QUANTITY: 2 MILLION BARRELS
TRANSACTION: TTO
INSTRUMENTS: BG/ BEC/ LIEN
PRICE: #120/4
Bonny light Crude Oil TTO Procedure
Bonny Light Crude Oil Instruments: BANK ENDORSE CHEQUE (BEC) TTO DELIVERY FOR 2, MILLION BARRELS OF BONNY LIGHT CRUDE OIL LOADED VESSEL NOMINATION & SPOT BOARDING AT LAGOS- NIGERIA WATERS FOR Q/Q INSPECTION.*
*LIST OF CARGO DOCUMENTS TO BE ISSUED BY NNPCL BONNY TERMINAL FOR VESSEL NOMINATION & SPOT BOARDING:*
=NNPCL Vessel Nomination Letter.
=NNPCL Authority To Sell (ATS).
=Certificate Of Origin.
=Bill Of Laden.
=Certificate Of Quality.
=Tanker Ullage Report.
=Cargo Manifest.
=Marine Authority To Board (MATB).
=NNPCL Terminal Clearance.
*INSTRUMENTS NEEDED:*
=Bank Endorse Cheque (BEC) Of N3, Billion Naira.
=Lien/Block or Post No Debit (PND) Of N1, Billion Naira.
=Bank Guarantee (BG) Of N500, Million Naira.
=Cash Logistics Of N40, Million Naira.
*PRICE & DISCOUNT:*
$12-4 OR N120-4.
VESSEL: TBN/TBA.
PRODUCT: BONNY LIGHT CRUDE OIL
ORIGIN: NIGERIA
SPEC: NNPCL EXPORT.
TERMS: TTO
AGENT: ACCREDITED.
QUANTITY: 2-10, MILLION BARRELS AS PER WEEKLY OR MONTHLY SHIPMENT.
*NOMINATED & APPROVED TANKER TAKE OVER (TTO) DELIVERY PROCEDURES AS FOLLOWS:*
1). SELLER ISSUE PRE-SIGNED CONTRACT AGREEMENT/ SPA TO BUYER FOR ENDORSEMENT.
2). BUYER SIGNED SELLER CONTRACT AGREEMENT SEALED WITH FULL BANKING COORDINATES OF BOTH PARTIES AND THEIR AGENTS, INCLUDING THE BANKING ACCOUNTS COORDINATES/ DETAILS TO ISSUE *BANK ENDORSE CHEQUE (BEC) OF N3, BILLION NAIRA FOR NNPCL VESSEL NOMINATION AND SPOT BOARDING* AT LAGOS-NIGERIAN WATERS FOR Q/Q INSPECTION.
3). BUYER RETURN DULY SIGNED CONTRACT/SPA ATTACHED WITH THE FOLLOWING REQUIREMENTS AS STATED BELOW TO SELLER
*A). MATB FORMAT.*
*B). NNPCL ACCREDITED SUPERCARGO/ INSPECTOR INTERNATIONAL PASSPORT DATA PAGE.*
4). SELLER ACKNOWLEDGE RECEIPT OF DULY SIGNED CONTRACT AGREEMENT/SPA AND ISSUES NOMINATED ACCOUNT DETAILS/ VERBIAGE TO RECEIVE *BANK ENDORSE CHEQUE (BEC) OF N3, BILLION NAIRA* TO BUYER.
5). BUYER’S BANK WITHIN 48 HOURS ISSUES *BANK ENDORSE CHEQUE (BEC) OF N3, BILLION NAIRA* WITH VALIDITY OF 90 DAYS FROM A COMMERCIAL BANK HEREIN NIGERIA AND SEND COPY VIA SECURED BANK TO BANK EMAIL IN FAVOUR OF SELLER’S NOMINATED BANK ATTACHED WITH A BANK CONFIRMATION LETTER AND COPY SELLER AS LOGISTICS INSTRUMENT FOR CONFIRMATION WITH THE ISSUING BANK.
6). SELLER’S NOMINATED BANK CONFIRMS RECEIPT OF *BUYER’S LOGISTICS INSTRUMENT* AND ADVISE SELLER TO PROCEED WITH THE TRANSACTION AND SELLER ISSUES CONTRACT CONFIRMATION/ACKNOWLEDGMENT LETTER TO BUYER.
