Offer Blco FOB 2 mil BBLS

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Offer Blco FOB 2 mil BBLS

Post  Admin on Mon Feb 11, 2013 2:20 pm

Dear Company Office

check it out  offer BLCO  FOB   

Kindly see attached spa , very sample procedure and like you earlier mentioned that is the proof that the seller can perform? The seller has proof it in a simple term, just let your buyer sign and returned with his vessel details to receive NOR before your buyer can now place M799.

Here your buyer has nothing to loss!!


Offer :

CRUDE OIL SALE/PURCHASE CONTRACT AGREEMENT
THIS CONTRACT AGREEMENT IS FOR THE SALE AND PURCHASE OF NIGERIA LIGHT CRUDE OIL IS MADE AND ENTERED INTO
BY AND BETWEEN

XXXXXXXXXXX LTD
XXXXXXXXXXXXXX
[HEREINAFTER CALLED THE SELLER]

AND


[HEREINAFTER CALLED THE BUYER]
CONTRACT FOR SALES AND PURCHASE AGREEMENT
THIS AGREEMENT MADE ON THIS 14TH DAY OF February , 2013
BETWEEN
SELLERS COMPANY NAME: XXXXXXXXXXXLTD
(For & on behalf of NNPC Bonny Terminal)
The company incorporated under the laws of of Federal Republic of Nigeria, hereinafter called the “SELLER”, which expression where the context so admits, shall include their personal representatives, Heirs, Successors-In Title and Assign on the one part:

AND

BUYERS COMPANY NAME:
The company incorporated under the laws of the Republic of …….., hereinafter called the “BUYER” which expression where the context so admits, shall include their personal representatives, heirs, successors-in title and assign on the other part.

WHEREAS, the buyer agrees to buy and/or pay for the product and seller agrees to sell and/or deliver the cargo on the conditions herein and in accordance with the contract procedures accompanying this agreement. Whereas, the parties mutually accept to refer to the General Terms and Definitions, as set out by the INCOTERMS, Edition 2000 with latest amendments, having the following terminology fully understood and accepted;

DEFINITIONS:
US BARREL: The unit of volume measured at standard temperature of 60 degrees Fahrenheit and equals to 42 US Gallons, with each gallon containing approximately 4.5 liters.
GALLON: A unit of volume equivalent to 231 cubic inches or 0.3785 cubic meters, all Measured at degrees F.

Metric Ton: A measure of weight equivalent to one thousand kilogram mass (1,000kg).

Commodity: Referred to as being “BLCO” elsewhere in The Agreement also referred to as
FLCO” which specifications, as specified by NNPC and will be furnished by the seller and
Added as Appendix “A” to this contract.
Day: Means a calendar day, unless differently specified.
Month: Means a Gregorian calendar month.




Bill of Lading: The official document, issued at the load port after completion of the loaded quantity, expressed in cubic meters (3) and in Metric Tons (MT) or barrels per the Definitions herein. This document has to be signed in original by the ship’s master and made out in accordance without the instruction hereinafter specified in the agreement.

FOB Strictly as referred to in the interpretations defined by the INCOTERMS Edition 2000 with latest amendment.FOB automatically metamorphoses procedurally into (FREE ON BOARD).

Loading Date: The date mutually accepted by both the Seller and the Buyer as the date on which the nominated international surveyor Company has ascertained the quantity and Quality of the product pumped into the Buyer’s designated vessel.

PLATT’S: Platt’s McGraw Hill London is the organization, internationally recognized and
Accepted, who publish official market scan of petroleum products Mediterranean on a daily
Basis.

Execution Date: The date on which the Seller and the Buyer receive their respective faxed
Copies of his agreement or as may be indicated otherwise in The Agreement.

API/ASTM: API/ASTM Standards referenced in this Agreement are those in effect as at July 1st 1993. In the event that such Standards are subsequently revised or modified, or new Standards are issued; the new, revised or modified Standards will apply. Whereas, the parties mutually desire to execute The Agreement, which shall be binding upon and to the benefit of the parties, successors and assigns, in accordance with the Jurisdictional law of the Negotiated and fully executed contract with terms and provisions hereunder agreed upon.

CLAUSE 1: SCOPE OF THE CONTRACT.
1.1 The Seller and the Buyer, under full corporate authority and responsibility respectively represent that the Seller is a lawful owner of the commodity, in quantity and quality as Hereunder specified, and the Buyer has the full capability to purchase the said commodity.

