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Sco Bonny Light Crude Oil Procedure Tto

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0% found this document useful (0 votes)
326 views5 pages

Sco Bonny Light Crude Oil Procedure Tto

Yvbb

Uploaded by

gkgjbh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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You are on page 1/ 5

Info: Mr Oleg / Italy 00039 320 686 3805

LIST OF AVAILABLE PETROLEUM PRODUCTS


VALID UP TO 30TH JUNE 2020

Please Note
Price are subject to change to the current situation of international
Economics caused by the pandemic covid.19.

Description or Product Barrel Platt Price Discount


US Dollar

LCO Light crude oil BBL Platt minus $ - 2,00

BLCO Bonny Light Crude Oil BBL Platt minus $ - 2,00

BLCO Basra Light Crude Oil BBL Platt minus $ - 2,00

“TTO” CONTRACT PROCEDURE

FOR THE SALES AND PURCHASE


OF NIGERIA BONNY LIGHT CRUDE OIL. QUANTITY AND DURATION:

1) SHIPMENT: 1-2 MILLION US barrels MONTHLY +/-05% with


possible rolls and extension at the discretion of the Parties.

2) DESTINATION: TANKER TAKE OVER, LOCATION: GHANA OR


TOGA

3) LOADING DATES: 7 / 10 business days from receiving the RWA from


Soft Corporate offer Bonny Lght Crude Oil
buyers Bank.

4) PRICE: The 3-day average price centered around the Intertek Inspection
at Ghana or Togo., the date before the Inspection, the date of Inspection,
and the date after inspection, of the quotation published in Platt’s Crude
Oil Market wire under Epigraph “Key Benchmarks for Brent (Dated)”
[Code: PCAAS00], less a Discount of US$xxxx.00 (xxxxx) per barrel to
the Buyer. The Discount takes into account the cost of re-chartering the
tanker. PRICING IS ESTABLISHED AFTER INSPECTION.

EGUAL Ltd
Energy Trading Company

1
Info: Mr Oleg / Italy 00039 320 686 3805

5) DETERMINATION OF QUALITY AND QUANTITY: Quantity &


Quality is to be ascertained by independent Inspector company Intertek as
agreed upon by Buyer and Seller at Ghana or Togo. Their Certificate of
Quality and Quantity should be judged as the final and binding on the
Seller and Buyer and will form the basis of the Seller’s final Commercial
Invoice for payment purposes. .

6) PAYMENT: In U.S Dollars: MT 103. Final payment is made by swift


transfer within 3 banking days of vessel clearance outside of Ghana or
Togo International waters. The Seller shall issue a Final Commercial
Invoice based on the Intertek Inspection Certificates.

PROCEDURE:

1. Buyer and Seller sign and seal contract.

2. Buyer provides RWA with verbiage agreed upon by Buyer and Seller. Seller
coordinates the hiring of Supercargo.

3. Vessel is nominated within 7-10 business days and Q88 is provided to Seller
and Buyer. Captain issues ATB to Supercargo.

4. Seller introduces Buyer to vessel handler/owner/operator to coordinate re


charter at: Ghana or Togo.

4. SGS performs Inspection on behalf of NNPC and loading documents are


issued.

5. Intertek & Supercargo perform Quality and Quantity inspection at loading port
and Soft Corporate offer Bonny Lght Crude Oil
Intertek provides Buyer and Seller with inspection reports.

6. Seller coordinates vessel clearance and Captain will notify Buyer from email
account listed on vessel Q88 once vessel has cleared Ghana or Togo waters and
is between 10-12NM. Supercargo will also confirm that quantity has not changed
since time of Intertek inspection.

7. Buyer finalizes re charter with Vessel owner/handler/operator.

EGUAL Ltd
Energy Trading Company

2
Info: Mr Oleg / Italy 00039 320 686 3805

8. Seller issues final Commercial Invoice, Seller processes full cargo documents
in buyer's name, buyer pays for total cargo via MT103.

9. Seller, within 24 hours, confirms payment and releases original documents and
OWNERSHIP TITLES to the BUYER AND BUYER TAKES OVER.

10. Vessel sails to BUYER'S destination port, and term contract commences.

DOCUMENTS TO BE ISSUED:

(a) Non-negotiable Bill of Lading signed in original by the Master of


vessel showing name of the vessel, port of loading, cargo description,
quantity loaded and destination, marked “Freight Prepaid and/or
“Clean on Board”;

(b) Certificate of Quantity issued by NNPC at the Bonny Terminal (this


document will be replaced by the Intertek Certificate of Quantity in
Nigeria);

(c) Certificate of Quality issued by NNPC at the Bonny Terminal (this


document will be replaced by the Intertek Certificate of Quality in
Nigeria);

(d) Certificate of Origin issued by NNPC;

(e) Certificate of Authenticity issued by NNPC;

(f) Master Receipts of Samples issued by Master of tanker;

(g) Master of Tanker Receipt of Each Copy of Documents except


Commercial Invoice; Soft Corporate offer Bonny Lght Crude Oil

(h) Tanker Ullage Report issued at the Loading Terminal;

(i) Tanker Cleanliness Report issued at the Loading Terminal;

(j) Certificate of Ownership/Warranty of Title issued by NNPC and


issued in the name of the Buyer.

EGUAL Ltd
Energy Trading Company

3
Info: Mr Oleg / Italy 00039 320 686 3805

RWA ( Sent Via Bank to Bank Transmission)

PRODUCT: BONNY LIGHT CRUDE OIL

VALUE: USD 65,000,000 - (SIXTY FIVE MILLION US DOLLARS)

MSG: RWA PROOF OF FUNDS

WE, (NAME AND ADDRESS OF BUYER’S BANK) ARE INFORMED THAT OUR
CLIENT, (NAME OF BUYER ), HAS ENTERED INTO A SALES AND PURCHASE
CONTRACT REFERENCE NUMBER CONTRACT NUMBER: SEC /BLCO/TTO-
xxxxxxxx

FOR THE PURCHASE OF BONNY LIGHT CRUDE OIL WITH AN ESTIMATED


VALUE OF USD 60,000,000 - SIXTY MILLION US DOLLARS (+/- 10%).

WITH RESPECT TO THE PAYMENT OBLIGATIONS UNDER THIS CONTRACT,


WE HEREBY CONFIRM THAT OUR CLIENT HAS FUNDS AVAILABLE ON
DEPOSIT WITH THIS BANK SUFFICIENT TO MEET ITS OBLIGATION OF USD
65,000,000-SIXTY FIVE MILLION US DOLLARS (+/- 10%)FOR THE CRUDE OIL
DELIVERED UNDER THE REFERENCED CONTRACT.-

WE FURTHER CONFIRM THAT THESE FUNDS ARE GOOD, CLEAN, CLEARED


UNITED STATES DOLLARS OF NON-CRIMINAL ORIGIN AND ARE FROM
LEGAL SOURCES.

WE ALSO CONFIRM THAT THESE FUNDS ARE VERIFIABLE AND


CONFIRMABLE ON A BANK-TO-BANK BASIS.

Soft Corporate offer Bonny Lght Crude Oil


BANKING OFFICER #1 BANKING OFFICER #2

NAME NAME

SIGNATURE SIGNATURE

SEAL SEAL

EGUAL Ltd
Energy Trading Company

4
Info: Mr Oleg / Italy 00039 320 686 3805

Please do not hesitate to contact us for your enquiry, we stay at your disposal
for all the information you need.

Best Regards
Director

1st June, 2020

End of Document

Soft Corporate offer Bonny Lght Crude Oil

EGUAL Ltd
Energy Trading Company

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