BLCO Procedures

N D PRESTON is a Direct Seller/ Consignee for NNPC for selling BLCO.

With Refined products, we have committed a working relationship with trusted Refineries/Sellers which enables us to bring a win-win proposition to all our clients.

We conduct extensive due diligence on both sides before engaging with clients (who provide their Corporate Profile and Passport page) whose KYC and CIS will make the buying experience effortless
Buyers can be supplied BLCO through ND Preston by one of the following   Procedures available now:

2 Comments to BLCO Procedures

  1. THIS IS OUR PROCEDURE, GO THROUGH IT. But if there is any amendment to suit your procedure, feel free to tell me.
    thanks.
    *1 Buyer & Seller sign and seal this contract and exchange the signed copy by electronic mail. The electronic signed copy by both parties is considered legally binding and enforceable.
    2BUYER SEND NOR FORMAT/CIS/PASSPORT COPY/CERTIFICATE OF BUSINESS REGISTRATION TO SELLER. and bank rwa (verbiage attached)
    3 Seller ISSUES BELOW CONFIRMATION LETTERS:
    CONTRACT CONFIRMATION LETTER.
    SELLER VESSEL ISSUES NOR/ETA from first 2 million barrel vessel.
    ACCOUNT NOMINATION LETTER.
    INSTRUMENT GUIDELINES TO FOLLOW LETTER.
    4BUYER BANK ISSUES PRE-ADVICE VIA MT999/799/199 TO SELLERS ACCOUNT AS PER SELLERS BANK VERBIAGE WITHIN 48HRS.
    5 SELLER BANK CONFIRMS PRE-ADVICE AND RESPOND TO BUYERS BANK.
    *6 BUYER UPON CONFIRMATION AND RECEIPT OF PRE-ADVICE RESPONDS within 48hrs, Buyers bank issues confirmed, irrevocable, unconditional, divisible, transferable, SBLC VIA MT760 by SWIFT in favor of the seller, within 72 hrs, ACCORDING TO SELLERS BANK VERBIAGE.
    *7 SELLER CONFIRMS MT760 SWIFT.
    *8 SELLER ISSUES CONFIRMATION LETTER ON RECEIPT OF INSTRUMENT TO BUYER.
    *9 SELLER ISSUES SHIPMENT SCHEDULE FOR FIRST MONTH DELIVERY OF FIRST 10.000.000 BARRELS SHIPMENT. FOR 5 VESSELS OF 2.000.000 BBLS EACH. NEXT SHIPMENT SCHEDULE COMES BEFORE PAYMENT OF LAST DELIVERY.
    *10 SELLER ENSURES that the CARGO is DOCUMENTED, REGISTERED AND OBTAIN CERTIFICATE OF OWNERSHIP/TITLE OF WARRANTY and program in buyers name AT LONDON SHELL SCREEN AND TOWERS. PASSWORD ISSUED TO BUYER FOR VERIFICATION ON SHELL SCREEN.
    *11 BUYER Conducts Inspection ON VESSEL UPON ARRIVAL and GET CIQ report
    *Vessel sails to BUYERS STORAGE LOCATION AND COMMENCE DISCHARGE.
    * 12 Within 72 hours after discharge of crude oil at Buyers port of destination/STORAGE, the Buyer pays for the crude oil as per the Final Q & Q Report issued by independent inspector at the port of discharge.
    * 13 Payments are made by MT103/SWIFT wire transfer directly to the sellers authorized beneficiary nominated bank accounts and commission agents as stipulated in the IMFPA in this contract within 72 hours after
    Product delivery to buyers nominated port of discharge against presentation of stated shipping documents, Q& Q reports, commercial invoice ETC (non-negotiable copies) at buyers bank

  2. Dear Sir.

    We seek the following commodity for our clients in China. Please take note of the procedure very well as this is for a first time loaded cargo then afterwards, other arrangements will follow. This is just for the basis assurance that seller is capable and big enough to do the following:

    COMMODITY: NIGERIAN LIGHT CRUDE
    ORIGIN: NIGERIA
    QUANTITY: 6M BARREL PER MONTH
    DESTINATION PORT: CIF QINGDAO SEAPORT, SHAN DONG PROVINCE CHINA
    PAYMENT: TT PAYMENT AFTER VESSEL ARRIVED AT DESTINATION SEAPORT, BG/SBLC ICBPO CAN
    BE ISSUED FOR PAYMENT GUARANTEE BASIS FOR COMPLETE SHIPMENT DOCUMENTS:

    1. Certificate of Origin
    2. Certificate of Quality Report
    3. Certificate of Quantity Report
    4. Master’s Receipt for Documents
    5. Certificate of Authenticity
    6. Cargo Manifest
    7. Certificate of Ownership
    8. Master’s Receipt for Samples
    9. Authority to Sell (ATS)
    10.Clean Ocean Bill of Lading
    11.TANKER ULLAGE REPORT
    12. SGS INSPECTION REPORT
    13. VESSEL Q88
    14. Seller’s Commercial Invoice.

    Transaction Procedure for vessel on water:

    A. Seller issues draft contract. Buyer and seller sign and seal the agreement exchange copies via facsimile or electronic mail. The electronically transmitted
    copy signed and sealed by both parties shall be considered legally binding and enforceable. SPA lodged to buyer’s and seller’s banks.

    B. Seller provide following shipping documents copies to Buyer as:
    1. Certificate of Origin issued by NNPC
    2. Certificate of Quality Report,
    3. Certificate of Quantity Report,
    4. Master’s Receipt for Documents,
    5. Certificate of Authenticity issued by NNPC,
    6. Cargo Manifest,
    7. Certificate of Ownership,
    8. Master’s Receipt for Samples,
    9. Authority to Sell (ATS),
    10.Clean Ocean Bill of Lading,
    11.TANKER ULLAGE REPORT ,
    12. SGS INSPECTION REPORT,
    13. VESSEL Q88,
    14. Seller’s Commercial Invoice.

    C. Buyer issues SWIFT MT760 BG/SBLC/ICBPO with 366 days to seller’ bank cover 2M Barrel amount after verification seller’s shipping documents
    D. Upon verification by Seller’s banker While the vessel is on its voyage from Nigeria, Seller change the consignee name to buyer. And in same time seller guides captain to sail the vessel to QING DAO seaport China.
    E. Within 24 hours of vessel arrival, seller shall instruct the vessel Master to issue an ATB to the BUYER’s inspector. The BUYER’S inspector shall board the loaded
    vessel for Q&Q inspection at buyer’s destination port at Buyer’s expense. Buyer’s Inspectors/Inspection team conduct Quality and Quantity inspections for analysis, at Buyers expense, and the report is sent to both Buyer and Seller. In same time seller send power of attorney to buyer for custom clearance.

    F. Within three (3) international banking days of confirming that the Buyer and Seller are in receipt of the Buyer Inspector’s Q&Q Report the BUYER’s bank shall issue SWIFT MT 103 to the SELLER’S bank upon receipt of the commercial invoice based on actual volume delivered and inspected.

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