Light Crude Oil Sellers Published date: July 22, 2018

PROCEDUPRES / PAYMENT INSTRUMENT:

1)Seller issue SPA , Buyer signs and returns
.
2)Seller issue, TSR related POP documents to buyer for confirmation. After confirmation of theTSR from the seller the Buyers Bank issue MT700BLOCK FUND OR MT700 DLC to Sellersnominated bank account within Three (3)international banking days for the full cargo.

3)Seller issues FULL POP to the buyer upon confirmation of receipt of the MT700 BLOCKFUND OR MT700 DLC

4)Upon successful conclusion of Q&Q analysiswith the inspection of NNPC/seller s on-landstorage tank, inspectors release report to bothparties while Seller issue commercial invoice tothe Buyer with exact Q/Q report figures.

5)Buyer releases full payment for cargo toSeller's nominated bank within 72 hours afterinspection against Q/Q Report, CommercialInvoice and Cargo Documents by MT-103 (cashwire transfer).

6)Seller pays commissions to all intermediariesstipulated in the IMFPA of the SPA afterconfirmation of receipt of the full payment within72 hours.

7.Seller immediately registers POP and obtaincertificate of ownership in buyer s name. All POPand ownership documents to be given to thebuyer immediately after receipt of the fullpayment.

8. After confirming the payment, the sellerauthorizes the buyer s agent to transfer thecargos to the buyer.

9. Seller makes subsequent shipments on simpleCI/DIP/PAY basis for 11 months per schedule.

Contact us at.

info@ueconsultants.com

• Company Name: U&E Consultants.e.U.
• Country: Austria

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