SPOT OFFER AT NIGERIA WATER, WITH CARGO MANIFEST,ATS AND POP

SPOT OFFER AT NIGERIA WATER, WITH CARGO MANIFEST,ATS AND POP

PRICE $13 LESS $4

 

1. Seller and Buyer sign SPA. Buyer return signed SPA to Seller with ATB format and super cargo details .

2. Seller’s vessel issues ATB/Security clearance to buyer/Buyer’s representatives to board for cargo confirmations at buyers cost amounting to N500,000.00 (Five Hundred Thousand Naira) only, to be paid through seller principal agent Bank account .

3. Buyer’s super cargo boards’ seller’s loaded vessel for confirmation and first Q&Q activities in Nigeria water or as agreed by both parties at buyer’s cost amounting to N5m (Five Million Naira) only, to be paid through seller principal agent Bank account

4. On successful conduct and confirmation of product in Nigerian/International waters, buyer’s bank issues standby letter of credit/bank guarantee covering the entire cargo.

OR buyer provides logistics/security clearance of vessel amounting to N35m (Thirty-Five Million Naira) only   to be paid through seller principal agent Bank account,  for seller’s vessel to commence voyage to International waters for the Q&Q and payment.

5. On arrival of vessel at International waters/point of take-over, with Buyer’s super cargo on board, Seller’s vessel issues a marine ATB (MATB) to Buyer’s inspectors to board and conduct the final Q & Q for payment.

6. Upon receipt and confirmation of second inspection report, Buyer’s bank acts on clause 4, paragraph A above in conformity with the Q&Q report.

7. Upon confirmation of buyer’s payment instrument by seller’s nominated bank,

Seller hands over all original cargo document including title of ownership to buyer for a complete take-over of vessel and cargo.

8. Buyer takes over control of vessel and instructs his captain forthwith.

Price: $13.00/bls Gross below dated brent gross.      

Qty: 1 and 2 million barrels per shipment

 

 

 

 

PROCEDURE 2 TTO  2

1. Seller and Buyer sign SPA. Buyer return signed SPA to Seller with ATB format and super cargo details

2. Buyer block MT799 TO SELLER Nominated Block fund account on total cargo,on SELLER’S VERBIAGE. OR STANDBY LETTER OF CREDIT.

3.Seller’s give POP/ cargo document,ETA/NOR OR MATB/ Security clearance to buyer/Buyer’s representatives to board for cargo confirmations.

4. Buyer’s super cargo boards’ seller’s loaded vessel for confirmation and first Q&Q activities in Nigeria water or as agreed by both parties.

 seller’s vessel to commence voyage to International waters for the Q&Q and payment.

5. On arrival of vessel at International waters/point of take-over, with Buyer’s super cargo on board, Seller’s vessel issues a marine ATB (MATB) to Buyer’s inspectors to board and conduct the final Q & Q for payment.

6. Upon receipt and confirmation of inspection report, Buyer’s bank  makes final payment via Swift wire transfer of total cargo cost and commissions simultaneously.

7. Upon confirmation of buyer’s payment instrument by seller’s nominated banKS

Seller hands over all original cargo document including title of ownership to buyer for a complete take-over of vessel and cargo.

8. Buyer takes over control of vessel and instructs his captain forthwith.

Price: $13.00/bls Gross below dated brent gross.      

Qty: 1 and 2 million barrels per shipment

-----------------------INSTANCE TYPE AND TRANSMISSION -----------------------------------

ORIGINAL RECEIVED FROM SWIFT

PRIORITY

MESSAGE OUTPUT REFERENCE

CORRESPONDENT INPUT REFERENCE

------------------------------------- MESSAGE HEADER ---------------------------------

SWIFT OUTPUT                          :

SENDER                                   :      

RECEIVER                                :     

ACCOUNT NUMBER                    :          

--------------------------------------------------------MESSAGETEXT---------------------------------------------------------------

20:   SENDER REFERENCE                  :

23B  BANK OPERATION CODE             :

32A  VALUE DATE/CURRENCY            :

50A  ORDERING CUSTOMER  :

59A  BENEFICIARY CUSTOMER           :

71A  DETAILS OF CHARGES                :

