This is to inform all clients that they should go through our procedures, our procedures is for prospective facilitators, Buyers and Mandates. Our procedures is free and fair to work with, kindly go through carefully and contacts us immediately by giving us a full details of what you really want send us a LETTER OF INTENT (LOI) address it to CRUDEOIL LINERS GROUP...
Procedures For Prospective Facilitators, Buyers And Mandates
Seller is capable of selling BLCO on any of the procedures
below.
1. APPROVED CIF PROCEDURE
1. Seller and
Buyer sign & seal SALES PURCHASE AGREEMENT (SPA) with full Banking details including their brokers Banking details both parties forward a copy of
this signed SPA contract to
their respective Banks.
2. Buyer's bank
contacts seller's bank by MT 199/799 for familiarization.
3.
Seller's bank responds with MT199/799.
4.
Buyer’s bank,
in no more than 7 banking days of execution of SPA,
issue an In-operative, Irrevocable, Standby Letter of Credit in favor of the Seller, transmitted by SWIFT MT760 to Seller’s nominated bank.
issue an In-operative, Irrevocable, Standby Letter of Credit in favor of the Seller, transmitted by SWIFT MT760 to Seller’s nominated bank.
5.
Seller’s bank in not more than 7 banking days of
receipt of Buyer’s Non-operative STANDBY BANK LETTER OF CREDIT (SBLC), shall issue a 2% performance bond
in favor of the Buyer, thereby, automatically making the SBLC operative.
6.
Seller issues information on laycan to buyer.
7.
Seller shall provide the Buyer the confirmed charter party agreement vessel and notification of estimated time of
arrival (ETA) to the buyer’s Designated Discharge Port.
8.
Loading takes place as per laycan date
and Shipping documents formalities completed.
9.
Vessel
sails.
10.
Vessel
discharges cargo at Destination Port.
11.
Payments are
made by SWIFT wire transfer directly to the Seller's and Intermediaries' nominated Bank Accounts, within two banking (2)
days after delivery of Crude Oil at Buyer's Discharge Port against
presentation and confirmation of stated shipping document.
2. OPTIONAL CIF (POP) PROCEDURE
1.
1. Seller and Buyer sign, seal sales/purchase Agreement
with full Banking details
including their brokers Banking details
both parties forward a copy of this signed SPA contract to their respective Banks.
2. 2. Buyer's bank issues Bank Performance Guarantee of
One Million Dollars to Seller's bank.
3.
3. Seller makes a Full Charter of Vessel in Buyer's
name and sends Document for Buyer's Confirmation.
4.
4. Buyer’s bank, in no more than 7 banking days of the
Confirmation of the Vessel, issue an Operative, Irrevocable, Documentary Letter
of Credit in favor of the Seller, transmitted by SWIFT to Seller’s nominated
bank.
5.
5. Seller issues information on laycan to buyer.
6.
6. Seller shall provide the Buyer the estimated time of arrival (ETA) to the buyer’s
Designated Discharge Port.
7.
7. Loading takes place as per laycan date
and Shipping documents formalities completed.
8.
8. Vessel sails.
9. 9. Vessel
discharges cargo at Destination Port.
1 10. Payments are
made by SWIFT wire transfer directly to the Seller's and Intermediaries' nominated Bank Accounts, within two (2) banking days
after delivery of Crude Oil at Buyer's Discharge Port against
presentation and confirmation of stated shipping document. Please when sending us a message kindly quote either "CIF1" or "CIF 2" so we can know the procedure you selected.
Email: crudeoilliners@gmail.com, crudeoiltransnational@gmail.com