1.2 The Buyer desires to purchase Crude Oil (hereinafter called “Product”) of Nigerian
Origin. The Seller has the independent capacity and ability to purchase the product from the
Nigerian National Petroleum Corporation (NNPC) or its official lifters and re-sell same to
the Buyer.

The Seller has accepted to procure the crude oil from the appropriate authorities and re-sell same to the Buyer and the Buyer has accepted to take delivery of products from and make Payments to the seller for crude oil received, in pursuance of the realization of the objectives of this Agreement.

CLAUSE 2: QUANTITY.
2.1 The total contractual quantity of the commodity sold and purchased under this Agreement is 2,000,000(BBL) or more, as required and affordable by Buyer, with a variation of +/-10% (plus/minus ten percent). Without prejudice to the Foregoing, the Buyer shall accept any additional shipment/delivery of product should Availability of products sustains such additional consignment.





CLAUSE 3: DELIVERY TERMS.
3.1 The contracted quantity is 2 ,000,000 BARREL +/-10% (plus/minus ten percent) per Shipment at Buyer’s option.
3.2 The delivery scheduled, commencing as quickly as possible upon mutual agreement Between the Buyer and the Seller.

CLAUSE 4: TIME PERIOD.
4.1 The duration of this contract is 7 days for shipments of each 2,000,000 BBL per vessel,
+/-10%, unless extended by an agreement by both parties.

4.2 This contract, as desired, is for a period of 12 months, with possible rolls and extensions.

4.3 Lifting shall commence in less than 10 (Ten) calendar days of execution of this contract and placement of banking instruments in favor of the Seller. (Vessel is already loaded.)

CLAUSE 5: QUALITY
The Seller guarantees that the quality of the product sold will conform to the guaranteed Specifications of NNPC Bonny Light Crude Oil, as noted in Appendix “A” of this Agreement.

CLAUSE 6: PRICE
A. 6.1.The price of each barrel of Bonny Light Crude Oil loaded into vessel shall be “Dated
Brent” on the date of Bill of lading, as published by McGraw Hill Market-wire, less a
Gross discount of $10.00 per bbl,
Net to the Buyer $6.00 per bbl

B. PRICE DEFINED:
Gross: $10.00 per bbl
Net to Seller: $6.00 bbl.
Buyer’s Agent/Facilitators $2.00c Per bbl ####### ( 33.3 % available )
Seller’s Agent / Facilitators: $2.00 Per Barrel , ####### Closed
6.2. The price referred to throughout this Agreement is to be paid in United State Currency($) and is fixed for the duration of this Agreement.

CLAUSE 7: PAYMENT:
7.1. In United State currency ($ per barrel by confirmed, MT799 (BLOCK FUND) LC or buyer’S MT700 or MT760 from a prime World Bank in favor of the Seller, made Mature for payment within 24 (Twenty four) hours, after effective loading of Vessel after final Q/Q result at Nigerian water Cash payment shall be made by the Buyer by Swift Wire Transfer KTT directly to all Nominated bank accounts in the sums stipulated. All cash payments are simultaneous.

7.2 Payment shall be the full amount in United State Currency, corresponding to the total value of each Shipments nominated quantity.

7.3. Quantity, as assessed at the point of loading, and price as determined as per the
Agreement will be used to complete the Seller’s invoice.

7.4 The value of the BLOCK FUND (MT799) shall be determined by the price and quantity of the shipment.
7.5 The Seller and Buyer each shall be responsible for their bank charges.



8 . OUR FOB TRANSACTION PROCEDURES:


