CRUDE OIL, LNG,LPG, OIL, NBLCO, BLCO,LCO,FUEL MAZUT M100,GASOLINE, PET COKE, REBCO,base oil, kerosene,gas,Diesel Gas Oil, Jet Fuel ,NNPC,Dimethyl

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CRUDE OIL, LNG,LPG, OIL, NBLCO, BLCO,LCO,FUEL MAZUT M100,GASOLINE, PET COKE, REBCO,base oil, kerosene,gas,Diesel Gas Oil, Jet Fuel ,NNPC,Dimethyl

Post  Admin on Wed Jun 27, 2018 7:16 am

This ICPO Also including purchasing worldwide ANY ORIGINS ANY SPECIFICATIONS:
PETROLIUM products/by-products:
ether,olefins,alcohols,Bitumens.Heavy Cycle oil HCO .Dry gas.Propane-propylene Fraction
(PPF) .Butane-butylene Fraction (BBF).Propane-butane Fraction (PBF).White spirit
47.ALPHA-OLEFINS C8-C10 FRACTION.ALPHA-OLEFINS C12-C14 FRACTION etc.if SCO/FCO the any
specification with COA and contract, then we send another formal ICPO accordingly.
 
Delivery Term:
1. CIF/CFR USD any port
china(DALIAN,LIANYUNGANG,SHANGHAI,NINGBO,QINGDAO,HUANGGANG)

Delivery time : 25-30 Days,seller option

Performance Bond: OPERATIVE 2% PERFORMANCE BOND AND THE PROOF OF PRODUCT.
This ICPO Also including purchasing worldwide ANY ORIGINS ANY SPECIFICATIONS:
PETROLIUM products/by-products:CRUDE OIL, LNG,LPG, OIL, NBLCO, BLCO,LCO,FUEL MAZUT
M100,GASOLINE, PET COKE, REBCO,base oil, kerosene,gas,Diesel Gas Oil, Jet Fuel ,NNPC,Dimethyl
ether,olefins,alcohols,Bitumens.heavy Cycle oil.Dry gas.Propane-propylene Fraction
(PPF) .Butane-butylene Fraction (BBF).Propane-butane Fraction (PBF).White spirit
47.ALPHA-OLEFINS C8-C10 FRACTION.ALPHA-OLEFINS C12-C14 FRACTION etc.if SCO/FCO the any
specification with COA and contract, then we send another formal ICPO accordingly.

PB must be FIRST operative before L/C or non-operative PB for activation by the
Buyer's LC (China Buyer can only issue out LC (Irrevocable Non-transferable
Documentary Letter of Credit)to seller.
china bank only DLC,not allow SBLC/IRDLC(only each shipment each LC)/BG!.China
banks never SWIFT MT 799 block fund

The Buyer accept the Payment Terms & Procedure:
1. BUYER AND SELLER SIGN AND SEAL THIS CONTRACT AND EXCHANGE THE SIGNED COPY
BYELECTRONIC MAIL. THE ELECTRONIC SIGNED COPYBY BOTH PARTIES IS CONSIDERED
LEGALLY
BINDING AND ENFORCEABLE.

2. BUYER RETURN SIGNED SPA & SEND NOR/ETA FORMAT TO SELLER for A CORPORATE ON
CORPORATE
LETTER HEAD OF PAY.(for Letter of guarantee The company).

3. SELLER PROVIDE POP & ATS AND INSTRUCT THE CAPTAIN OF THE LOADED VESSEL TO
ISSUE NOR/ETA
TO BUYER’ S PORT OF DISCHARGE [POD]SHIPPING AGENT, BUYER SHIPPING
AGENCYACKNOWLEDGE
THE NOR/ETAAND COMMUNICATE WITH VESSEL CAPTAIN & MASTER ISSUE AUTHORIZED
AGENCY
LETTER TO SHIPPING AGENCY OF POD.

4. AFTER BUYER RECEIVE POP & NOR/ETAAND AUTHORIZED AGENCY LETTER FROM VESSEL
MASTER,BUYER PROVIDE CURRENT COOPERATION BANK STATEMENT OR TEAR SHEET.
BUYER
SHIPPING AGENCY COMMUNICATE WITH VESSEL MASTER , MASTERPAYAGENCY FEE TO
SHIPPING
AGENCY OF POD

5. A.UPON CONFIRMATION OF AUTHORIZED AGENCY LETTER & AGENCY FEE, BUYER’S BANK
ISSUES The
total amount of $100 million,ROTATION/MONTHLY MT700 DLC FOR 60 DAYS TO SELLER
BANK. THE MT700
DLC IS EXTENDED FOR ANOTHER 90 DAYS(90+90+120) BEFORE EXPIRY.SELLER BANK ISSUE
ROTATION/MONTHLY 2%PB TO BUYER BANK/BUYERS NOMINATED BANK VIA SWIFT. The
seller has delivered
2 ships of crude oil continuously, and the quantity is 4 million barrels to the buyer.

