Offer Details

Enquiry No. : B-124914 Auckland (New Zealand)

Description :Offers of BLCO required from Genuine Sellers. Asking only Seller Mandates or Sellers to respond please.
Quantity:10,000.000 million barrels per month
Contract duration:12 months, with possible rolls
Quality: NNPC export standard
Delivery: CIF
Price:Based on unloading date at Port of Deliver after Q&Q
Discount: USD8.00 net pbbl.
Commission:Distributed evenly among Buyer and Seller Agents.
Payment: Irrevocable, non transferable, revolving DLC.
Inspection: SGS/Saybolt at Loading Port/Discharge Port.
CIF Procedure
1. Seller issues signed and sealed SPA contract draft for Buyer's review and response.
2. Buyer signs and seals the contract and returns same to Seller.
3. Both Seller and Buyer deposit contract with their respective Banks.
4. With all of the required documentation inclusive of contract and the Buyer's POD data with Tank Farm and on shore Tank Storage details, the Seller will have the keyboard terminal programmed and scheduled for the first lifting
5. Seller issues Full POP (SGS,Bill of Lading,CPA,ATS,othe shipping documents)in return for Buyer's Non Operative Revolving Documentary Letter of Credit (RDLC)for monthly shipment.
6. Seller issues 2% Performance Bond to activate DLC. DLC is operative for security only and will not be drawn down unless MT103 payment is not received in accordance with contract terms. All documentation will be deposited into the Trust Escrow Attorney's Bank account with bank instruments transferred to the account via SWIFT.
7. Seller issues a Pro Forma Invoice based on the price of the agreed discount deducted off the published daily Brent Platt and based on the Load Meter Reading.
8. Upon setting sail, Ship's Master will be instructed to send a Q88 to the POD, Buyer's POD, to the Buyer's contact and to the Seller.
9. The Ship's Master will repeat the sending or the Q88 update at three (3) days, two (2) days, one (1) day and then 12 hours out of the POD.
10. The payment process, to be completed via SWIFT MT103 Bank to Bank issued against the Commercial Invoice, will be initiated by the SWIFT MT 103 Pre Advice issued against the Pro Forma Invoice, in exchange for Title Transfer. The MT103 Pre Advice must be received by the Seller's bank and on deposit in the Trust Escrow Account within five (5) days after receipt of the Pro Forma Invoice.
11. Upon completion of each discharge there will be a new SGS report issued with the Q & Q of the out turned barrel (BBL) count which will be used to recalculate the Commercial Invoice Price for the payment due. This invoice will include copies of the discharge SGS report, all other discharge documents (as required), and Deed of Ownership if not provided earlier.
12. All payments will be made bank to bank to the Seller's nominated BANK. Upon completion of discharge, and with all documents and bank instruments on deposit in the Trust Escrow Account the MT 103 funds are released and documents transferred as required. Original copies of all documents will be transferred by bonded delivery service.