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RFQ of Crude Oil Buyer and Importer from Nigeria - Buying Lead

13 Mar, 2024

RFQ of Crude Oil

Hello We need 2m barrels of BLCO . After signing SPA , Seller send PPOP ba k to bank to buyer Buyer places SBLC AND THE DEAL IS DONE !Procedure:SELLER ISSUES: Bill Of Lading, Authority To Sell, Cargo Manifest, Haulage Report, Certificate of Origin, Certificate of Quantity, Certificate of Authenticity, & Master Receipt for Samp Show More...

Hello We need 2m barrels of BLCO . After signing SPA , Seller send PPOP ba k to bank to buyer Buyer places AND THE DEAL IS DONE !Procedure:SELLER ISSUES: Bill Of Lading, Authority To Sell, Cargo Manifest, Haulage Report, Certificate of Origin, Certificate of Quantity, Certificate of Authenticity, & Master Receipt for Sample. as PROOF OF Product. VESSEL SAILS TO BUYER'S STORAGE LOCATION FOR CIQ & DISCHARGE.✅Quantity: 2-8Mbbrls.PROCEDURE FOR TTO CHINA.1. SELLER SIGNS SPA. BUYER SHALL WITHIN 24 BANKING HOURS, SIGN AND ENDORSE THE SPA WITH HIS CORPORATE SEAL. BOTH PARTIES DEPOSIT COPIES WITH THEIR RESPECTIVE BANKS.THE ELECTRONICALLY-SIGNED SPA IS CONSIDERED LEGALLY BINDING ON BOTH PARTIES.2. NNPC TERMINAL THROUGH THEIR E-MAIL DOMAIN SEND TO THE BUYER AN ENDORSED LETTER OF ACKNOWLEDGEMENT OF RECEIPT OF SIGNED SPA, AS WELL AS CONFIRMING SELLER AS THE FIDUCIARY AGENT TO THE CORPORATION AS WELL AS THE CONSIGNEE OF THE PRODUCT IN THE NAMED VESSEL.3. UPON SATISFACTORY VETTING AND VERIFICATION OF SELLER'S ATS AND NNPC LETTER OF ACKNOWLEDGEMENT,4. SELLER ISSUES POP VIA BANK TO BUYER AND BUYERS REPLIES WITH HIS INSTRUMENT FOR VERIFICATION 5. SELLER ISSUE ATB AND NOR TO BUYER AND BUYER SHALL NOMINATE CIQ AS INSPECTION AGENT TO PERFORM THE QUALITY AND QUANTITY TESTS.6. SELLER ENSURES THAT THE CARGO IS DOCUMENTED, REGISTERED AND OBTAIN CERTIFICATE OF OWNERSHIP TITLE OF WARRANTY. 7. VESSEL SAILS TO BUYER’S STORAGE LOCATION FOR DISCHARGE.8. BUYER CONDUCTS INSPECTION ON VESSEL UPON ARRIVAL AND GET CIQ REPORT.9. WITHIN 5 BANKING DAYS AFTER CIQ Q & Q REPORT SELLER PROVIDES FINAL COMMERCIAL INVOICE ON Q&Q CIQ REPORT CONDUCTED AND ISSUES THE COMPLETE CARGO AND CLASSIFIED DOCUMENTS TO THE BUYER'S BANK, IN BUYERS NAME, TO ENABLE THE BUYER PROCESS THE CASH PAYMENT FOR THE TOTAL CARGO, AFTER DISCHARGE IN THE BUYERS TANKFARM.10. BUYER PAYS VIA MT103 TO SELLER NNPC NOMINATED FIDUCIARY BANK ACCOUNT.11. NNPC CONFIRMS RECEIPT OF THE PAYMENT OF BUYER’S MT 103 AT NOMINATED BANK ACCOUNT, NNPC SHALL RELEASE THE REQUIRED QUANTITY OF BLCO TO BUYER BY ISSUANCE OF NEW “OWNERSHIP TITLE CERTIFICATE” IN BUYER’S NAME.12. UPON COMPLETION OF FIRST 2,000,000 BARRELS DELIVERY SUCCESSFULLY, BOTH PARTIES MUTUALLY AGREED TO RENEGOTIATE FOR THE NEXT TRANSACTION WHICH FOLLOWS FOR ONE YEAR CONTRACT.

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