CRUDE OIL (BLCO)
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crude oil blco
We are close to sellers mandate and we can supply for now
TTT delivery on gross discount of $7.00, net $5.00,
buyer agent $0.70, seller agentt $0.70 and
Procedures On TTT
1. Seller/Buyer sign sales purchase contract
agreement and copies are sent to both banks.
2. Seller's bank gives pre-advice of $25,000 cash
bond in favour of buyer for each 30.000mt delivery
revolving for 1MBBL
3. Buyer places full irrevocable operational and
divisible BANK GUARANTEE in favour of seller's bank.
4. Suplier loads cargo and sends (NOR) + ETA to the
5. Supplier vessel sails to long side with the
buyer's vessel at 40 nautical miles int'l waters.
6. On presentation of NOR + Bill Laden, value cargo
is escrowed in seller's account to be released
immediately after transhipment.
7. Q & Q is conducted
8. Transhipment takes place
9. Payment is released by KTT (Swift Transfer) on
out turn barrels upon presentation of the following
documents at the buyers bank.
a) . Original bill of lading
b) . Commercial invoices
c) . Tanker haulage report
d) . Tanker time sheet
e) . Tanker Master's receipt of documents
f) . Certificate of quality and quantity (discharge
So go through this carefully, and if procedure
acceptable by you, contact immediately to enable us send draft contract to you.