We, PRIMATEX-XL, located in Ghana, West Africa, confirm that we are ready, willing and able to link you with a direct supply source for the product specified in the terms and conditions stated below.
Commodity: Bonny Light Crude Oil
Origin: Nigeria
Discount: $12.00 Gross / $8.00 Net to buyer. Seller side: $2.00 (closed). Buyer side: $2.00 ($ 1.00 is closed, $1.00 is open)
Quantity: Minimum of One million Barrels (1,000,000), Delivery: CIF ASWP,
Payment: Please see the procedure for detail.
Quality:
The quality of the product shall be regular NNPC standard and export grades oil (CO)
Specific gravity e 15c U R398
API 35ā -37ā max
BSW (by configuration) U. 65āo max
Pour Point below 4Uāo Psi
Reid vapor pressure 6.25% PSIGN
Sulphur content Wt% 0.149
Salt ib 1000 bb 12 approx
Carbon residue wt% 1.0 approx
Water vol 0.2% vol
PROCEDURE
1. BOTH PARTIES SIGN AND LODGE SPA WITH THEIR RESPECTIVE BANKS.
2. BUYER RETURNS SPA WITH FULL NOR/ETA FORMAT.
3. SELLER'S BANK WITHIN 3 BANKING DAYS ISSUE 2% PERFORMANCE BOND TO BUYER'S BANK.
4. BUYER'S BANK RESPONDS WITH THE ISSUE OF STAND-BY LETTER OF CREDIT (SBLC) TO SELLER'S BANK.
5. SELLER NOMINATES VESSEL IN BUYER'S FAVOUR, ISSUES NOTICE OF READINESS (NOR), EXPECTED TIME OF ARRIVAL (ETA) TO THE BUYER'S PORT OF DISCHARGE. VESSEL COMMENCES VOYAGE TO BUYER'S PORT.
6. SELLER'S BANK SENDS TO BUYER'S BANK ALL VALID SHIPPING DOCUMENTS, IN BUYER'S NAME.
7. ON ARRIVAL, VESSEL TANKER'S CAPTAIN ISSUES MARINE AUTHORISATION TO BOARD TO BUYER TO CONDUCT Q&Q ANALYSIS.
8. BUYER'S INSPECTOR CONDUCTS INSPECTION AND PRODUCT DISCHARGES INTO BUYER'S TANKS.
9. WITHIN 5 BANKING DAYS, PAYMENT IS RELEASED BY MT 103 THROUGH SELLER'S COMMERCIAL INVOICE AFTER Q&Q IS ASCERTAINED BY BUYER'S INSPECTION AGENT AT THE BUYER'S DISCHARGE PORT AGAINST PRESENTATION OF THE FULL SET OF THE ORIGINAL SHIPPING DOCUMENTS TO THE BUYER AND DISCHARGE IS COMPLETE. THE TITLE IS TRANSFERRED FROM SELLER TO BUYER.
Looking forward to doing long term business with you.
Best Regards,
Gifty A.