To Whom It May Concern; ATTENTION: END BUYER! Dear Sir, BONNY LIGHT CRUDE OIL: OFFER FOR SALES & PURCHASE AGREEMENT We have FULL CORPORATE RESPONSIBILITY, are ready,willing and able to sell Bonny Light Crude Oil to you or your Off takers/Buyers/Refineries, through our PRINCIPAL who is a Direct Allottee of NNPC Crude Oil verifiable at The Crude Oil Marketing Department, Abuja Nigeria. We have the capacity to provide pertinent information’s/documents as Proof of Product Allocation verifiable at the Crude Oil Marketing Department of NNPC for buyer’s independent due diligence and verification. However, we would need an Official Letter of Intent from the Direct Off taker/Refinery/Buyer to avail you our Principal’s Full Corporate Offer, alongside pertinent information’s for buyer’s independent verification. Seller’s Authorized Company Name,Office Address, E-mail, Website etc ; for Letter of Intent will be supplied as soon as we received the following information from you, as part of our due diligence and verification process: 1. Buying Company Name 2. Buying Company Address 3. Buying Company Website/E-mail Address. 4. Buying Company Name of Contact Person, Mobile Telephone Number & Office Telephone Number. Kindly confirm buyer’s expression of interest and willingness to prepare an Official Letter of Intent stating how many barrels of Bonny Light Crude Oil(Spot or Contract) you want to buy, Terms of Payment(at least in Conformity to Our PROCEDURE),Buyer’s Banking Co-ordinates, Contract Life Span(e.g. 5 Years with Possible Rolls & Extension) Company Seal, Authorized Signatures, etc.. Please find below our standard operation procedures for the following delivery terms: DELIVERY & PAYMENT PROCEDURES: FOB - FREE ON BOARD 1. Buyer sends official LOI to the seller 2. Seller issues contract (SPA) with FBC, FCO and Partial POP as to be designated in red text contained in page 1 of the contract. 3. After check and verification of Partial РОР, buyer & seller signs & seals the contract and exchange the signed copy by electronic mail; buyer shall return the said contract with an ICPO. The electronic signed copy by both parties shall be legally binding; though buyer may request for transfer the names and amounts of it to an original hard copy, which will be considered enforceable by law. (Any variant to be lodged in respective banks) 4. Buyer’s bank provides to the Seller’s bank the POF (MT799) sent via SWIFT or in the form of a BCL sent via mail directly to seller’s bank; such BCL dully signed and stamped by two (2) bank officers of potential buyer thus stating the possibility of said buyer to purchase the said NLCO. 5. After confirmation of the POF/BCL by the seller’s bank; seller’s bank issues full POP to the buyer’s bank. 6. Upon final confirmation of full POP, the buyer’s bank on behalf of the buyer and in favour of the seller; posts an Irrevocable Non-transferable Auto-revolving DLC/BG (MT103/23 or MT760) to the seller’s bank. Such DLC/BG must be opened and become transferable (MT103) after presentation of shipping and Q&Q inspection documents by the vessel captain of buyer’s nominated tanker. Upon receipt of the non-transferable DLC by seller’s bank, the seller initiates the following within seventy-two (72) hours (A). LOADING: This measure will also take place and all buyers have nominated vessel(s)’ particulars will be forwarded to the seller and buyer accordingly. (B). CPA: including Bill of Lading will also be supplied for verification on the buyer’s part. 7. Shipping documents are collected and presented to buyer via buyer’s bank to effect the cash payment. 8. The buyer pays for the Crude Oil as per the Final Q & Q Report after delivery of Crude Oil to Buyer’s Vessel (minus registration expenses) & all commissions as recorded in the NCNDA/IMFPA sub-section of the contract. 9. Payments are made by swift wire transfer directly to the seller’s authorized beneficiary agent nominated bank accounts and commission agents as stipulated in the IMFPA in such contract with product delivery to buyer’s vessel along with presentation of stated shipping documents (non-negotiable copies) at buyer’s bank. 10. The signatory of such contract for the buyer company, who appears in the same one, means to accept all his content as for Quantity, Discount and Procedures. Thus, the contract must consist of specified number of pages and all of them must be signed by both seller and buyer, in order to give faith of all its content and to agree as expressed in the contract. TTO – TANKER TAKE OVER 1. Buyer sends official LOI to the seller 2. Seller issues contract (SPA) with FBC, FCO and Partial POP as to be designated in red text contained in page 1 of the contract. 3. Buyer and Seller sign and seal contract (SPA) including banking coordinates and buyer shall return the said contract with an ICPO. 