USE2: QUANTITY.
2.1 The total contractual quantity of the commodity sold and purchased under this Agreement is 2million bbls (TTT),(TTO) with a variation of +/-10% (plus/minus ten percent). Without prejudice to the fore going, the Buyer shall acceptancy additional shipment/delivery of product should availability of products sustain such additional consignment.
CLAUSE3: DELIVERY TERMS.
3.1 The contracted quantity is 2m barrels, +/-10% (plus/minus ten percent) pershipment at sellers option.
3.2 The delivery scheduled, commencing as quickly as possible, upon mutual agreement Between the Buyer and the Seller.
CLAUSE4: TIME PERIOD.
4.1 The duration of this contract is 7days for shipments of each 2MBBLS barrels per vessel, +/-10%, unless extended by an agreement by both parties.
4.2 This contract, if so desired, can before 12months or longer, with possible rolls and extensions.
4.3 Lifting shall commence in less than 10 (Ten) calendar days of execution of this contract and placement of banking instruments in favor of the Seller.
CLAUSE5: QUALITY
The Seller guarantees that the quality of the product sold will conform to the guaranteed specifications of NNPC Bonny Light Crude Oil, as noted in Appendix â??Aâ?? of this agreement.
CLAUSE6: PRICE AND PAYMENT SCHEDULE:
A. =GROSS DISCOUNT BELOW BRENT $13:00 LESS $5:00 TO BROKERS, THEN $2:50 TO SELLER'S AGENT/FACILITATOR AND $2:50 TO BUYER'S AGENT/FACILITATOR.
B. Sellers and Buyers Agents/Facilitators = $5:00 PER
