ï?· 2M-10M BBLS OF BLCO
ï?· CIF TO CHINA/EUROPE/ASIA
ï?· Discount: @ $11/7NET. AND TTO IN CHINA WATERS ONLY @ $10/6NET
ï?· BUYER GIVES MT799 CASH BLOCKED FUNDS FOR TOTAL CARGO
ï?· AND SELLER RESPONDS WITH 2%PB VIA MT760
We are DIRECT to Seller
TRANSACTION PROCEDURES:
1) Buyer and Seller sign and seal the SALES & PURCHASE AGREEMENT, CIS,
CERTIFICATE OF REGISTRATION. and return. The electronic signed copy by both
parties is considered legally binding and enforceable and must not be changed
without the written consent of the parties
2) Buyer's bank gives RWA by email to Seller's bank stating their readiness to give
MT799 CASH BLOCKED FUNDS on behalf of buyer valid for 366days to Seller's bank.
{bank must be one of the top prime 50 banks in the world}.
2
3) Seller's bank responds to email RWA confirming their readiness to receive Buyer's
bank 366 days MT799 CASH BLOCKED FUNDS and also states commitment that
2%PB will be given to Buyer's bank.
4) Buyer's bank issues valid CASH BLOCKED FUNDS to Seller's bank via swift MT799.
5) Seller's bank validates and issues 2%PB to buyer's bank by swift MT760 SBLC.
6) Buyer provides destination Port / Tank farm Information to Seller. Seller instructs his
Ship Master to send NOR/ETA to Buyers Port of discharge.
7) Captain open communication via sat com with buyer's shipping agent, loaded
vessel will sail to Buyers Discharge Port.
8) Seller authorizes vessel captain to give shipping agents all relevant documents
for clearing into the Port.
9) Sellers' Vessel Captain issues Authority to Board (ATB) to enable Buyer's
independent inspection to board the loaded vessel for Quality and Quantity(Q&Q)
analysis at Buyers discharge port.
10) After confirmation of the Q&Q, Seller provides invoice on Q&Q Report
conducted at discharge and issues the complete shipping documents to the
Buyers Bank in the Buyers name in exchange for payment to enable the Buyer
process the cash payment for the cargo after discharge in the Buyers farm tank.
11) The vessel discharges cargo at agreed Destination Port.
12) Upon complete discharge of cargo, Buyer's bank within 48hrs, pays via wire
transfer for the entire cargo to Seller's authorized beneficiary nominated bank
accounts & commission agents as stipulated in the IMFPA in this contract, which is
based on the total out turned barrels presented in the last Q&Q Inspection in
buyers discharge port.
