Crude Oil Bonny Light

By keeping track of current market development, we are presenting an exclusive range of Crude Oil Bonny Light. We could provide 2M -10M barrels per month of BLCO.

Payment Terms & Procedure :-
A. Buyer and Seller sign and seal the Contract including banking coordinates and exchange the signed copy by electronic mail. The electronic signed copy by both Parties is considered legally binding and enforceable and must not be changed. The executed SPA is lodged in their respective banks.
B. Seller provides Proof of Product (POP).
C. Within three (3) banking days of (B) above, buyers bank issue Non-Operative Documentary Letter of Credit via MT700 after verification of B above.
D. Sellers bank issue 2% Performance Bond to activate the Documentary Letter of Credit. (There shall be NO upfront Performance Bond whatsoever).
E. Within five (5) banking days, after receipt and positive confirmation of Documentary Letter of Credit (MT700) as per (C), above, Seller issues a verifiable nomination of Vessel.
F. Seller programs, pays loading cost and loads Vessel in Buyers name.
G. Seller conduct loading and provide Non Negotiable shipping documentations to the buyer, with the buyer designated as the consignee of the cargo.
H. Within 24 banking hours after discharge of crude oil at Buyers port of discharge and presentation of Sellers Invoice, Discharge Certificate and Shipping Documents at Sellers Bank, Full Payment is made by Swift