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SPECIAL CHINESE FINANCE OPTIONS

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SPECIAL CHINESE FINANCE OPTIONS Empty SPECIAL CHINESE FINANCE OPTIONS

Post  Admin Tue May 31, 2022 6:19 pm

SPECIAL CHINESE FINANCE OPTIONS
LOADED VESSEL PROCEDURE
PAYMENT SOLUTIONS FOR BLCO - OPTIONS APPLY TO LOADED VESSELS ON THE WATER WHICH ARE
NOT SPECIFICALLY PROGRAMED FOR ANOTHER BUYER.
1)
• NNPC can accept the Bank's Acceptance Bill-银行承兑汇票
• Bank's Acceptance Bill 银行承兑汇票: 分 一年期,半年期,三个月 为 一 年 期 , 半 年 期 , 三 个 月
• Maturity may be one year, half year, or three months, Buyer's option..
• EXPLANATION: This is a bank check which can not be drawn upon until the maturity date.
Once received into the financier's bank, funding will be provided to pay the delivery and documentation
fees. It is somewhat like selling against blocked funds. Approved by the NNPC.
2)
• Chinese Local BG/SBLC with RMB for the total cargo value. Please request verbiage required.
• Buyer may submit their verbiage for review.
3)
• DLC with RED CLAUSE;
RED CLAUSE: 30 percent of L/C face value shall be paid upon receipt of this letter of credit, 70 percent of
the L/C amount shall be paid upon receipt of the credit conform documents. Please advise us of the
remittence of the documents by MT 754 MSG. quoting our referrence number.
4)
CASH DEPOSIT WITH OUR RECEIVING BANK GUARANTEE SECURITY (CASH BP)
• EXPLANATION: This is an Escrow option - money is legally protected.
5)
• This is a factor company. They do partial funding against a commercial invoice. Details to follow.
• CHINA OCEAN SHIPPING AGENCY CO. LTD(QINGDAO) CAN fund the transaction logistics fees.
• NNPC nominated shipping agent assists with banking.
• BANKING COORDINATE:
BANK OF CHINA QINGDAO BRANCH
SWIFT CODE : BKCHCNBJ50A
ACCT NO.(USD) : TBA (RMB) : TBA
BANK'S ADDRESS : NO.59 HONGKONG MID.ROAD,QINGDAO,CHINA
IN FAVOUR OF : CHINA OCEAN SHIPPING AGENCY CO. LTD(QINGDAO)
WEBSITE: http://www.penavicoqd.com/web/Net_Index.aspx?pagestr=BLSearch
Once any of the five above is done and confirmed, then we can nominate cargo for delivery within China
water or vessels on voyage to China.
Buyer may discuss the financing options with our Chinese financial expert.
DELIVERY PROCEDURE
1.Buyer sends official LOI and CIS to the seller via Nigerian Oil Services, which includes one of the five above
options at:  
2.Buyer and Seller sign and seal this Contract including banking coordinates. The electronic signed copy by
both parties is considered legally binding and enforceable and must not be changed. The executed SPA and is
lodged in their respective banks. Buyer returns dully signed SPA with ICPO ATB FORMAT AND INTERTEK OR SGS
INSPECTOR DETAILS.
3. Buyer's bank provides the chosen banking commitment which is confirmed by the finance department.
4. Seller nominates the vessel which is already pregnant and issues:
1. Clean Ocean Bill of Lading
2. Seller's Commercial Invoice
3. Certificate of Origin issued by N.N.P.C
4. Certificate of Authenticity issued by NNPC
5. Cargo Manifest
6. Certificate of Quality
7. Certificate of Quantity
8. Master's Receipt for Samples
9. Master's Receipt for Documents
10. Tanker Ullage Report
11. N.N.P.C Authority to Sell (A.T.S)
12. Bank to receive SBLC and verbiages.
5. Buyers bank issues credit instrument chosen above (option #2 or 3) to seller bank for confirmation.
6.Seller issue ATB AND CLEARANCE to board buyers INTERTEK or SGS Inspector in Netherland. Buyers Inspector
comes down with samples!
8. On successful conclusion of Q&Q analysis, reports are distributed to both buyer and seller. Seller releases
commercial invoice as per Q & Q report. Buyer pays via MT103.72 conditional (upon discharge and documents)
9. Discharge into buyer’s storage commences.
10. Within 72 hours after product is discharged, buyer pays for crude as per the final report issued by
independent inspector at the port of discharge by seller drawing on the MT103 swift wire transfer directly into
seller’s authorized beneficiary bank account. Seller pays and outstanding seller fees.
11. SBLC remains in place for next available vessel nomination by the parties mutual concent.
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Buyer shall pay for each delivered lot by direct Bank wire transfer within 72 hours after receiving the following
documents:
1) Copy of the Certificate issued by Independent inspector confirming the Quality of the product
delivered.
2) Copy of the Certificate issued by Independent inspector confirming the Quantity of the product
delivered.
3) Original and 3 copies of Commercial Invoice.
4) Full set of 3 Originals and NON-NEGOTIABLE copies of Bill of Lading.
5) Original and 3 copies of Certificate of Quantity (at loading port)
6) Original and 3 copies of Certificate of Quality (at loading port)
7) Original and 3 copies of Certificate of Origin
Cool Original and 3 copies of Master receipt of Samples
9) Original ULLAGE report issued at Loading terminal
10) Authority to Sell (ATS)
11) Warranty of Title
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Notes : First tranche 2 million bbls. Maximum quantity per month 4M bbls.
: Price: Dated Brent less $7  
: BERTH CHARGES, DUTIES AND TAXES AT DISPORT: Buyer shall be responsible for all duties and
taxes levied on cargo by the authorities of the country of discharge.
: Both parties agree on Contract delivery laycans and next shipments proceeds according to agreed
lifting/delivery schedule which shall form part of the forward contract.
STANDARD BLCO PRODUCT SPECIFICATIONS:
Specific Gravity @600 deg. F: 0.8398
API Gravity @600 deg. F: 35.5 – 37
Water content by Distillation: 0.2% Vol. max.
BS&W (CENTRIFUGE) 0.06 - 0.2% Vol
Upper Pour Point: Below 400 deg. F
Sulphur Content Less than 0.14% (Volume)
Total Sulphur, wt% 0.14 max.
Reid Vapour Pressure 6.52 Psig
Salt Content (PTB) 6.52 Psig
Colour Dark Brown
Acid Number 0.39
Iron Wt. Ppm 1.00
13. Vanadium Wt. Ppm 2.00.
Nickel Wt. Ppm 4.00
Salinity P.T.B. at 0.10 % BS & W 47 max


