Description
CIF AMERICA/ EUROPE/CHINA
PROCEDURE2::
1. SELLER AND BUYER SIGN SPA AND BUYER GIVES NOR ETA AND ATB
FORMAT.
2. BUYER\'S BANK ISSUES RWA TO NNPC BONNY TERMINAL AND COPIES THE
SELLER.
3. SELLER ISSUES ATS/ POP IN SELLER AND BUYER\'S NAME WITH NOR ETA
AND BUYER UPON CONFIRMATION BUYER GIVES MT.**0 FOR FULL CARGO.
4. VESSEL SAILS TO EUROPE OR AMERICA/CHINA AND UPON ARRIVAL VESSEL
ISSUES NOTICE OF ARRIVAL AND NNPC AGENT WITH BUYERS SHIPPING AGENT
CONDUCT CUSTOM CLEARANCE TO BUYERS POINT OF DISCHARGE.
5. VESSEL ISSUES MARINE ATB AND BUYERS INSPECTION TEAM BOARD TO
CONDUCT CIQ.
6. BUYER PLACES MT.**3 TO SELLER\'S NOMINATED ACCOUNT UPON
INSPECTOR DISEMBARKING WITH SAMPLE AND PRODUCT IS DISCHARGED INTO
BUYERS TANKFARM AND FINAL DOCUMENTATION HARD COPIES ISSUED IN
BUYERS NAME.
7. UPON Q AND Q REPORT, SELLERS COMMERCIAL INVOICE AND
HARD COPIES OF CARGO DOCS, PAYMENT IS EFFECTED TO SELLER AND ALL
INTERMEDIARIES RECIEVE THEIR COMMISSIONS AS STIPULATED IN SALES AND
PURCHASE AGREEMENT.
8. TRANSACTION IS CLOSED AND NEW ONE COMMENSES.
PROCEDURE FOR CHINA CIF 1
1.SELLER AND BUYER SIGN SPA
2. BUYER ISSUES BANK ASSURANCE LETTER TO THE VALUE OF N5M OR
EQUIVALENT IN USD FOR ISSUANCE OF NOR/ETA AND ATS/PARTIAL POP IN
SELLER AND BUYERS NAME.
3. UPON CONFIRMATION OF BANK ASSURANCE LETTER WHICH STATES THAT
BUYER UPON RECIEPT OF NOR ETA AND ATS/PPOP OF LOADED VESSEL SAILING
TO CHINA THAT THE SUM OF N5M OR IT\'S EQUIVALENT IN USD WILL BE
PAID TO SELLER FOR DOCS. ALSO THE LETTER WILL STATE THAT UPON
ARRIVAL OF VESSEL IN CHINA AND ISSUANCE OF VESSELS NOTICE OF
ARRIVAL BUYER WILL PAY THE SUM OF **0,**0 USD FOR CUSTOM CLEARANCE
AND CIQ.
4. SELLER) NNPC BONNY TERMINAL ISSUE NOR/ETA FROM VESSEL ON WAY TO
CHINA AND ATS/POP IN SELLER AND BUYERS NAME AND BUYER THEN RELEASES
THE N5M OR USD EQUIVALENT TO SELLER AS PAYMENT FOR DOCS.
5. UPON ARRIVAL OF VESSEL IN CHINA AT BUYER\'S POINT OF DISCHARGE
THE VESSEL ISSUES NOTICE OF ARRIVAL AND BUYER PAYS THE **0,**0.*0
TO SELLER FOR LOGISTICS AND SELLER CONNECTS BUYER TO NNPC CLEARING
AGENT FOR THE CUSTOM CLEARANCE AND ISSUANCE OF MARINE ATB FOR
CIQ TO BE CONDUCTED ON LOADED VESSEL.
6. UPON SUCCESSFUL Q AND Q, BUYER GIVES MT.**3/*2 FOR TOTAL CARGO
MINUS LOGISTICS AND VESSEL DISCHARGES INTO BUYERS TANKFARM.
7. PAYMENT IS EFFECTED IMMEDIATELY UPON ALL DOCS GIVEN TO BUYER AND
COMMISSIONS PAID TO ALL AGENTS AND FACILITATORS.
8.NEXT TRANSACTION COMNENCES.
Serious Buyers or Buyer\'s Mandate should contact me.
