Multiple China buyers to purchase BLCO as per their approved terms below:
Total quantity 26 million bbls (2 million bbls + 2 million bbls per month x 12-month annual contract).
Price Brent discount Gross US$12 - Net US$8 per bbl (commission Seller’s mandate/facilitator US$2 open/ Buyer’s mandate/facilitator US$2 closed)
These buyers are urgently needed to purchase the first spot trial shipment of 2 million barrels with loaded tanker available in China water, CIF China port with PG by an Irrevocable, Confirmable and Operative cash-backed DLC (MT700 VIA SWIFT ICC standard) in the amount of ONE MILLION AND FIVE HUNDRED THOUSAND UNITED STATES DOLLARS ($1,500,000.00) validity for forty-five (45) day for the FIRST SPOT TRIAL SHIPMENT to seller nominated bank account. Buyer releases full payment for cargo to seller's/agents nominated bank account within 72hours by MT-103 ( after completed inspection against Final Quantity Report, Commercial Invoice, Cargo Documents, and Customs Clearance.
Within 5 banking days after satisfactory delivery of FIRST SPOT TRIAL SHIPMENT, Buyer bank issue an Irrevocable, Confirmable and Operative cash-backed DLC (MT700 VIA SWIFT) with a face amount of one (1) month shipment value with a validity period of 366 days for the 12 months contract as a PG.
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