https://www.worldtimebuddy.com/?pl=1&lid=524901,0,2643743,5110302,1816670,3067696,565348,4140963&h=524901&hf=1

Offer   2
*BLCO CHINA STORAGE TANK TRANSACTION. .*

QUANTITY: *2M BARRELS.*
DISCOUNT: 10/6 – Net $6 to buyer, $4 commission split $2 to buyer side and $2 to seller side


1. SELLER SIGNS SPA; AND FORWARDS TO THE BUYER, BUYER RETURN SIGNED SPA ALONG WITH HIS COMPLETED  CUSTOMER INFORMATION SHEET *(CIS)* SCAN COPY OF  INT'L PASSPORT DATA PAGE.

2. Buyer bank swift MT199 (from a prime bank) to seller's bank stating buyer's readiness to issue BG/SBLC/MT799 covering total cargo. (From a prime bank) 50 top banks.
3. Seller's fiduciary bank respond via swift MT199, indicating readiness to receive.
4. Buyer swift SBLC via MT760.
5. On confirmation of buyer's SBLC, seller via NNPC Bonny Terminal will issue DTA/WTO to the buyer to have face to face  meeting with  NNPC BONNY TERMINAL DEPOT  MANAGER IN CHINA to arrange & fix a date for DIP TEST.  
6.DIP TEST conducted at the scheduled date NNPC depot Mgr provides custom endorsed storage tank receipt to buyer.

7. Upon successful DIP TEST...seller release soft copy of document to buyer. Buyer effect payment via MT103/TT transfer.
8. NNPC ISSUE CERTIFICATE OF OWNERSHIP to buyer.
9. Buyer take over storage tank and arrange for loading.




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