Seller issues contract with full banking coordinates and proof of product (POP) in Seller’s name with NNPC as the consignor.
Buyer & Seller sign and seal contract
Buyer’s bank issues confirmed, irrevocable, non-operative LC by SWIFT in favor of the seller.
Seller’s bank lodges a 2% PB to activate the buyer’s LETTER OF CREDIT.
Seller nominates vessel: Ship Name, Call Letters, Captain’s Name and a Copy of the Aspatankvoy Sub-Charter Party, the cargo will be officially registered and programmed in buyer’s name to reflect on SHELL network screen London, Lloyd’s
Within 15days after discharge of crude oil at Buyer’s port of destination the Buyer pays for the crude oil as per the Final Q & Q Report issued by independent inspector at the port of discharge. 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 MFPA in the contract
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Trade Leads Directory -> All Trade Leads -> Chemicals -> Petroleum Products: Crude Oil -> Bonny Light Crude Oil