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 SPA with ATB format and Tugboat details. 4. Buyer’s Bank shall issue by swift to Seller’s/Fiduciary Bank, POF (MT799) (A copy of the swift shall be sent to the seller and furthermore to the concerned terminal). 5. The Seller shall instruct the Vessel Captain after receipt of ATB details from the Buyer to issue a confirmable marine ATB to the Buyer. 6. The Seller shall organize Logistics and Security clearance for Inspection officers and Supercargo to board the loaded vessel at agreed location thereafter conduct Q&Q analysis. 7. After satisfactory Inspection report, the Buyer issues via SWIFT an Irreversible, Confirmable, and Transferrable Letter of Credit (L/C) from a first class Western European or North American bank to the Seller’s bank and advanced transmission copy to Seller by e-mail for cross-verification with its bank, and the Seller shall assist the Buyer to re-charter the vessel through the vessel Handlers from Vessel Operators. 8. The Seller also shall assist to (a). Re-register and Re-document all required cargo and vessel particulars (warrant of title, Bill of Lading, etc.) as speculated in the documents clause of this contract. (b). Re-program the cargo on the shell screen or NNPC London (if OPEC allocation) for confirmation by buyer. 9. The Seller collects all documents including the invoice and submits to the Buyer and Buyer’s Bank. After confirmation of the documents, Buyer’s Bank pays for the total cost of the cargo by KTT swift within maximum of three (3) banking days. All commissions due to facilitators and brokers shall be paid at the same time and by the same method as for the Invoice paid to the seller. 10. Vessel then sails to Buyer’s destination. CIF – COST INSURANCE AND FREIGHT 1. Buyer sends official LOI to the seller 2. Seller issues contract (SPA) with FBC, FCO and Partial POP as to be designated in red text contained in page 1 of the contract 3. Buyer and Seller sign and seal the 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. 4. Buyer’s bank shall issue by swift to Seller’s/Fiduciary Bank a POF for the total cost of Cargo with ICPO from the buyer. 5. Seller loads vessel and gives to the Buyer all Loading Documents, Q88 and Captain’s name. Vessel’s captain will provide NOR to the Buyer to confirm the product. 6. Within three (3) business days of two (2) & three (3) above, The NNPC Joint Venture Operators (Terminal Administrator) authorizes Master of its loaded vessel to issue a full confirmed POP / NOR to Refinery discharge port facility. 7. The Harbor Master shall acknowledge the receipt of the NOR confirm from Captain of the vessel the issued NOR. The harbor Master shall send a confirmed POD to the vessel Captain for issuance of ETA after Q&Q Inspection report. (He shall do so in writing to the seller by email). 8. Buyer’s bank shall issue by swift wire transfer to Seller’s/Fiduciary Bank, a non-operative, confirmed and irrevocable instrument (DLC/BG) for the total cost of Cargo. 9. The Seller shall establish full communication and control between the Buyer and the Captain of the vessel. 10. The Seller shall prepare the Logistics, obtain security clearance and cause Vessel Master to proceed for Q&Q Inspection by any nominated independent inspector of the buyer at a preferred location. 11. The Captain of the vessel shall issue a confirmed ETA after a successful Q&Q report. 12. The terminal shall then; (a). Fully Re-register a confirmable allocation in Buyer’s name on Shell Screen and NNPC London (if OPEC allocation) (b). Register all documentation in Buyers name. Such documentation shall be confirmable at NNPC offices, Shell Screen. (The documentation shall include valid BOL, Warrant of Title, CPA, Insurance and SGS/Saybolt report. (c). Clear the vessel out of Nigeria waters and sail to buyer’s POD with required documentation within seven (7) to ten (10) days from the receipt of buyer’s Instrument. 13. Within 24hrs after berthing at POD, buyer’s Inspectors shall again carry out Q&Q Inspection of cargo before its discharge and issue the report to the Captain, Seller’s Bank and Buyer’s Bank. 14. The Seller shall collect all stipulated cargo / marine documents, Invoice and swift same to Buyer /Buyer’s Bank for payment. Buyer’s Bank shall within three (3) banking days after receipt of all the transaction documents as enumerated in the SPA, make SWIFT cash payments for cargo and commissions. TTT – TANKER TO TANKER TRANSSHIPMENT 1. Buyer sends official LOI to the seller 2. Seller issues SPA with FBC, FCO and Partial POP as to be designated in red text contained in page 1 of the contract. 3. 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, CPA, Q88, ATL and Chatterers Invoice. 