SALES AND PURCHASE AGREEMENT
NIGERIAN LIGHT CRUDE
OIL
FOB
This
Agreement is entered on 24 / 07 / 2009 between
FRANKDIVINE
GLOBAL SERVICES LTD
AND
(Hereinafter referred as the Seller)
BUYER
PROOF OF PRODUCT
EXPORT PERMIT LICENCE
EXP. T/28/VOL.4/2018
BULK APPROVED MPR REF NO.
DPR/DS/CTO/2018/VOL./81/069
QUANTITY OFF TAKE: 2,000,000.00 BARRELS MONTHLY
TOTAL QUANTITY OF
BULK APPROVED: 26,829,000.00 BARRELS
CONSIGNOR: NNPC/JV
CONFIRMABLE ON SHELL SCREEN LONDON & BONNY
TERMINAL
OPERATIONS
(Hereinafter referred
as the Buyer)
WHEREAS
The seller hereby
confirms having sold and the buyer hereby confirms having purchased.
Commodity:
Sellers agree to sell
to the buyer the petroleum product, Bonny Light Crude Oil of whose
specifications should meet NNPC export standard and Buyer makes an
irrevocable firm commitment to buy, and pay for same product.
Quantity:
+/-Two Million
Barrels (2MBLS) shall be delivered on TTT BASIS.
Delivery
In single slot of +/-
Two Million Barrels (+/-2MBLS).
Destination:
TTT
Price:
The Price to be paid shall be based on the
loaded quantity of Crude Oil for each shipment based on standard barrels
and under “Dated Brent” as in the Platt’s Oil gram Report. The
applicable currency in respect of payment for the Cargo shall be the
United States Dollars (USD). The price shall be calculated on the three
(3) days average mean quotation, one day before the day of loading, the
day of loading, and the day after the loading.
Delivery
The terms of the delivery for this agreement
shall be TTT .Any terms not covered by this agreement shall be covered
by INCOTERMS 2000 for TTT sales.
The parties also hereby agree that the Buyer
should notify the Seller with the entire necessary vessel’s information
that will enable him (the seller) to program for loading in a timely
manner by keeping contact with the vessel and knowing its exact ETA (AS
MIGHT BE REQUIRED BY THE SELLER).
Procedure:
1. Buyer and Seller execute, sign and seal
the agreement and exchange copies via facsimile or electronic mail and
copy to the respective bank.
2. Buyer issues to Seller vessel CPA, Q88,
security clearance and ATL.
3. Seller confirm buyer vessel and send NOR.
Seller programs & load vessel and issues loaded cargo documents endorsed
by vessel marine captain.
4. Buyer confirms loaded cargo docs and conducts
Q & Q inspection.
5.
Buyer issues a DLC or BG in favor of Seller
6. Full shipping documents are collected and
delivered to the Buyer via Buyer's bank to effect payment.
7. Payments are made by SWIFT wire transfer
directly to the Seller's and Intermediaries nominated Bank Accounts,
8. Payments are confirmed and vessel sails.
a. Payment
shall be made on completion of each supply on out-turn quantity
+/-2MBLS, and the presentation of the certificate of quality,
certificate of quantity, seller’s invoice.
NOTE: NO CONTACT WITH SELLER’S OR
BUYER’S BANK WITHOUT PRIOR WRITTEN APPROVAL.
INSPECTION
Buyer shall appoint independent inspectors that
are acceptable to the seller and whose quantity and quality certificate
shall be firm and final and shall be binding on both parties.
DECLARATION
a. That the
parties fully understand all the terms and conditions of the Agreement
and bind themselves to same, effective from the date of signing and a
copy of which will be given by the seller and buyer to their respective
banks after.
By signing this
Agreement in the places provided herein below, the Buyer and the Seller
agree to be bound by the provision hereof.
In witness thereof, both parties hereof have
signed and dated this contract with the corporate sealing respectively
on the date mentioned above.
SELLER NAME:CHIEF f. UCHE
TITLE:
(CEO)
COMPANY:
FRANKDIVINE GLOBAL SERVICES LTD
DATE: 24 / 07 / 2009
BUYER NAME
TITLE
COMPANY:
DATE:
SIGN/SEAL
SIGN / SEAL:
RGDS
SUMARDI
E-mail:adimuliacoal@yahoo.com
+6281254412414 (sms / msg only)
Re: WANTED:Light Crude
Oil (300,000 MT/month) |
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