Description

I am the Facilitator for this deal.

Quantity: **4M BBL per month from NNPC bulk allocation
Product: Bonny Light Crude Oil
Quality: Nigerian Light Crude Oil of Standard Export Grade (NNPC export Grade)
Delivery terms: CIF, TTO, TTT, FOB (INCOTERMS ***0)
• We trade directly with refineries or SPORT sales (OPEC & Non OPEC)
• Delivery to Rotterdam or China based CIF Incoterms standard basis
• Quingdao China: $9 / $5; $5 net to buyer
• Rotterdam: $*0 / $6; $6 net to buyer.
• TTO: $*1 / $4 less
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TRANSACTION PROCEDURE: CIF
1. Seller issues contract
2. Buyer sign and returns with NOR/ATB format
3. Buyer issues RWA to issue MT**0 to seller bank (see attached format)
note:copy of RWA should be sent from buyers bank official email to seller bank officer email and cc to
seller
4. Upon acceptance and authentication of RWA seller issues assurance letter via NNPC to the buyer.
5. Buyer issues operative BGM**0 according to seller verbiage(see attached verbiage) note:Swift copy
of BGMT**0 should be sent to seller bank officer official email and cc to seller
6. Upon acceptance and authentication of BGMT**0 seller post cashed backed 2%operative
performance bond via MT**0,* nominates vessel and issues full cargo documents on the buyers name
and seller instruct captain to issue NOR/ETA to buyers pod as reference to buyers NOR/ATB
FORMAT.
7. SELLERISSUES FULL SET OF CARGO DOCUMENTS DTA (DIPTEST AUTHORIZATION
LETTER) IN BUYERS NAME ALONG WITH WARRANTY OF TITLE (WOT) DIRECTLY FROM
THE NNPC inspectors buyer inspectors go in for inspection upon successful inspection payment is
made within *8 hours.
8. BUYER RELEASES PAYMENT BY MT**3T/T WIRE TRANSFERS WITHIN *8Hours.
NOTE: THE FINANCIAL INSTRUMENT (MT**0) MUST BE A MATURITY OF 1YEAR ONE
DAY
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PROCEDURE TTO
1. Buyer and seller sign and seal spa with full bank information. The electronic signed copy is
considered legally binding on both parties and enforceable in any court of law that has jurisdiction.
2. Buyer returns the signed contract with the following:
ATB FORMAT
SCANNED DATA PAGES OF THE INTERNATIONAL PASSPORTS OF HIS INSPECTOR AND
SUPER CARGO. Buyer Blockfund or Escrow $**0,**0 into seller account for ATB, CLEARANCE
AND LOGISTICS.
3. Seller confirms ESCROW OR BLOCKFUND , vessel moves to ***5 Nautical Miles Ghana water
and issues Marine Authority to Board (MATB) and Clearance to Buyer. Seller takes Buyers Inspector
and super cargo on board his loaded Vessel to conduct Quality and Quantity analysis of the Cargo.
4. Upon confirmation of cargo and Q&Q report, Buyer PAY FIVE HOUNDRED THOUSAND Dollars
(USD $**0,**0) OR transfers by SWIFT the same amount into the Sellers account for Documentation,
Clearance and other logistics
5. After successful Q&Q analysis, the result is given to both the seller and Buyer. Buyers Bank then
issues MT**3 which crystallizes within *8 Hours (Two Banking days). Payment is immediately made
by SWIFT via MT**3 into the Sellers account (less the USD $**0,**0 paid as
logistics/Documentation) and all intermediaries accounts in this SPA.
6. After confirmation of payment, Seller releases all loading documents to Buyer and hands the Buyer
over to the Vessel Handler fort a smooth takeover of the Vessel.
7. Vessel sails to destination port.