1) Buyer and seller signs contract with all banking details within contract submitted to respective bankers and same contract content remains enforceable and binding to both parties
2) Buyer gives seller its CPA, Q88 & ATL for seller’s ratification so that when seller is sure that vessel is not notoriously circulated all over the place advise terminal to send NOR to the Master of the vessel notifying it of its readiness to load her from the NNPC loading export bay as soon as its in possession of buyer’s Payment instrument as advised by seller.
3) On receipt of the terminal’s NOR buyer would do MT799 of $60m and $140m respectively and copies made available as agreed on contract so that documentation process would commence.
4) On receipt and confirmation of the agreed MT799 in its form, sellers would do in favor of buyer and its vessel a clearance which enables vessel to sail in and would be directed to safety for loading at the export loading point, on receipt of the clearance the vessel would moves to point of loading as directed by the terminal.
5) The vessel is programme for loading and evidence of such programme made available before vessel alongside for loading. On sucessesful confirmation of vessel programme for loading vessel position for loading.
6) After successful loading shipping documents are collated endorsed and registered in NNPC CRUDE OIL MARKETING DIVISION at Abuja for buyer’s confirmation
7) Seller goes ahead to do CERTIFICATE of OWNERSHIP in buyer’s name as legitimate owner of cargo on board the vessel also made confirmable at NNPC office Abuja. Customs outward clearance is also made in favor of the vessel and buyer so as to enable vessel sails out of Nigeria water safely after full payment for cargo on board the vessel after Q/Q
8 ) On completion of documentation process buyer nominates sgs to officially go onboard the vessel for Q/Q inspection and on completion buyer pays for cargo value based on outturn received by vessel master and as confirm by inspection company whose result is binding on both seller and buyer respectively
9) On confirmation of payment by seller’s bank vessel allowed to sail out to buyer’s POD without any embarrassment or delay


8. CLAUSE 9: DELIVERY
9.1. The Seller warrants performing delivery of the transacted commodity on FOB only
9.2. In accordance with the set out conditions and provisions herein, the Seller and the Buyer
Hereby acknowledge covenant that the delivery of the loaded shipment shall be 2,000,000
bbls, plus or minus 10%.

CLAUSE 10: INSPECTION – QUANTITY & QUALITY DETERMINATION.
10.1. The Parties mutually agree that an internationally recognized first class Independent Surveyor Company shall be appointed at the designated FOB point to assess the quality and Quantity of the cargo according to the provisions herein stated. The Buyer will pay the Inspection fee as per the surveyor’s invoice.
10.2. Quantity and quality assessments, conducted by the appointed Surveyor Company Shall be in accordance with methods and procedure usually used in the oil industry practice and shall at all times strictly comply with the revised ASTM/IP International Standards and Procedures in force, on the date of compliance.
10.3. The quality of each shipment of oil shall be assessed by the surveyor at the loading
Port on completion of the loading operation on the basis of shore figures. This assessed
Quantity shall be used for computing the amount to be paid to the seller, applying the price
as per Annex” A” “Payment Terms” in the contract.



10.4. Sampling of cargo for Quantity and Quality shall be carried out as mutually agreed by
both Buyer and the Seller, in accordance with ASRM (10) standard.

CLAUSE 11: APPLICABLE LAW
The English law shall govern all matters relating to the validity, interpretation or
Performance of the Agreement.

CLAUSE 12: BREACHES
Notwithstanding Clause 13 herein, in case of failure of the seller or the buyer to comply with any of the obligations set forth in The Agreement, aid non-compliance shall entitle the other Party, without prejudice to any other recourse(s) available to them to consider such failure as a breach of this contract and to terminate the same, or to unilaterally suspend its Performance until such failure is corrected, and in both cases, may claim direct damages for the breach of this contract, to the extent allowed by the terms and conditions of the Agreement

CLAUSE 13: ARBITRATION
All Disputes arising in connection with The Agreement shall firstly be settled amicably. Should no agreement be reached by the Parties, then the case shall be brought for final Settlement under the rules of conciliation and Arbitration of the international Chamber of Commerce London, England In the event of Arbitration each party shall appoint one Arbitrator with a third appointed by an independent party. Nothing in the Agreement shall be construed to prevent any Court having jurisdiction from issuing injunctions, attachment Orders or orders for other similar relief in aid of any arbitration commenced (or to be Commenced) pursuant to this section. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction hereof. Neither Party shall fail to comply in a timely way with the obligations of this part to be performed in pursuance to the Agreement although a dispute has arisen and Proceeded to arbitration, Findings as assessed by arbitration will be final and binding on both parties, without any possibility of recourse.

