA
2. BUYER ISSUES BANK ASSURANCE LETTER TO THE VALUE OF N5M OR EQUIVALENT IN USD FOR ISSUANCE OF NOR/ETA AND ATS/PARTIAL POP IN SELLER AND BUYERS NAME.
3. UPON CONFIRMATION OF BANK ASSURANCE LETTER WHICH STATES THAT BUYER UPON RECIEPT OF NOR ETA AND ATS/PPOP OF LOADED VESSEL SAILING TO CHINA THAT THE SUM OF N5M OR IT'S EQUIVALENT IN USD WILL BE PAID TO SELLER FOR DOCS. ALSO THE LETTER WILL STATE THAT UPON ARRIVAL OF VESSEL IN CHINA AND ISSUANCE OF VESSELS NOTICE OF ARRIVAL BUYER WILL PAY THE SUM OF 250,000 USD FOR CUSTOM CLEARANCE AND CIQ.
4. SELLER) NNPC BONNY TERMINAL ISSUE NOR/ETA FROM VESSEL ON WAY TO CHINA AND ATS/POP IN SELLER AND BUYERS NAME AND BUYER THEN RELEASES THE N5M OR USD EQUIVALENT TO SELLER AS PAYMENT FOR DOCS.
5. UPON ARRIVAL OF VESSEL IN CHINA AT BUYER'S POINT OF DISCHARGE THE VESSEL ISSUES NOTICE OF ARRIVAL AND BUYER PAYS THE 250,000.00 TO SELLER FOR LOGISTICS AND SELLER CONNECTS BUYER TO NNPC CLEARING AGENT FOR THE CUSTOM CLEARANCE AND ISSUANCE OF MARINE ATB FOR CIQ TO BE CONDUCTED ON LOADED VESSEL.
6. UPON SUCCESSFUL Q AND Q, BUYER GIVES MT.103/72 FOR TOTAL CARGO MINUS LOGISTICS AND VESSEL DISCHARGES INTO BUYERS TANKFARM.
7. PAYMENT IS EFFECTED IMMEDIATELY UPON ALL DOCS GIVEN TO BUYER AND COMMISSIONS PAID TO ALL AGENTS AND FACILITATORS.
8.NEXT TRANSACTION COMNENCES.


CIF AMERICA/ EUROPE/CHINA
PROCEDURE2::
1. SELLER AND BUYER SIGN SPA AND BUYER GIVES NOR ETA AND ATB FORMAT.
2. BUYER'S BANK ISSUES RWA TO NNPC BONNY TERMINAL AND COPIES THE SELLER.
3. SELLER ISSUES ATS/ POP IN SELLER AND BUYER'S NAME WITH NOR ETA AND BUYER UPON CONFIRMATION BUYER GIVES MT.760 FOR FULL CARGO.
4. VESSEL SAILS TO EUROPE OR AMERICA/CHINA AND UPON ARRIVAL VESSEL ISSUES NOTICE OF ARRIVAL AND NNPC AGENT WITH BUYERS SHIPPING AGENT CONDUCT CUSTOM CLEARANCE TO BUYERS POINT OF DISCHARGE.
5. VESSEL ISSUES MARINE ATB AND BUYERS INSPECTION TEAM BOARD TO CONDUCT CIQ.
6. BUYER PLACES MT.103 TO SELLER'S NOMINATED ACCOUNT UPON INSPECTOR DISEMBARKING WITH SAMPLE AND PRODUCT IS DISCHARGED INTO BUYERS TANKFARM AND FINAL DOCUMENTATION HARD COPIES ISSUED IN BUYERS NAME.
7. UPON Q AND Q REPORT, SELLERS COMMERCIAL INVOICE AND HARD COPIES OF CARGO DOCS, PAYMENT IS EFFECTED TO SELLER AND ALL INTERMEDIARIES RECIEVE THEIR COMMISSIONS AS STIPULATED IN SALES AND PURCHASE AGREEMENT.
8. TRANSACTION IS CLOSED AND NEW ONE COMMENSES.

Serious Buyers or Buyer's Mandate should contact me on +2348159376119 or send me a message at godwin@sellforce.org and copy godwinwealth11@gmail.com . Thanks

• Company Name: Sellforce Nigeria Limited
• Country: Nigeria

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