Crude Oil (Sellers) Published date: August 3, 2019

*OFFICIAL LPFO/FLCO PRESIDENTIAL DIRECT BULK ALLOCATION ON FOB/CIF@ N40/4NET.*

*KINDLY NOTE SIR/MA, THIS PARTICULAR PRESIDENTIAL DIRECT BULK ALLOCATION HAS SOME POWERFUL GF's AND SO IT'S VERY CLOSEABLE.*

*OFFICAL INVITATION COMES WITHIN 72HRS AFTER RETURN OF COMPLETE & CORRECT DOCUMENTS.*

*SELLER IS VERY READY TO TAKE BUYER TO TOWERS FOR VERIFICATION IMMEDIATELY.*

*TRANSACTION PROCEDURE(NON-NEGOTIABLE):*

1) SELLER SEND PRE-SIGNED SPA TO BUYER.

2) BUYER SIGNS & SEALS CONTRACT WITH
BUYER’S PROFILE, MANDATE LETTER(IF ANY),COMPANY REGISTRATION CERTIFICATE,LETTER OF INTENT(LOI), PROOF OF FUNDS(POF),AUTHORITY TO VERIFY(ATV),CIS SHEET AND ACCEPTANCE TO FIDUCIARY AUTHORITY AS PER CHECK LIST Through:

ATTN:

AND EXCHANGE THE SIGNED COPY BY ELECTRONIC MAIL. THE ELECTRONIC SIGNED COPY BY BOTH PARTIES IS CONSIDERED LEGALLY BINDING AND ENFORCEABLE.

3) BUYER SHALL PROVIDE TO SELLER THE DETAILS OF TEAM *(NOT MORE THAN TWO PERSONS}* WITH THEIR PASSPORT DATA PAGE INFO TO BE INVITED TO HAVE OFFICIAL MEETING WITH THE GMD OF NNPC TO CONFIRM ALLOCATION DOCUMENTATIONS RIGHT INSIDE NNPC TOWERS.

4)SELLER ISSUES LETTER OF INVITATION TO THE BUYER/ *AUTHORIZED BUYER REPRESENTATIVES NOT MORE THAN TWO PERSONS* TO MEET WITH NNPC AT TOWERS TO CONFIRM ALLOCATION DOCUMENTS

5) NNPC/SELLER CONFIRMS BUYER’S PROFILE, POF AND OTHER DOCUMENTS AND IF SATISFACTORY, SHALL PROVIDE INSTRUCTION TO BUYER TO ISSUE ACCEPTABLE BLOCK FUNDS/INSTRUMENTS ACCORDING TO CAPACITY OF INSTRUMENT AND QUANTITY ORDERED.

6) BUYER'S BANK THEN WILL ISSUE ACCEPTABLE INSTRUMENT OF MT799 BLOCKED FUND AND/OR SBLC BY MT760 SWIFT TO SELLER, EXACTLY AS PER SELLER’S FORMAT TO ENABLE NNPC PROVIDE LIFTING SCHEDULE AND LAYCAN FOR
LOADING

7) NNPC/ FIDUCIARY BANKS CONFIRMS BUYER’S BANK INSTRUMENTS. THEN NNPC WILL PROCESS THE ORDERED QUANTITY OF ALLOCATION AND SENDS SOFT COPY TO BUYER’S BANK TO CONFIRM

8) BUYER’S BANK PLACES MT103 PAYMENT INSTRUMENT FOR TOTAL CARGO IN FAVOUR OF NNPC/SELLER FIDUCIARY BANKS FOR COMMISSIONS AND BROKERS.

9) NNPC TRANSFERS ALLOCATION TO BUYER’S NAME ACCORDING TO VOLUME OF FUNDS BLOCKED INSTRUMENT AND CONTRACTED ALLOCATION IN FAVOR OF BUYER

10) NNPC ISSUES PROFORMA INVOICE/PAYMENT SHEDULE TO SELLER IN FAVOUR OF THE BUYER, SELLER TRANSFERS THE COPY OF THE DOCUMENTS INTO BUYER’S BANK FOR CONFIRMATION.

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

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