CLAUSE 14: SPECIAL CONDITIONS
The parties having exerted and continue to exert their best effort to avoid any action which Might be in any manner detrimental to the interest of either party in the negotiation, Execution and performance of the Agreement the Parties hereby agree that any conditions That might arise which are not specifically stated in the agreement will be referred to the General rules of the ICC INCOTERMS, Edition 2000 with latest amendments, the delivery Schedule must include the dates of shipments, name of the vessel and the quantity of the Commodity to be loaded

CLAUSE 15 DOCUMENTS
Documents to be provided by the seller to the buyer who signs or sends mail to acknowledge receipt of them, are as follows, among others:.
b. I) CPA AND Q88 of Vessel.
ii) Bill of lading
iii) Commercial invoice from seller
iv) Certificate of Quantity
v) Certificate of Quality
vi) Cargo inspection result
vii) Certificate of origin
viii)Tanker time sheet
ix) Cargo Manifest
x) Master receipt of product,etc.
XI) Certificate of Ownership
xii) Customs out wards clearance
xiii) programming documents for confirmation



CLAUSE 16: DEFICIENCIES.
If the amount paid under the MT799 is less than the total
Price shown on seller’s commercial invoice presented to the Buyer’s bank the Buyer shall pay
Seller immediately on demand any such amount herein that are outstanding by drawn Bank
MT103 at final inspection result made by SGS at Nigeria water.

CLAUSE 17: RISK OF TITLE.
Delivery shall be deemed completed and title or Cargo shall pass to the Buyer immediately after tanker-to-tanker loading and vessels are disengaged. At this point, the seller’s Responsibility shall cease and the Buyer shall assume all risk of losses.

CLAUSE 18: FORCE MAJEURE
Neither party of this contract shall be responsible for breach of contract caused by acts of GOD, insurrection civil war and military operations, national or local emergencies The parties hereby accept the international provision of force marjeure and hardships Published by International Chamber of Commerce (ICC)

CLAUSE 19 PARTIES’ LEGAL ADDRESSES

SELLER: Available
Representative: XXXXXXXXXXXX
Address : XXXXXXXXXXXXXXXXXX
Designation: Chairman/CEO


BUYER:
Representative:
Address:
Designation:
Email address:

CLAUSE 20 AUTHORITIES TO EXECUTE THIS CONTRACT:
Each of the parties hereto has full corporate legal authority to execute this contract and accordingly, by fully bound by the terms and conditions therein. INCOTERMS 200 rules the Contract and EDT (Electronic Document Transmission) is legally binding. The Terms shall Apply and be deemed to be valid and enforceable by either party and be in a position to Request a hard copy of the Contract of any previous electronically transmitted copy.

CLAUSE 21: INDEMNITY
Seller expressly declares and warrants that all products sold and delivered to the Buyer under
This Agreement is free from all encumbrances, and not derived from illegal/Criminal Source.

CLAUSE 22 NOTICES
The parties hereby agree that except otherwise notified, all notices, designations and Communications between that parties under this sales Agreement shall be in writing, and Shall be delivered in person (through an internationally recognized courier service such as Federal Express or DHL) by telex, or facsimile (provided the original thereof is promptly Delivered in person as above provided), in the following manner


CLAUSE 23: AMENDMENTS AND WAIVERS
23.1 The Agreement shall not be amended or modified or any provision thereof waived
Except in writing and accepted by both parties
23.2 Any provision of this Agreement which is declared unlawful or unenforceable by Court
Of competent jurisdiction, shall not affect any other provision herein.

CLAUSE 24: NON-CIRCUMVENTION AND NON-DISCLOSURE
Both parties agree not to circumvent each other and to abide by the standards of
International Chamber of Commerce (ICC) regarding Non-circumvention and
Non-Disclosure

CLAUSE 25: ASSIGNMENTS
25.1 The seller/Buyer may, at any time, assign this Crude oil Supply Contract in total or in
Portions thereof to any other Company, which can adequately assume the financial
requirements and obligations of the Seller/Buyer, under the terms of the assignment

25.2 A formal Notice of the Assignment shall be submitted to the Buyer/Seller, which will
Contain the Assignee’s Company Name, Company Address and Company spokesperson/
Official to contact and their telephone and tell/fax numbers.

CLAUSE 26: CONCLUSIONS AND DECLARATION.

