Description

Offtakers will take product on board a vessel from Bonny Light Terminal and place MT**0 or alternatively mt**3 for FOB, upon being issued cargo documents in their name and verifying (this would be SPA procedure). Please confirm whether they would be ready to take cargo, 2 million barrels, in *0 days\' time, counting from this coming Monday

If the cargo is CIF Europe: Net $3.*0 to Buyer

If the cargo is bought FOB : Net $5
Europe


FOB Procedure Summary

Buyer and Seller Sign SPA

Seller, nominates and loads vessel and releases loading documents to Buyer for verification with the Terminal

Buyer verifies documents and within *2 hours of receiving loading documents, Buyer makes payment byMT**3 

Vessel Sails to POD


CIF Procedure Summary

Buyer and Seller Sign SPA

Seller, nominates and loads vessel and releases loading documents to Buyer, in Buyers name, for verification with the Terminal

Buyer verifies documents and within *2 hours of receiving loading documents, Buyer places MT**0 

Vessel Sails to POD

Q AND Q at POD

Buyer pays by MT**3, Title Exchanged, Vessel discharges into Buyers tanks

Next Delivery.