Robert Nemeth

Acting as agents for buyers of Crude oil from NigeriaBonny Light Crude Oil (BLCO) Because of all the fake sellers out there the Buyer has a set of Procedures that we work with. before they sign a SPA they need to see if the Vessel is where you say it is, can you Please send the Vessels Details to confirm?NEW Procedure: Please see if sellers can work with these procedures.1. Seller and Buyer sign and seal Sales and PurchaseAgreement (SPA) electronically. Both Parties lodgehard copies of the documents in their respectivebanks.2. Seller/Seller�� Bank shall issue to Buyer/Buyer��Bank verifiable copies of SGS Q&Q Inspectionreport or equivalent, and Vessel�� CPA in the nameof the Seller.3. Seller issues to Buyer/Buyer�� Inspectors areassigned MARINE ATB from Vessel Captain.UPON THE RECEIPT OF THE REASSIGNED MARINEATB IN FAVOR OF THE BUYER/BUYER��INSPECTORS AND CONSEQUENT VERIFICATION /CONFIRMATION.4. Buyer�� Inspectors board Seller�� vessel for Q & Qassessment. Quality and Quantity test is confirmed.5. BUYER bank shall within seven (7)-ten (10)business days issue via swift an operative, Non divisible,NON-transferable Documentary Letter ofCredit (DLC) in favor of the Seller to Seller�� bank.6. Buyer confirms Re-Charter of Vessel. The details ofthe vessel owner shall be as in the CPA and Q88provided by Seller.7. After inspection, Payment instruments for both thecargo and the vessels are placed separately - theDLC for the Cargo to the Seller and the DLC for thevessel charter to the vessel owner.8. Documentation in Buyer�� name is done andpayment effected on the basis of Q&Q inspectionreport.9. Vessel sails to destination (Vessel will not beallowed to sail until Bank confirms payment).