8mil BLCO IN CHINA TANK FARM

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8mil BLCO IN CHINA TANK FARM

Post  Admin on Mon Aug 13, 2018 2:29 pm

Dear company office  

Here is the documents for Chinese Tank Farm let your buyers issues Financial instruments of mt760 SBLC mt799 or mt700 DLC open
NNPC will reassign full cargo documents in buyers name and issues WOT and Clearance for dip test in tank farm Onshore or Offshore
NNPC MANDATESHIP LETTER-2018
https://vk.com/doc135330139_472477487?hash=d5b78f5b2eb52fb7f9&dl=257b4b8fe076b439e7

AUTHORITY TO SELL CARGO IN TANKFARM CHINA(
https://vk.com/doc135330139_472477562?hash=576dc4d9e4ff681346&dl=00def22cdda9a100f1


TRANSACTION PROCEDURES:
https://vk.com/doc135330139_472479087?hash=7a8f0d6c060f284727&dl=da2ef5955aec5087f8



1.  THE SELLER SEND SPA TO  BUYER TO
SIGN AND SEAL THE AGREEMENT AND EXCHANGE COPIES VIA FACSIMILE OR ELECTRONIC MAIL. THE ELECTRONICALLY TRANSMITTED COPY SIGNED AND SEALED BY BOTH PARTIES SHALL BE CONSIDERED LEGALLY BINDING AND ENFORCEABLE BOTH PARTIES DEPOSIT COPIES OF SPA IN THEIR BANKS.



2. Buyer makes payment of reassignment fee of $100M of MT 760 SBLC or MT 799 block fund to NNPC nominated fiduciary account.

3.Sellers/NNPC issues provisional W.O.T/NNPC Tank farm storage
* Land inspection certificate.
* Chinese TSR (tank storage receipt) of 8 million barrels with Reservoir contact,
* Discharge Certificate
* custom clearance documents.

4. Buyer verifies product through NNPC Bonny Terminal China Tank Farm Manger/Tank Farm Operator by phone and email.


5.NNPC officially releases Chinese custom endorsed TSR (tank storage receipt) and WOT (warrant of title) in the name of the buyer and sends the dip test authorization (dta) license to buyer. Buyer then books appointment to meet with Tank Farm Manager in China for a face to face meeting.

6. The buyer shall nominate CIQ as inspection agent to perform the quality and quantity tests.

7. Within 3 banking days, buyer’s inspectors (CIQ) shall issue inspection report, the location of CIQ being taken place will be the tank farm at the Zhoushan or Qingdao tank farms locations.

8. Within 5 banking days after CIQ Q & Q report have been released to both parties, buyer pays the totalcost of product upon seller having submitted full shipping documents along with commercial invoice and CIQ Q/Q reports via MT103 to seller/NNPC nominated fiduciary bank account.

9. NNPC confirms receipt of the payment of buyer’s MT 103 at nominated bank account, NNPC shallrelease the required quantity of BLCO to buyer by issuance of new “ownership title certificate” in Buyer’s name.

10. Buyer shall take delivery of the quantity of BLCO from storage tank with NNPC “ownership    title certificate”.

11. Upon completion of first 6,000,000 barrels delivery successfully, both parties mutually agreed to renegotiate for the next transaction which follows for one year contract.

12. Price is $10.00 gross, $6.00 net to Buyer and $4.00 to be shared between           Brokers/Facilitators/Consultants on both sides.



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