5. B.UPON CONFIRMATION OF AUTHORIZED AGENCY LETTER & AGENCY FEE, BUYER’S
NOMINATED
BANK ISSUES The total amount of $100 million,ROTATION/MONTHLY MT760 DLC FOR 60
DAYS TO SELLER
BANK. THE MT760 DLC IS EXTENDED FOR ANOTHER 90 DAYS(90+90+120) BEFORE
EXPIRY.SELLER BANK
ISSUE ROTATION/MONTHLY 2%PB TO BUYER BANK/BUYERS NOMINATED BANK VIA SWIFT.
The seller has
delivered 2 ships of crude oil continuously, and the quantity is 4 million barrels to the buyer.

6. A. VESSEL SAILS TO BUYER’S STORAGE LOCATION AND COMMENCE DISCHARGE, VESSEL
CAPTAIN TO
ISSUE MARINE DTATO BUYER INSPECTOR TERM FOR DIP TEST. BUYER CONDUCTQ&Q
INSPECTION VIA
CIQ,then Seller for 2 ship delivery of crude oil, the amount of 4 million barrels to the buyer
(DLC/MT103 PAY FOR ONE
VESSELS + BANK TO BANK VIA D/P FOR ONE VESSELS-Refers to the second ships) .

6. B. VESSEL SAILS TO BUYER’S STORAGE LOCATION AND COMMENCE DISCHARGE, VESSEL
CAPTAIN TO
ISSUE MARINE DTA/ATB TO BUYER NSPECTOR TERM FOR DIP TEST. BUYER CONDUCT Q&Q
INSPECTION
VIA CIQ,Then Seller for 2 ship delivery of crude oil, the amount of 4 million barrels to the
buyer(THE DLC/SBLC(if available) MT760 only
For payment under guarantee,The seller for delivery TWO VESSELS FOR BANK TO BANK VIA
D/P).

Buyer shall issue a LETTER OF INTENT in favor of the Seller, Nigerian
National Petroleum Corporation. After due diligence, the Seller shall send a
SALES AND PURCHASE AGREEMENT (SPA) to the Buyer for their review and
study. Thereafter, the buyer shall sign and send the SPA together with
Company Registration Certificate copy and CEO Passport Copy to the Seller for
their signature. The Seller shall then send back the signed SPA to the Buyer for
their records. Both the Seller and the Buyer shall lodge a copy of the SPA to
their respective bankers for their records.
b. The Seller shall issue and present their PROVISIONAL Commercial Invoice
and the complete set of original Shipping Documents to their Seller’s bank for
sending by Bank Courier Service to the Buyer’s bank based on DOCUMENTS
AGAINST PAYMENT (DP).
BILL OF LADING is to be made out of “To Order” and/or endorsed “To Order of
the Buyer’s Bank “_______BANK LTD”, Full address:
__________________________ China” indicating the Notify Party : (Buyer’s
name and full address). Bill of Lading is to indicate also the Shipping Agents
company name, full name of the shipping manager, address, telephone
number and email address at the Port of Discharge. Other documents are to be
made out “TO WHOM IT MAY CONCERN”.
c. After the Buyer’s bank has received the Seller’s Provisional Commercial
Invoice and the complete set of original Shipping Documents from the Seller’s
bank, the Seller shall instruct the Shipping Agents to notify the buyer of the
arrival of the Oil Tanker via E-mail or telephone. After the Clearance of the Oil
Tanker by the Authorities concerned at Port of Discharge, the Captain of the Oil
Tanker shall issue “NOTICE OF READINESS” to discharge to the Shipping
Agents and “Authorization to Board” for the Buyer’s Inspection Team to board
the Oil Tanker to do DIP TESTING for issuance of Q AND Q REPORT. After DIP
TESTING has been performed, both the Seller and the Buyer shall each be
issued with an ORIGINAL Q AND Q Report.
d. Thereafter the buyer shall issue a Letter of Indemnity and the buyer’s bank
shall issue a SHIPPING GUARANTEE   as payment undertaking
guarantee of the cargo BLCO discharged and present same to the Shipping
Agents for the “DELIVERY ORDER” for taking delivery of the cargo in the
absence of Original Bill of Lading.
e. Thereafter, the Captain shall be instructed by the Shipping Agents to berth
the designated Terminal for discharging of the cargo (BLCO) to be stored in the
buyer’s leased BONDED TANKS FARM STORAGE.
f. Upon completion of the discharging of the cargo, the Seller shall calculate the
average price based on “DATED BRENT” as in the PLATT’S OIL REPORT on THE
DAY BEFORE DISCHARGING, THE DISCHARGING DAY AND THE FOLLOWING
DAY AFTER DISCHARGING.
g. The Seller shall issue the COMMERCIAL INVOICE and together with the
ORIGINAL Q AND Q REPORT present to the Seller’s bank for dispatching to the
Buyer’s Bank. Within three (3) banking days after the Buyer’s bank has received
the documents and instructions from the Seller’s bank, the Buyer’s bank shall
make payment via SWIFT MT103 accordingly. Simultaneously, the buyer’s bank
shall make payment via SWIFT MT103 the Consultants fee to the beneficiaries
according to the instructions indicated in the SALES AND PURCHASE
AGREEMENT.
h. After the payment has been effected, the Buyer shall surrender the Original
Bills of Lading to the Shipping Agents for exchange back the Shipping
Guarantee issued and earlier submitted by the Buyer’s bank. Transaction
concluded.


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