IN WITNESS WHEREOF, the parties have understood all of the terms and conditions of This sales agreement and are hereby agreed to honor all clauses with the privileges, right and Immunities pertained therein, making this sales/purchase Agreement effective on and as of The effective date upon signing by all parties This Agreement is executed in multiple counterparts. Facsimile copies of the signed Sales/ Purchase Agreement are hereby accepted as originals and will be deemed to be called and Effective for all purposes, the parties will distribute the original copies amongst themselves promptly. The Agreement is compiled in three(3)originals of 12(twelve) pages, plus 1 (Product Description – Bonny Light Crude, totaling 13 (thirteen) pages.The parties agree that the Signed and stamped Electronic Data Transfer copies of This Agreement will be in full force and effect until hard copies can be exchanged.


Text MT 799
SWIFT MT 799 APPROVED FORMAT


SENDING BANK:

BANK NAME:
ADDRESS:
SWIFT CODE: XXXXXXX
ACCOUNT NUMBER: XXXXXXX
ACCOUNT NAME: XXXXXXX
APPLICANT:
ISSUE DATE:
MATURITY DATE:
AMOUNT: $000,000.000.00 (xxxxxxxxxxxxxx MILLION DOLLARS)

RECEIVING BANK

Correspondent Bank to receive the instrument

BANK NAME :

ACCOUNT NAME :

ACCOUNTNO :

SWIFT CODE :

FUTHER CREDIT TO:

BANK NAME :

BANK ADDRESS :

ACCOUNT NAME :

BENEFICIAL NAME :

BENEFICIAL ADDRESS :

ACCOUNT NO :

SWIFT CODE :

BANK TEL :
MOBIL NR:

BANK OFFICER :

Bank Officer email :

WE, ………… BANK, HAVING AN ADDRESS AT ……………………………………. CORRESPONDENCE
OFFICE:…………………………………………..HEREBY CONFIRM WITH FULL BANK RESPONSIBILITY AND
LIABILITY THAT OUR CLIENT…………………………………….. HAS ON DEPOSITS WITH OUR BANK
THE SUM OF USD $000,000,000 (xxxxxxxxxxxxxxxxxxxxxxxx MILLION UNITED
STATES DOLLARS).

THESE FUNDS ARE CLEAN, CLEARED, OF NON-CRIMINAL ORIGIN AND ARE FREE OF ANY
LIENS AND ENCUMBRANCES AND ARE AVAILABLE TO THE CLIENT WITHOUT ANY
RESTRICTIONS.

FURTHER THIS LETTER CONFIRMS THAT WE HAVE PLACED AN ADMINISTRATIVE BLOCK
ON THESE FUNDS IN FAVOUR OF ………………………….. FOR A PERIOD OF Ninety BANKING
days (90 DAYS) AND THE FUNDS WILL REMAIN UNENCUMBERED DURING THIS PERIOD.

THIS INSTRUMENT IS TRANSFERABLE, ASSIGNABLE, UNCONDITIONAL, VERIFIABLE &
CONFIRMABLE BY RESPONSIBLE BANK INQUIRY, VIA SWIFT ONLY.

THIS IS AN OPERATIVE BANK INSTRUMENT AND IS SUBJECT TO THE UNIFORM CUSTOM
AND PRACTICE (1993 REVISION) UNDER INTERNATIONAL CHAMBER OF COMMERCE
PUBLICATION NUMBER
500/600 AS IT PERTAINS TO SUCH CREDITS.
FOR AND ON BEHALF OF,
THE ISSUER:
(BANK OFFICER: --------------------, PIN NO:..................)

(BANK OFFICER ---------------------, PIN No:----------------
******
PLEASE NOTE THAT THE RECEIVING BANK NEED THE FOLLOWING 3 DOCUMENTS AFTER
THE SWİFT OF THE MT 799 IS DONE for fast CONFIRMATION.

1. COPY OF THE SWİFT MT 799 FROM THE İSSUİNG BANK WITH THE BANK OFFICER
SIGNATURE, STAMP, PIN CODE ON THE COPY OF THE SWIFT AS CONFIRMATION THAT
THE SWIFT WAS DONE BY THE BANK.

2. COPY OF THE MT 011 : Proof of Delivery of Swift to Receiving Bank

3. COPY OF THE SCREEN SHOTS
THIS INFORMATİON İS NEEDED IMMEDIATELY AFTER THE SWİFT IS SEND OUT BY THE
BUYER BANK. THE BUYER SHOULD SEND IT TO US FOR ONWARD FORWARDING TO THE
RECEIVING BANK ACCOUNT OFFİCER FOR CONFIRMATION OF RECEIPT.

sunny petroleumproducts@outlook.com

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