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Looking For REBCO & BLCO seller



REBCO Buyers Published date: August 9, 2016



1. SELLER ISSUES CONTRACT (SPA) WITH PPOP WHICH CAN BE CONFIRMED IN NNPC TOWER ABUJA OR BONNY TERMINAL.
2. BUYER AND SELLER SIGN AND SEAL CONTRACT (SPA) INCLUDING BANKING COORDINATES. THE ELECTRONIC SIGNED COPY BY BOTH PARTIES IS CONSIDERED LEGALLY BINDING AND ENFORCEABLE AND MUST NOT BE CHANGED. THE EXECUTED SPA IS LODGED IN THEIR RESPECTIVE BANKS.
3. SELLER ISSUES ACCEPTANCE LETTER WITH AGREED PROCEDURE IS ENCLOSED, AND IMFPA. WITHIN TWO (2) BANK WORKING DAYS OF TWO (2) ABOVE, THE SELLER ISSUES R.W.A. OF 2% PERFORMANCE BOND (PB) (INCLUDE PB’S FULL TEXT) VIA SWIFT TO BUYER'S BANK. (SELLER SIDE ADVANCED A COPY TO BUYER BY EMAIL FOR CROSS VERIFICATION).
4. WITHIN FIVE TO SEVEN (5-7) BANK WORKING DAYS, BUYER'S BANK ISSUES BG VIA MT760 TO ACTIVE SELLER'S 2%PB. (BUYER SIDE ADVANCED A COPY TO SELLER BY EMAIL FOR CROSS VERIFICATION).
5. UPON CONFIRMATION OF BUYER'S OF BG VIA MT760, SELLER'S BANK ISSUES 2% PB VIA MT760 TO BUYER'S BANK. (SELLER SIDE ADVANCED A COPY TO BUYER BY EMAIL FOR CROSS VERIFICATION). ALSO, SELLER GIVES TO THE BUYER: ALL LOADING DOCUMENTS IN BUYER'S NAME WITHIN SEVEN (7) DAYS.
• BUYER AS THE CONSIGNEE, and
• SELLER AS THE CONSIGNOR
ATS AND ALL SHIPPING DOCUMENTS, COPIES EMAIL TO BUYER FOR VERIFICATION AS FOLLOWING:
•        Clean–on–board ocean Bills of Lading.
•        Certificate of quantities by NNPC or (SGS or equivalent).
•        Certificate of Origin.
•        Vessel Ullage report /Tanker report.
•        Master receipt for sample.
•        Cargo Manifest.
•        Master receipt  for documentation.
•        Certificate of authenticity.
•        Certificate of quality.
6. SELLER SHALL ESTABLISH FULL COMMUNICATION AND CONTROL BETWEEN THE BUYER'S SHIPPING AGENT AND THE CAPTAIN OF THE VESSEL, AND INSTRUCTS LOADED VESSEL CAPTAIN SEND NOR/ETA TO BUYER’S SHIPPING AGENCY.
7. SELLER'S LOADED VESSEL CAPTAIN AND BUYER’S DESIGNATED SHIPPING AGENCY CONFIRM AND ESTABLISH RELATIONSHIP AND AGREE TO GIVE TIMELY NOTICE ACCORDING TO INTERNATIONAL TERMS. SO THAT BUYER’S CARGO AGENCY CAN CONVENIENTLY MAKE ARRANGEMENT OF DISCHARGE AND CUSTOMS DECLARATION ETC.
8. SELLER’S VESSEL SAILS TO THE BUYER’S DISCHARGE PORT OR STORAGE FACILITY ASWP. ETA SENT PERIODICALLY AS THE VESSEL SAILS TOWARDS PORT OF DISCHARGE.
9. BUYER’S SHIPPING AGENCY AWAITS SELLER’S VESSEL. UPON ARRIVAL, WHEN SELLER’S VESSEL DROPS ANCHOR, LOCAL CHINESE GOVERNMENT AUTHORITIES WILL BOARD THE VESSEL TO PERFORM SAMPLE TEST (QnQ). ONCE TEST IS DONE, BUYER’S SHIPPING AGENCY FOR IMMEDIATE COMMENCE OF DISCHARGE AFTER CUSTOMS DECLARATION ETC.
10. SELLER INSTRUCTS VESSEL'S CAPTAIN TO DISCHARGE CRUDE OIL AT BUYER'S ONSHORE TANKS FOR CIQ. AFTER CIQ IS COMPLETED AND QUALIFIED, REPORT WILL BE SENT TO BOTH THE BUYER AND THE SELLER.SELLER RELEASES CPA OF THE VESSEL/INSURANCE CERTIFICATE. WITHIN THREE TO FIVE (3-5) BANK WORKING DAYS, THE BUYER PAYS FOR THE CRUDE OIL AGAINST PRESENTATION OF STATED SHIPPING DOCUMENTS, CIQ REPORTS, COMMERCIAL INVOICE ETC (NON-NEGOTIABLE COPIES) AT BUYER'S BANK.
11. BUYER’S BANK PAY VIA MT103 WIRE TRANSFER TO COVER THE TOTAL COST OF THE CARGO BASED ON CIQ WITHIN THREE TO FIVE (3-5) BANK WORKING DAYS BASED ON THE ACTUAL AMOUNT TO THE ACCOUNT DESIGNATED BY SELLER.
12. SELLER CONFIRMS THE WIRE TRANSFER AND RELEASES THE TITLE AND THE ORIGINAL SHIPPING DOCUMENTS INCLUDING FULL POP IN THE NAME OF BUYER THROUGH HIS BANK TO BUYER'S BANK WITHIN TWO (2) BANK WORKING DAYS. COMMISSION WILL BE PAID SIMULTANEOUSLY BY SELLER TO ALL AGENTS/FACILITATORS/MANDATES AS PER IMFPA.
13. DELIVERY IS CIF PRICE. THE PRICE TO BE PAID SHALL BE BASE ON THE DISCHARGED QUANTITY OF CRUDE OIL FOR EACH SHIPMENT BASED ON STANDARD BARREL AND UNDER "DATED BRENT" AS IN THE PLATT'S OIL GRAM REPORT. THE APPLICABLE CURRENCY IN RESPECT OF PAYMENT FOR THE CARGO SHALL BE UNITED STATES DOLLARS (USD). THE PRICE SHALL BE CALCULATED ON THE THREE (3) DAYS AVERAGE MEAN QUOTATION, ONE DAY BEFORE, THE DATE OF CIQ, AND ONE DAY AFTER.

  • Country: China



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