7). SELLER/ NNPCL BONNY TERMINAL NOMINATE OR ASSIGN AN EXCLUSIVE LOADED VESSEL CARRYING THE BUYER’S REQUESTED QUANTITY OF PRODUCT ONBOARD AND ISSUES THE FOLLOWING LISTED CARGO DOCUMENTS IN FAVOUR OF THE BUYER’S NAME AS CONSIGNEE.
*A). NNPCL VESSEL NOMINATION LETTER.*
*B). NNPCL AUTHORITY TO SELL (ATS).*
*C). CERTIFICATE OF ORIGIN.*
*D). BILL OF LADEN.*
*E). CERTIFICATE OF QUALITY.*
*F). TANKER ULLAGE REPORT.*
*G). CARGO MANIFEST.*
*H). CERTIFICATE OF QUANTITY.* WHILE THE BUYER ISSUES ACKNOWLEDGMENT TO SELLER/ NNPCL BONNY TERMINAL.
*PENALTY CLAUSE AGAINST NON-BOARDING:* AFTER THE RECEIPT CARGO DOCUMENTS IN FAVOUR OF THE BUYER’S NAME AS THE CONSIGNEE BY NNPCL BONNY TERMINAL AND MARINE AUTHORITY TO BOARD (MATB)/ NNPCL TERMINAL CLEARANCE BY THE SELLER’S/ NNPCL BONNY TERMINAL VESSEL CAPTAIN. IF THE BUYER’S SUPERCARGO/ INSPECTOR ARE NOT IN PLACE OR IF FOR ANY REASON FAILS TO BOARD THE SELLER’S VESSEL TO CARRY OUT QUANTITY AND QUALITY (Q/Q) INSPECTION AS AGREED, WE SHALL NOT BE HELD LIABLE OR DEFAULTED DUE TO THE BUYER’S INSPECTION AGENT INABILITY TO BOARD THE SELLER’S/ NNPCL BONNY TERMINAL NOMINATED VESSEL.
8). SELLER/ NNPCL BONNY TERMINAL THROUGH THE VESSEL CAPTAIN EMAIL DOMAIN ISSUES *MARINE AUTHORITY TO BOARD (MATB) AND NNPCL TERMINAL CLEARANCE* TO THE BUYER’S SUPERCARGO/ INSPECTOR, WHILE THE BUYER ISSUES ACKNOWLEDGMENT TO SELLER/ NNPCL BONNY TERMINAL VESSEL CAPTAIN.
9). SELLER/ NNPCL BONNY TERMINAL BOARDING CREW WITHIN 48 HOURS TAKES BUYER’S SUPERCARGO/ INSPECTOR ONBOARD THE LOADED VESSEL AT LAGOS-NIGERIAN WATERS TO CARRY OUT QUANTITY AND QUALITY INSPECTION AT THE SELLER’S EXPENSE.
*PENALTY CLAUSE AGAINST NON- PAYMENT OF CARGO DOCUMENTATION FEE* AFTER THE RECEIPT OF CAPTAIN ATTESTATION LETTER AND PRODUCT SAMPLE BY THE BUYER’S INSPECTOR, IF FOR ANY REASON THE BUYER FAILS TO EFFECT PAYMENT OF $1, MILLION (US) DOLLARS INTO THE SELLER’S NOMINATED ACCOUNT AS CARGO DOCUMENTATION FEE WITHIN 48 HOURS, WE SHALL CONSIDER THIS ACT AS BREACH OF THIS CONTRACT AGREEMENT AND WE SHALL TERMINATE THE TRANSACTION.
10). SELLER/ NNPCL BONNY TERMINAL THROUGH THE VESSEL
CAPTAIN EMAIL DOMAIN ISSUES *ATTESTATION LETTER DULY COUNTER SIGNED BY THE BUYER’S SUPERCARGO ONBOARD TO THE BOTH PARTIES,* THE BUYER ISSUES ACKNOWLEDGMENT TO SELLER/ NNPCL BONNY TERMINAL VESSEL CAPTAIN.
