Genuine Offers sought for product below.
Quantity: 2-4,000.000 barrels per month
Contract duration: 12 months, with possible extensions
Quality: NNPC export standard
Delivery: FOB
Price: 3 days average, the day before, the day of and day after B/L mean quotation for platt
Discount: FOB Us $ 6,00 gross and us $ 4.00 net pbbl.
Commission: 50/50 Seller and Buyer's side
Payment: Irrevocable, non transferable, non divisible, revolving DLC.
Inspection: Sgs/Saybolt at Loading Port/Discharge Port.
FOB PROCEDURES:
1. Buyer Representative Issues LOI
2. Seller Issues Draft Contract and forward for Buyer review/signature.
3. Seller issues to Buyer written confirmation from NNPC London Office,
stating genuine nature of Sellers allocation.
4. Upon verification of written NNPC London, confirmation letter, Buyers
Bank issues Letter of Undertaking (LOU) equal to cash value of
monthly shipment.
5. Buyer sends all needed vessel information to Seller for Seller to call
in Vessel for loading.
6. Seller calls in vessel, concludes loading and forwards to Buyer Q&Q
with B/L, SGS/Saybolt and any other relevant documents as required.
7. Buyer issues Non Transferable, Non Divisible Documentary Letter of
Credit to replace LOU.
8. Buyers Vessel sails to destination to discharge cargo.
9. Buyer pays the Seller upon receipt of relevant shipping documents
at Buyers Bank counter. All other terms/conditions as per
contract.
Please note we do not entertain SPOT Offers, TTT and TTO Offers.
.
