Ago

Company Info

Company Published: 2008
Online Postings: Products , Selling Leads
Country/Territory: United States
Business Type: Manufacturer, Trading Company, Agent

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Detailed Product Description

Product Need: AGO

Quantity: 100,000 metric tons per month for 12 months Contract (broken down in 2 shiipments per months at 50,000 each).

Spcification: NNPC Standard

Price: Negotiable

Delivery: CIF Lagos Nigeria

We are looking for direct supplier who can comply with our banking procedures outlined below:

Procedure:

1. The seller sends FCO to the buyer.

2. The buyers signs the FCO and returns to the seller.

3. Upon acceptance of the draft contract the buyer and seller signs the contract.

4. Seller sends to buyer final wording of the DLC with evidence of recent AGO delivery.

5. The buyers bank issues BCL

6. The sellers bank issues 2 percent Performance Bond and POP

7. Buyers bank issues 100 percent, irrevocable, confirmed, non-transferable, revolving LC for each cargo.

8. The sellers bank issues buyers bank the proof of product (full shipping documents with CPA)

9. The shipment commences as per contract and schedule.

10. The buyer releases at the same time to the seller and all brokers/agents, same time out- turn shipment delivered per slot via SWIFT fund transfer within 2/3 banking days after discharge of cargo and receipt of all relevant shipping documents.

POP documents include:
a. statement of availability of the product issued by refinery?s bank (with allocation number).
b. export license, issued by the ministry of energy.
c. export approval, issued by the ministry of justice.
d. the charter party agreements to transport the product to discharge ports. (this agreement will be issued after sellers bank has confirmed receipt of L/C.)

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