11). SELLER/ NNPCL BONNY TERMINAL BOARDING CREW WITHIN 24 HOURS DISEMBARK BUYER’S INSPECTOR FROM THE LOADED VESSEL WITH PRODUCT SAMPLE FOR QUANTITY AND QUALITY ANALYSIS REPORT AND THE VESSEL CAPTAIN ISSUES *INSPECTOR DISEMBARKING LETTER* TO THE BOTH PARTIES WITH THE BUYER’S SUPERCARGO ONBOARD.
12). SELLER ISSUES *COMMERCIAL INVOICE (CI)* TO THE BUYER’S AND THE BUYER’S NOMINATED BANK WITHIN 48 HOURS TRANSFERS THE REQUIRED CARGO DOCUMENTATION FEE OF $1, MILLION (US) DOLLARS INTO THE SELLER’S NOMINATED ACCOUNT WITH THE BUYER’S SUPERCARGO ONBOARD, WHILE SELLER ISSUES ACKNOWLEDGMENT TO THE BUYER.
13). BUYER INSPECTOR WITHIN 72 HOURS OF SUCCESSFUL INSPECTION, SENDS QUANTITY AND QUALITY (Q/Q) ANALYSIS INSPECTION REPORT TO THE BOTH PARTIES AND SENDS COPY NNPCL BONNY TERMINAL FOR CONFIRMATION, WHILE THE BUYER’S SUPERCARGO REMAINS ONBOARD THE SELLER/ NNPCL BONNY TERMINAL LOADED VESSEL.
14). SELLER/ NNPCL BONNY TERMINAL ISSUES *CARGO DOCUMENTS IN FAVOUR OF BUYER’S BUYER’S NAME AS THE CONSIGNEE THROUGH NNPCL BONNY TERMINAL OFFICIAL EMAIL,* WHILE THE BUYER ISSUES ACKNOWLEDGMENT LETTER TO SELLER/ NNPCL BONNY TERMINAL WITH THE BUYER’S SUPERCARGO ONBOARD.
15). BUYER’S BANK WITHIN 72 PLACE INSTRUMENT VIA SWIFT MT-103 FOR THE TOTAL CARGO IN FAVOUR OF SELLER/ NNPCL BONNY TERMINAL NOMINATED ACCOUNT, WHILE THE BUYER’S SUPERCARGO REMAINS ONBOARD THE LOADED VESSEL.
16). SELLER/ NNPCL BONNY TERMINAL CONFIRMS BUYER’S INSTRUMENT AND INTRODUCES BUYER TO THE VESSEL HANDLERS OR VESSEL HOME OFFICE FOR TANKER TAKE OVER AND THE BUYER PAYS THE COST OF RE-CHARTER OF THE VESSEL, WHILE THE BUYER’S SUPERCARGO REMAINS ONBOARD THE SELLER/ NNPCL BONNY TERMINAL LOADED VESSEL.
17). BUYER’S BANK WITHIN 48 HOURS EFFECTS FINAL PAYMENT OF THE TOTAL CARGO INTO SELLER/ NNPCL BONNY TERMINAL NOMINATED ACCOUNT LESS CARGO DOCUMENTATION FEE AND ALL COMMISSION AGENTS ARE PAID ACCORDINGLY, WHILE THE BUYER’S SUPERCARGO REMAINS ONBOARD THE SELLER/ NNPC LOADED VESSEL.
18). SELLER/ NNPCL BONNY TERMINAL CONFIRMS ALL PAYMENTS INCLUDING THE COMMISSION AGENTS ON THE IMFPA AND RELEASES ORIGINAL CARGO DOCUMENTS INCLUDING WARRANTY OF TITLE (WOT) TO BUYER AS THE CONSIGNEE IN HARD COPIES AND THE BUYER ISSUES ACKNOWLEDGMENT TO SELLER/NNPC BONNY TERMINAL.
19). SELLER/ NNPCL BONNY TERMINAL WITHIN 24 HOURS CONFIRM PAYMENT OF FUNDS FOR VESSEL RE-CHARTER AND INSTRUCT VESSEL CAPTAIN TO SET SAILS TO THE BUYER’S PORT OF DISCHARGE AND SELLER AND BUYER SHAKE HANDS AND DEPART TO THEIR SAFE PLACES. BONNY LIGHT CRUDE OIL TRANSACTION CONCLUDED.
https://fundz.marinaz.app for Instruments used in trading Bonny Light Crude Oil.
Comments