Buyer: September 01, 2023
Attn.:
We, ------------, represented by Mr. -------- ------------, hereby confirm with full corporate
responsibility, that we are ready, willing and able to enter into a sales purchase agreement for
the below mentioned commodity;
Commodity : Nigeria Light Crude Oil (BLCO)
Quantity : 2 million barrels
Term : Spot + rolls & extensions
Delivery : CIF Europe/United States of America/Middle East
Price : DTD Brent Minus USD $3.00
Payment : MT103/TT
CIF PROCEDURES
1. Buyer issues ICPO with full banking details.
2. Seller issues Pro-forma invoice or SPA for Buyer to sign and return.
3. Buyer provides full port and agent details for NOR/ETA.
4. Within 10 days, Seller program, loads and send full cargo shipping documents to Buyer.
5. Vessel master issues NOR/ETA and set sails to Buyer�?�´s port of discharge.
6. Buyer issues commitment to pay (MT199) upon Q & Q report at port of discharge.
7. On arrival, vessel master issues NOR/ATB for inspector to board for quality & quantity
test.
8. Upon inspector�?�´s quality & quantity report, Seller issues commercial Invoice for Buyer to
make payment via MT103/TT
9. Discharge commences into Buyer s storage tanks.
10.Upon confirmation of payment, Seller transfers title.
