We have a direct seller of NNCP BLCO & have their procedures below at discount of 8/5. Unfortunatly I have had potentails buyers but all have ended up with wasting our time. We have the capability of suppliying 2-6 million barrels a month. Regards 1. Buyer and Seller sign and seal this Contract including banking coordinates and exchange the signed copy by electronic mail. 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 and Buyer returns signed contract with his port of discharge details (POD). 2. Buyer's bank issues a pre-advise by swift for a fully funded Letter of credit to seller's bank to inform of MT 103/239(have requested sellers to ammend to MT760/MT799), upon the receipt of Seller issued 2% Performance Bond to activate the buyer’s LC. 3. Seller issues 2% Performance Bond to Buyer4. Buyer’s Bank releases original swift of fully funded Letter of Credit to seller’s Bank that automatically activates the seller’s 2% Performance Bond. 5. SELLER nominates vessel(s) & charter the vessel in name of BUYER, and commences loading immediately within NNPC lifting program and provides full POP (Proof of Products) for buyer's verifications. 6. Captain issues NOR / ETA to buyer's shipping agents. 7. Vessel(s) sails to Buyer's discharge port. 8. Upon arrival at Buyer's discharge port, Captain shall issue ATB to buyer's inspectors for Q and Q analysis. 9. Upon successful Q and Q including Dip Test. 10. Buyer pays for entire product by Wire Transfer / Swift MT-103(have requested sellers to ammend to MT760/MT799), into the Seller's account and Buyer's & Seller's agents' s of cargo discharge, based on out-turned barrel, transfer of ownership and presentation of relevant shipping documents at Buyer's bank counter. Intermediaries, each shall be responsible for their own commission bank charges.
