Hi,I'm in direct talks with a Seller of BLCO.Kindly find attached the seller's buyer friendly procedure (please note that this is an off OPEC transaction thus no PoP or documents will be given).Off OPEC transactions aren't exposed bandied about to avoid OPEC sanctions on an erring member.The upf Show More...
Hi,I'm in direct talks with a Seller of BLCO.Kindly find attached the seller's buyer friendly procedure (please note that this is an off OPEC transaction thus no PoP or documents will be given).Off OPEC transactions aren't exposed bandied about to avoid OPEC sanctions on an erring member.The upfront cash backed PB should give any prospective buyer some level of comfort to deal. The PB can be cashed if the Seller misses a step in the mutually agreed timer the instrument has been placed.PROCEDURE:1. Seller and Buyer execute Sales & Purchase Agreement.2. Seller and Buyer exchange verbiage of Standby () and Performance Bond (PB).3. Buyer’s Bank sends a Pre-Advice via Swift to Seller’s Bank.4. Upon confirmation of the Pre-Advice, Seller’s Bank issues to Buyer 2% of the total Cargo value as Performance Bond (PB cash backed).5. Upon confirmation of the Performance Bond, Buyer issues Standby () in favour of Seller for the total Cargo value.6. Seller charters vessel, loads the vessel and sets sail for Port of Discharge.7. Upon arrival in Port of Discharge, and discharge, (Port Clearance is at buyers expense).Q&Q test is conducted by Buyer’s nominated Inspection company.8. After Q&Q Report, Buyer effects payment by MT103 TTT within Forty Eight (48) hours of presentation of final Commercial Invoice and all salient cargo documents at sight.9. Upon confirmation of payment, Seller hands over all relevant Documents to the Buyer.Gross $8 to buyer (net $6 to buyer and $2 to buyer's agents)Please note that the trial shipment is for 6mblls.Cheers.Jerry
Signup today to claim your Discount. Get Started before it's too late!
