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BLCO TTO – USA
MT ZENITH SPIRIT
Call Sign: C6WZ7
Flag: Bahamas [BS]
QUANTITY: 1, 000,000 BBLS
FIRST COME FIRST SERVED!
TTO – USA – PROCEDURE:
- 1. BUYER AND NNPC JV/SELLER SIGN AND SEAL THIS CONTRACT INCLUDING BANKING COORDINATES AND EXCHANGE THE SIGNED COPY BY ELECTRONIC MAIL. THE ELECTRONIC SIGNED COPY BY BOTH PARTIES IS CONSIDERED LEGALLY BINDING AND ENFORCEABLE.
– Buyer returning the signed SPA also sends LOI addressed to Chief Superintendent of NNPC Bonny Terminal/ CO Seller
– In the LOI, Buyer request that NNPC to confirm, vessel Name, IMO ; also that Seller can conduct the transaction, as well as a USA based fiduciary Bank Account for RWA
– NNPC Bonny Terminal will send the letter, in his letterhead directly to Buyer’s email and his Banker’s email, not through brokers.
- BUYER BANK issues RWA by SWIFT TO NNPC NOMINATED FIDUCIARY ACCOUNT.
- SELLER CONFIRMS RWA AND NNPC RE-ASSIGNS THE CARGO DOCUMENTS IN BUYER NAMES SUCH AS:
- • Certificate of Origin issued by NNPC
- • Certificate of Authenticity issued by NNPC
- • Authority to Sell (ATS) from NNPC.
- • Performance Guarantee letter to Buyer
- • Allocation/Confirmation proof of product
- • ANY OTHER DOCUMENTS TO EVIDENCE PROOF OF PRODUCT
ALL DOCUMENTS BE IN BUYER NAME.
- BUYER RECEIVE THE CARGO DOCUMENTS AND PAYS LOGISTICS FEES OF $500,000.00
- NNPC CONFIRMS THE RECEIPT OF THE LOGISTICS FEES, VESSELS IS REDIRECTED TO THE BUYER’S POD.
- UPON SUCCESSFUL AT NNPC VESSEL AND Q&Q AND REPORT ISSUED BY SGS INSPECTORS, WHICH IS RELEASED TO BOTH THE BUYER AND NNPC, CAPTAIN TRANSSHIPS TO THE BUYER STORAGE FACILITY AND ALL RELEVANT DOCUMENTS SHALL BE PRESENTED BY THE NNPC AFTER SUCCESSFUL TRANSSHIPMENT TO BUYER STORAGE MANAGER.
- BUYER MAKE PAYMENTS BY MT103 OR SWIFT WIRE TRANSFER DIRECTLY TO THE NNPC NOMINATED BANK ACCOUNTS WITHIN FIVE (5) INTERNATIONAL BANKING DAYS AFTER CARGO DISCHARGED AND NNPC RELEASES THE FINAL SHIPPING DOCUMENTS (NON-NEGOTIABLE COPIES) TO BUYER.
- BUYER CAN ISSUE INSTRUMENT AND SIGNED 12 MONTHS CONTRACT
Seller’s side: $2 (Closed)
Buyer’s side: $2 ($1.75 opened)
IF BUYER AGREES WITH THIS PROCEDURE, REQUEST SPA FROM: