BLCO in Qingdao onshore
BLCO On-Shore Tank Farm in Qingdao China $6/$4 (Ref VR) 尼油岸罐在青岛
Quantity: 4 million barrels at Qingdao port.
Discount is $6 gross /$4 net, Ex Tanks Qingdao China
POP documents will be issued to seller and buyer names after signed contract.
Seller is based in the USA.
NOTE：Seller has invested and paid NNPC, therefore buyer shall either pay the $350K cargo document fees or swift MT-799 of full cargo value to the seller’s bank account in Bank of America.
PROCEDURE FOR CHINA TANK FARM PRODUCT
1. Buyer signs SPA, returns to Seller with NOR/DTA format with Shipping Company information
2. Seller issues Marine NOR (Notice of Readiness) thru China Tank Farm Storage facility
3. Buyer bank immediately wires $350,000 into Seller account for documentation or SWIFT MT799 blocked fund for the full Cargo value to NNPC Nominated Receiver Account
4. Seller issues DTA to Buyer within 72hrs of confirming MT799 blocked fund to Seller designated Bank, then invites Buyer inspection team for Q&Q at Tank Farm facility at Buyer expense
5. Upon confirmation Test Result, Seller issues Commercial Invoice based on Q&Q results to Buyer
6. NNPC thru Seller transfers all POP documents (Transfer of title, Certificate of Origin and Quantity, Master’s Receipt) in Buyer Name and send directly to Buyer and Buyer’s Bank
7. Buyer makes full payment to Seller within 48 hrs for total Cargo and contract IMFPA, via wire Transfer (T/T) in exchange for Title of Ownership in Buyer’s Name.
8. Seller continues delivery 4M bbls per Month with Agreement between Buyer and Seller, and Buyer Instrument in place and open for (366) days If buyer accepts the above terms and procedures, please confirm via email ASAP before long holidays for Lunar new year.