4. Seller shall instruct Captain to issue NOR to Buyers Vessel, Buyers Captain receive NOR and reply with an ETA 5. Vessels long side for transshipment at agreed location. 6. Upon confirmation of the above Buyers bank issue a non-operative Letter of Credit (LC). 7. Sellers’ vessel discharge product into Buyer’s vessel. 8. Buyer’s Captain and Inspectors board the loaded vessel at agreed location to conduct Q&Q analysis. 9. Seller collects all documents including the invoice and submits to the Buyer and Buyer’s Bank. Upon documents confirmation, buyer’s bank pays for the total cost of cargo and commissions by KTT swift within 3 banking days. 10. Vessel sails to Buyer’s destination. OTHER PROCEDURES (INVOLVING PERFORMANCE BOND) 7.11 PROCEDURES (C.I.F) 7.11.1. Seller issues Sales Purchase Agreement. (S.P.A), Buyer signs and return with port of discharge and NOR detail. 7.11.2. Buyer’s bank issues Bank Comfort Letter (BCL) to sellers’ bank, assuring that upon receipt of pre-advise 2% P.B from sellers fiduciary bank (Inoperative), buyer shall SWIFT Bank Guarantee or Standby Letter of Credit. 7.11. 3. Seller pre-advise 2% in-operative P.B (Performance Bond). 7.11.4. Buyer issues SBLC/BG to activate 2% P.B to be operative. . **ANNEX B’’. 7.11.5. Seller nominate, Laycan (Programming), loads and commences movement of vessel to buyers discharge Port and avails buyer full set of loading documents. 7.11.6. Seller authorizes vessel captain to give Notice of Readiness (N.O.R/ETA) to buyers discharge Harbor/Tank. 7.11.7. Seller issues Authority to Board (ATB) to enable buyer’s independent inspector’s board for Quality and Quantity (Q&Q) analysis at agreed designated location. 7.11.8. On successful conclusion of Q&Q analysis, all original cargo documents shall be transferred to Buyers name. 7.11.9. Transshipment to buyers storage tank commences. 7.11.10. Payment for product and commissions is released to sellers nominated bank; 72 hours after transshipment of product by MT-103 (swift transfer) at out turn barrels upon presentation of the transaction documents at buyer’s bank. 2ND PROCEDURE FOR PERFORMANCE BOND TRANSACTION 7.11 PROCEDURES (C.I.F) 7.11.1 * SELLER SEND SPA, BUYER SIGN AND RETURN SPA WITH NOR/ETA FORMAT. 7.11.2 * BUYER SWIFT MT799 BLOCK FUND (SELLER VERBIAGE) TO SELLERS BANK... 7.11.3 SELLER SWIFT 2%PB TO BUYERS BANK 7.11.4 * BUYER SWIFT NON-OPERATIVE MT760 SBLC (SELLER VERBIAGE) TO SELLER BANK 7.11.5 * SELLER MAKES LOADING OF THE VESSEL, RELEASE ALLCARGO DOCUMENTS IN BUYER NAME, WHICH BUYER WILL VERIFY AT NNPC- LONDON AND SGS INSPECTION. List of the documents to be provided: • Clean Ocean Bill of Lading, One (1) Original and three (3) copiers. • Seller’s Commercial Invoice, One (1) Original and three (3) copies. • SGS/Saybold Certificate of Quality and Quantity, One (1) Original and three (3) copies • Certificate of Origin issued by NNPC, One (1) Original and three (3) copies • Certificate of Authenticity issued by NNPC, One (1) original and three (3) copies. • Master’s receipt for Samples. • Master’s receipt for Documents • Cargo Manifest • Cleanness report at loading Port and Lines B Charter Party Agreement. • Authority to Sell (ATS) from NNPC 7.11.6 * AFTER DOCUMENTS VERIFICATION BUYER MAKE SBLC OPERATIVE 7.11.7 * AFTER BANKS INFORMATION ABOUT OPERATIVE SBLC SELLER MOVE’S LOADED VESSEL TO BUYERS PORT 7.11.8 * POP AT POD, SELLER ISSUES ATB/ CLEARANCE TO BUYER INSPECTS FOR Q & Q AND RELEASE Q/Q REPORT TO BOTH PARTIES. 7.11.9 * SELLER ISSUE CERTIFICATE OF OWNERSHIP AND BUYER DISCHARGES CARGO. 7.11.10 * WITHIN 72 HOURS AFTER UNLOADING AND Q/Q, BUYER PAYS FOR CARGO AND COMMISSION. OUR COMPETITIVE EDGE: We are duly registered partners with an international oil company ,having their corporate head office in USA,with international offices in UK, India, Ukraine and Nigeria. We have deeper knowledge of the local and international market,technology and broad financial advisory expertise. We have strong relationship with regulatory authorities & solid alliance with providers of capital. We offer best prices (Wholesale & Discounted Prices)in the market with standard quality. Our Principal, which is part of a Consortium that has acquired an Oil Prospecting License (OPL), would be exploring and going public soon. We are also open for JV with companies/technical/financial partners/end users for SPOT BID COLLABORATION for the Purchase of LNG Excess Cargo under NLNG. Doing business with us will not be regretable. As a trial will convince you. Kindly send us the information requested above to enable us proceed. Thank you for your partnership. Kind best regards, Represented by Folashade ojuri inbox me +234 806 676 5993
Posted on: Fri, 05 Sep 2014 13:43:19 +0000
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