 72      AS PER INSTRUCTION OF OUR CLIENT, ……………………, WE, XXXXXXXXXXXXXX, XXXXXXXXXXXXXXXXX, 

HEREBY ISSUE OUR IRREVOCABLE UNCONDITIONAL PRE-ADVICE UNDERTAKING TO ISSUE IN YOUR

FAVOUR FOR THE ACCOUNT OF XXXXXXXXXXXX WITH YOUR REF: XXXXXXXXXXXXX IN THE AMOUNT OF USD.0000000000, (XXXXXXX HUNDRED MILLION DOLLARS ONLY) WITHIN THREE (3) BANKING DAYS

UPON RECEIPT AND SATISFACTORY VERIFICATION, AUTHENTICATION AND VALIDATION BY YOU OF THIS STANDBY LETTER OF CREDIT PRE-ADVICE. THIS INSTRUMENT SHALL  BE UNCONDITIONAL, TRANSFERABLE OR ASSIGNABLE .

 WE HEREBY CONFIRM THAT THE FUNDS FOR PAYMENT ARE GOOD, CLEAN AND CLEAR OF NON-CRIMINAL ORIGIN AND FROM LEGAL SOURCE.

 THIS INSTRUMENT IS VERIFIABLE, AUTHENTICATED AND VALIDATED BY US, ON BANK-TO-BANK BASIS.

THIS INSTRUMENT IS VALID FOR FIVE (5) INTERNATIONAL BANKING DAYS FROM DATE OF ISSUE AND CAN BE CONFIRMED ONLY ON A BANK TO BANK BASIS.

 THIS IS AN OPERATIVE BANK INSTRUMENT AND IS SUBJECT TO THE UNIFORM COMMERCIAL CODE AS IT RELATES TO BANK CREDIT INSTRUMENT.

 PLEASE ADVISE RECEIPT OF THIS MESSAGE AND INSTRUCT FOR YOUR READINESS TO RECEIVED OUR MT760 WITHIN 3 BANKING DAYS

 FOR AND ON BEHALF OF (ISSUING BANK)

AUTHORIZED SIGNATORY:                             AUTHORIZED SIGNATORY:

BANK OFFICER:                                                   BANK OFFICER:

TITLE:                                                                        TITLE

ID CODE:                                                                ID CODE:

 

APPENDIX B: SBLC VERBIAGE MT760

 

Swift Input : FIN 760 Guarantee,/Stdby Letter

Credit       

Sender:

Receiver:  

------------------------- MESSAGE TEXT --------------------

-----

27: SEQUENCE OF TOTAL: 1/1

20: TRANSACTION REFERENCE NUMBER: XXXXXXXXXXXXX

23: FURTHER IDENTIFICATION: DRAFT FOR REVIEW ONLY

30: DATE OF ISSUE: DRAFT FOR REVIEW ONLY

40C: APPLICABLE RULES: ISPR

77C: DETAILS OF GUARANTEE

TO:

SWIFT CODE:

ACCOUNT NAME:

ACCOUNT NO.:

BANK OFFICER NAME:

 

WE, ………………………………………………………………………………, HEREBY OPEN OUR IRREVOCABLE, TRANSFERABLE, UNCONDITIONAL, DIVISIBLE, ASSIGNABLE, AND CONFIRMED CASH BACKED STAND BY LETTER OF CREDIT IN FAVOUR OF ............................. ., FOR THE AMOUNT OF US$000,000,000.00 (UNITED STATES DOLLARS …………………………………. MILLION ONLY) DUE FOR ONE YEAR ONE DAY FROM THE DATE OF ISSUE.

 

PAYMENT UNDER THIS STANDBY LETTER OF CREDIT IS AVAILABLE ON THE BENEFICIARY'S FIRST WRITTEN DEMAND VIA SWIFT, DRAWN UNDER THIS STANDBY LETTER OF CREDIT NUMBER: XXXXXXXXXX

DATED DD.MMM.YYYY ON CONTRACT TRANSACTION NO.: XXXXXXXXXXXXXXXXXXXXXXXXXXX, BUYER’S CODE NUMBER.

 

WE ENGAGE WITH YOU THAT THE DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS STANDBY LETTER OF CREDIT SHALL BE DULY HONOURED UPON PRESENTATION TO OUR COUNTER AT

 xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx.

 

THIS LETTER OF CREDIT IS SUBJECT TO THE INTERNATIONAL STANDBY PRACTICES 98 ICC PUBLICATION 590 AND THE LAWS OF xxxxxxxxxxxxxxxx.

 

 

THIS STANDBY LETTER OF CREDIT EXPIRES ON DD.MMM.YYYY

 

 THANKS

OBIORA

PHONE NUMBER:+2348034415384

EMAIL:[email protected]

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