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bonny light crude
bonny light crude oil
BONNY LIGHT CRUDE OIL[2 Million barrels/month]
Specific gravity e 15c 0.8398
API 35-37 degrees max
BSW (by configuration) 0.65% max
Pour point below 40% psi
Ried vap or preasure 6.25% PSIGN
Sulphur Content wt% 0.149
Salt ib 10000 bb 12 approx
Carbon residue wt% 1.0 approx
Water vol 0.2% vol
Payment shall be made by confirmed irrevocable transferable divisible bank guarantee for the total value of the shipment and issued by first class bank in Europe or America. The Letter of Credit shall be presented at the counter of the buyers bank, received and authenticated in accordance with the requirements of the Letter of credit against the Following:
7 Letter of Credit for the total amount
7 Original Bill of Lading with copies
7 Commercial Invoices
7 Certificate of Origin
7 Certificate of Quality and Quantity (issued at the port of discharge)
7 Tanker time Sheet
7 Charter Party/bill of Lading
7 Masters receipt for sealed Samples
7 Certificate of Ownership
Payment by the buyers bank through the bank guarantee shall be completed by KTT swift transfer from the buyers bank to the sellers bank within 6 (six) hours after the transshipment of the goods and presentation of the documents stated in Article above.
All commission due to the intermediaries/brokers and agents be transferred by the buyers bank at the same time and by the method stated in Article above.
The buyer and the seller each shall be responsible for the bank charges relating to its side of the banking transaction.
ARTICLE 8: PROCEDURES:
Seller and Buyer signs sales/purchase contract agreement and copies are sent to both Banks.
Buyer provides proof of payment capability
Sellers vessel sends notice of readiness (NOR) to Buyers vessel.
Buyer places full irrevocable Bank guarantee.
Sellers vessel sails to long side with the Buyers vessel at 40 nautical miles
Quality and Quantity (Q and Q) is conducted.
Transshipment takes place.
Payment is released by KTT (swift Transfer) on out turn barrels upon presentation of the
loaded document at the Buyers Bank.
7 Original Bill of Lading
7 Commercial Invoice
7 Tanker Haulage Report
7 Tanker time Sheet
7 Maters Receipt of Documents
7 Certificate of Quality and Quantity