TRADING PARTNERS

NON-FOOD - Oil, Gas & CPO - Nigeria BLCO

Nigerian Bonny Light Crude Oil BLCO

Please, find bellow working procedure and let us know if there is something to adjust, in order to conclude a deal:

Seller requires proof of funds (POF) from buyer; this can be waived if Buyer is a Blue Chip company.

I. Seller's bank issues a pre-advice Performance bond to buyer.

II. Buyer's bank issues a NON-OPERATIVE Standby Letter of Credit (SBLC) in favor of the seller.

III. Seller's bank lodges a 2% PERFORMANCE BOND (PB) to activate the buyer's LETTER OF CREDIT.

IV. Seller nominates vessel: Ship Name, Call Letters, Captain's Name and a Copy of the Aspatankvoy Sub-Charter Party, the cargo will be officially registered and programmed in buyer's name to reflect on SHELL network screen London, Lloyd's for buyer verification as the consignee of the cargo and shall appoint their local agent to coordinate the legal procedure.

V. CHARTER PARTY AGREEMENT: These documents including Bill of Lading will also be supplied for verification on the buyer's name.

VI. Buyer accepts the vessel through vessel agent, owners and Lloyd's offices, London. Vessel Master will be advised to proceed to the loading terminal BONNY, Inspectors conduct quality and quantity inspection before and after the actual loading and endorsed by the vessel captain.                     

VII. The Seller delivers crude oil to the Loading port, and loads the vessels; full shipping documents are collated to be presented to the Buyer's bank.

Within 3days after discharge of crude oil at Buyer's port of destination the Buyer pays for the crude oil as per the Final Q & Q Report  issued  by independent inspector at the port of discharge. Payments are made by SWIFT wire transfer directly to the seller's authorized beneficiary agent  nominated bank accounts and commission agents as stipulated in the MFPA in this contract within 3 days after the product delivery to buyer's nominated port of discharge against presentation of stated shipping documents at buyer's bank.

Please, contact us with your specific Corporate Soft Inquiry for this rare commodity.