JP54 Sellers Published date: June 23, 2014 Modified date: June 23, 2014

JP54
500,000 bbls spot to CONTRACT.
Port:Novo
Price: $-9/$-8
Procedures:

1. Seller issues CI to be signed and returned by Buyer.

2. Seller issues Supplier’s Commitment to Supply Letter as partial POP(Contract Number, Refinery Code, Transaction Code & Product Allocation Index)in exchange for Buyer’s Storage Tank information (including lease and receipt) in Novorossiysk or Vessel’s information (including CPA with receipt to demonstrate that the vessel has been contracted).

3. Upon verification of Buyer’s Storage Tank or Vessel at port, Seller arranges to download fuel to staging tank and issues Dip Test Authorization (“DTA”) with Tank Storage location.

4. Buyer performs dip test, and upon successful verification, pays with MT103 against Title transfer within 12 (twelve) hours, and lifts product. Contract commences after first lift with Buyer lodging a payment guarantee bank instrument to cover value of one month’s lift to secure Contract.

Regards,

Festus Orugbo
MD/CEO
Fleo Global Services Ltd.

• Company Name: Fleo Global Services Ltd
• Country: Nigeria

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