06/06/2025
PRODUCT: BONNY CRUDE OIL (BLCO)
DELIVERY: FOB NIGERIAN WATERS - TTO
ORIGIN : NIGERIA
SPOT : 2,000,000 BARRELS
PRICE : BRENT MINUS -$5.00 NET PER BARREL
COMM : EACH SIDE PAYS THEIR INTERMEDIARIES
INSPECT : SPECTRUM INSPECTION LABORATORY OR EQUIVALENT
PAYMENT: MT103/TT WIRE TRANSFER WITHIN 6 HOURS
TRANSACTION PROCEDURES (TANKER TAKE OVER) CONTRACT PROCEDURE / FOB OFF-SHORE BONNY TREMINAL WATERS OR ANY OTHER TTO DELIVERIES:
1.BUYER SIGNS AND RETURNS THIS SCO ALONG WITH HIS COMPANY PROFILE AND CIS OR KYC. SELLER ISSUES COMMERCIAL INVOICE. BUYER SIGNS AND RETURNS CI TO SELLER.
2.SELLER, BUYER AND TRADES AND SHIPPER SIGN THE SALES AND PURCHASE AGREEMENT (SPA). EACH SHALL DEPOSIT WITH THEIR RESPECTIVE BANKS. ELECTRONICALLY SIGNED COPY ARE ACCEPTED AS VALID. SELLER ISSUES THE FOLLOWING POP DOCUMENTS TO THE BUYER FOR DUE VERIFICATION AND FURTHER ACTION:
Clean Ocean Bill of Lading
Certificate of Origin issued by NNPC
Cargo Manifest
Authority to Sell & Collect (ATSC)
Vessel Q88
3.SELLER AND TRADER AND SHIPPER PROVIDE TO THE BUYER THE CLEARENCE ISSUED BY NNPC, COPY OF THE ATB, THE Q&Q REPORT ISSUED BY ANTOTEC ULTIMATE GLOBAL SERVICE CONDUCTED AT SPECTRUM INSPECTION LAB, AND THE COMMERCIAL INVOICES
4.BUYER VERIFIES THE INSPECTION REPORT AND CONFIRMS THE CI, AFTER POSITIVE VERIFICATION OF THE INSPECTION REPORT QUALITY AND QUANTITY
5.BUYER CONTACTS AND CONFIRMS THE VOYAGE CHARTER AGREEMENT WITH THE SHIPPING COPANY, CONTACTS THE VESSEL’S CAPTAIN AND PAYS THE FULL AMOUNT OF THE COMMERCIAL INVOICES WITHIN 6 HOURS BY MT103 / TT WIRE TRANSFER.
6.UPON RECEIPT OF PAYMENT, SELLER TRANSFERS TO THE BUYER, THE TITLE OWNERSHIP AND CONFIRMS IT TO THE SHIPPING COMPANY AND VESSEL’S MASTER
7.EACH SIDE PAYS COMMISSIONS TO THEIR MANDATES AND INTERMEDIARIES AS AGREED
NOTICE FINAL CARGO DOCUMENTS ISSUED TO THE BUYER UPON FULL PAYMENT:
Clean Ocean Bill of Lading, One (1) Original and three (3) pieces
Certificate of Origin issued by NNPC, One (1) Original and three (3) Copies
Certificate of Authenticity issued by NNPC, One (1) original and three (3) copies
Certificate of Ownership
Master's Receipt for Samples
Master's Receipt for Documents
Cargo Manifest
Quality and Quantity Report
Tanker Ullage Report.