Crude Oil (Sellers) Published date: December 24, 2019

*BONNY LIGHT CRUDE OIL*

*BULK ALLOCATION FOR SALE*

PRICE: *$14/4*

*500,000,000 BARRELS PER YEAR*

3. PROCEDURES: :
1) SELLER SENDS SIGNED SPA WITH PFI NO. (AS POP) TO BUYER. (NEW NNPC MANAGEMENT WILL DO FORMALITY WITH BUYERS ONLY DURING THE OFFICIAL MEETING TO SAFEGUARD OFF OPEC POLICY
2) BUYER SIGNS & SEALS CONTRACT AND RETURNS IT WITH LOI, COMPANY PROFILE, POF, ATV, CIS AND ACCEPTANCE TO FIDUCIARY AUTHORITY AS PER CHECK LIST THROUGH: MECKO ECONOMIC VISIONS INT'L LTD. ATTN: DR CEO MEVHARE
THE ELECTRONIC SIGNED COPY BY BOTH PARTIES IS CONSIDERED LEGALLY BINDING AND ENFORCEABLE. (SECONDLY, NNPC WILL ONLY HONOR BUYERS WHO ARE READY TO BE IN NIGERIA, TO ENABLE CREATING OF MEETING APPOINTMENT)

3) BUYER SHALL SEND DETAILS OF HIS TEAM OF NOT MORE THAN TWO PERSONS TO BE INVITED INTO THE NNPC TO MEET IN THE GMD"S OFFICE
4) NNPC/SELLER CONFIRMS BUYERS DOCUMENTS AND IF SATISFACTORY, SHALL ACKNOWLEDGE SAME, REQUESTING CONVENIENT PROPOSED DAYS OF BUYER'S INVITATION FOR RATIFICATION WITH GOVERNMENT AUTHORITIES.
5) BUYER REPLIES AND A DATE IS CHOSEN FOR HIS INVITATION AS AGREED; CORPORATE INVITATION IS ISSUED(N.B. NNPC WILL ONLY CONFIRM OFFICIAL VISIT APPOINTMENT FOR BUYERS WHO ARE ALREADY ON GROUND, FOLLOWING INFORMATION PASSED TO THE FIDUCIARY ON APPROVAL OF BUYER'S DOCUMENTS)
6) BUYER'S BANK WILL THEN ISSUE ACCEPTABLE INSTRUMENT OF MT799 BLOCKED FUND AND/OR SBLC BY MT760 SWIFT TO SELLER, EXACTLY AS PER SELLERS FORMAT TO ENABLE NNPC PROVIDE LIFTING SCHEDULE AND LAYCAN FOR
LOADING
7) NNPC/ FIDUCIARY BANKS CONFIRMS BUYERS BANK INSTRUMENTS. THEN NNPC WILL PROCESS THE ORDERED QUANTITY OF ALLOCATION AND SEND SOFT COPY TO BUYERS BANK TO CONFIRM
8) BUYERS BANK PLACES MT103 PAYMENT INSTRUMENT FOR TOTAL CARGO IN FAVOUR OF NNPC/SELLER FIDUCIARY BANKS FOR COMMISSIONS AND BROKERS.
9) NNPC TRANSFERS ALLOCATION TO BUYERS NAME ACCORDING TO VOLUME OF FUNDS BLOCKED INSTRUMENT AND CONTRACTED ALLOCATION IS ISSUED TO BUYER.
10) NNPC ISSUES PROFORMA INVOICE/PAYMENT SHEDULE TO SELLER IN FAVOUR OF THE BUYER, SELLER TRANSFERS THE COPY OF THE DOCUMENTS INTO BUYERS BANK FOR CONFIRMATION.

11) UPON CONFIRMATION, BUYER PAYS 100% FOR THE QUANTITY OF BLCO PRODUCT HE INTENDS TO BUY DIRECT TO THE NNPC/SELLER INCLUDING COMMISSIONS TO ALL AGENTS & FACILITATORS AS PER THE PAYMENT SCHEDULE.
12) MONTHLY LIFTING/DELIVERY QUANTITY SCHEDULE IS OUTLINED ACCORDING TO BUYERS BOOKED CAPACITY WITH PAYMENTS BY MT103 WIRE TRANSFER ON OUT TURN QUANTITY DELIVERED AS PER CONTRACT TERMS.

• Company Name: OLAGROUP SARL
• Country: BENIN

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