Nigeria Bonny Light Crude BLCO

PROCEDURES BLCO CIF: DISCOUNT $9/4 BUYER AND SELLER SIGN AND SEAL THE SALES & PURCHASE AGREEMENT, CIS, CERTIFICATE OF REGISTRATION. AND RETURN. THE ELECTRONIC SIGNED COPY BY BOTH PARTIES IS CONSIDERED LEGALLY BINDING AND ENFORCEABLE AND MUST NOT BE CHANGED WITHOUT THE WRITTEN CONSENT OF THE PARTIES. 2) BUYER'S BANK GIVES RWA BY OR MT199 SWIFT TO SELLER'S BANK STATING THEIR READINESS TO GIVE MT760 / LC ON BEHALF OF BUYER VALID FOR 366DAYS TO SELLER'S BANK. {BANK MUST BE ONE OF THE TOP PRIME 50 BANKS IN THE WORLD}. 3) SELLER'S BANK RESPONDS TO OR MT199 RWA CONFIRMING THEIR READINESS TO RECEIVE BUYER'S BANK 366DAYS MT760 /LC AND ALSO STATES COMMITMENT THAT 2%PB WILL BE GIVEN TO BUYER'S BANK UPON CONFIRMATION OF BUYER'S VALID INSTRUMENT. 4) BUYER'S BANK ISSUES VALID /LC VIA MT760 SWIFT TO SELLER'S BANK. 5) SELLER'S BANK VALIDATES AND ISSUES 2%PB TO BUYER'S BANK BY SWIFT MT760 . 6) BUYER PROVIDES DESTINATION PORT /TANK FARM INFORMATION TO SELLER. SELLER INSTRUCTS HIS SHIP MASTER TO SEND NOR/ETA TO BUYER'S PORT OF DISCHARGE. 7) CAPTAIN OPEN COMMUNICATION VIA SAT COM WITH BUYER'S SHIPPING AGENT, LOADED VESSEL WILL SAIL TO BUYER'S DISCHARGE PORT. 8) SELLER AUTHORIZES VESSEL CAPTAIN TO GIVE SHIPPING AGENTS ALL RELEVANT DOCUMENTS FOR CLEARING INTO THE PORT. 9) SELLERS' VESSEL CAPTAIN ISSUES AUTHORITY TO BOARD (ATB) TO ENABLE BUYER'S INDEPENDENT INSPECTION TEAM TO BOARD THE LOADED VESSEL FOR QUALITY AND QUANTITY(Q&Q) ANALYSIS AT BUYER'S DISCHARGE PORT. 10) AFTER CONFIRMATION OF THE Q&Q, SELLER PROVIDES INVOICE ON QQ REPORT CONDUCTED AT DISCHARGE AND ISSUES THE COMPLETE SHIPPING DOCUMENTS TO THE BUYER’S BANK IN BUYER’S NAME IN EXCHANGE FOR PAYMENT VIA MT103/72 TO ENABLE THE BUYER PROCESS THE CASH PAYMENT FOR THE CARGO AFTER DISCHARGE IN THE BUYER’S FARM TANK. 11) THE VESSEL DISCHARGES CARGO AT AGREED DESTINATION PORT. 12) UPON COMPLETE DISCHARGE OF CARGO, BUYER'S BANK WITHIN 48HRS, PAYS VIA FOR THE ENTIRE CARGO TO SELLER'S AUTHORIZED BENEFICIARY NOMINATED BANK ACCOUNTS & COMMISSION AGENTS AS STIPULATED IN THE IMFPA IN THIS CONTRACT, WHICH IS BASED ON THE TOTAL OUT TURNED BARRELS PRESENTED IN THE LAST Q&Q INSPECTION IN BUYER’S DISCHARGE PORT. 13. NEXT SHIPMENT CONTINUES ACCORDING TO Contract Kindly +60 or