Crude Oil (Sellers) Published date: November 23, 2017
Modified date: November 28, 2017

BUYER NEEDED FOR THIS TRANSACTION. IF INTERESTED DO CONTACT US.

NOMINATIONS, SHIPMENT & PROCEDURES FOR DIP AND PAY (GHANA)

1. SELLER AND BUYER SIGN SPA. BUYER RETURNS THE SIGNED SPA, HIS SC, ATB, NOR FORMAT AND SUPERCARGO PASSPORT ID IN LESS THAN 24 HOURS FROM THE TIME SPA IS ISSUED. (NNPC AUTHORIZED SUPERCARGO LIST/SHEET WILL BE PROVIDED TO BUYER AFTER ALONG WITH THE SPA.) 

2. BUYER BANK SWIFT THE ACCEPTED VERBIAGE OF THE UNDERTAKEN TO SELLER'S BANK WITHN 48 HOURS. 

3. SELLER MOVES THE VESSEL TO GHANA AND ISSUES M.ATB THROUGH THE CAPTAIN TO BUYER'S SUPERCARGO AND INSPECTION TEAM TO COME ON BOARD THE VESSEL IN GHANA, 10-12 NAUTICAL MILES GHANA WATER FOR BUYER TO CONDUCT QQ. 

*3b. Within 12-24 hours UPON BOARDING AND CONFIRMATION OF CARGO BY SUPERCARGO AND ATTESTATION BY CAPTAIN SENT TO BUYER AND HIS BANK, and Inspector taking sample, BUYER ISSUES EITHER A BLOCKED FUND OR SBLC OF $500,000 into Sellers account to cover logistics and documentation. 

4. BUYER'S INSPECTOR SUBMITS QQ REPORTS TO THE BANK OF BOTH PARTIES WITHIN 6-24 HOURS AND BUYER MAKES PAYMENT FOR LOGISTICS. SELLER SENDS COMMERCIAL INVOICE AND SOFT COPIES OF SHIPPING DOCUMENTS ISSUED BY NNPC IN BUYER'S NAME TO BUYER'S BANK. 

5. WITHIN 48 HOURS OF QQ, BUYER'S BANK MAKES PAYMENT FOR THE ENTIRE CARGO INTO SELLER'S ACCOUNT *(LESS THE COST OF LOGISTICS and Documentation ALREADY PAID)*. ALL AGENTS ARE PAID ACCORDING TO THEIR COMMISSIONS INTO THEIR RESPECTIVE ACCOUNTS AT THE SAME TIME BUYER'S BANK MAKES FINAL PAYMENT FOR THE ENTIRE CARGO. 

6. SELLER INTRODUCES BUYER TO VESSEL HANDLERS. BUYER RE-CHARTERS THE VESSEL AND TAKES OVER THE CARGO. SELLER FURNISHES BUYER WITH CPA, Q88 AND THE FOLLOWING DOCUMENTS ARE PROVIDED TO BUYER AND/OR BANK TO BANK.

i)Clean on Board Ocean Bill of Lading 
ii) Certificate of Quantity (SGS or equivalent) 
iii)Certificate of Analysis (optional) 
iv) Certificate of Origin 
v) Certificate of Quality 
vi) SellersCommercial Invoice 
vii) Vessel Ullage Report 
viii) Receipt of Samples (optional) 
ix) Cargo Manifest. 

• Company Name: Royalite
• Country: Nigeria

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