SALES & PURCHASE AGREEMENT/CONTRACT
" BONNY LIGHT CRUDE OIL” TTO
BONNY FATAL NIGERIA”
FOURTEENTH December, 2012
Seller's Ref: Colonel/sil/2012/10
This Contract arrangement is entered into this 14 December 2012
STOWVAT INVESTMENTS LIMITED
established underneath the laws of Federal Republic Nigeria which will registered treat, is situated by NNPC Workplace, Bonny Isle, Bonny and which is represented by System Operators in his capacity because the LOADER as appropriately authorized, hereinafter known as " The Seller”, (which assertion shall, in which the context thus admits consist of its replacement, beneficiary in title and assignees of the
second part. ), AND
Because the Buyer/Rep of the business and as properly authorized, hereinafter known as " The Buyer”,
While the Seller with full power, hereby wants to supply and deliver the thus under stated crude oil and fulfill every one of the requirements referred to herein and shall provide the referenced primitive under the conditions and at the times so arranged by the two (2) functions hereto.
Although the Buyer hereby agrees to fulfill the requirements since referred to herein and shall purchase, pay and consider delivery for all those shipments of full cargo of item " Nigerian Crude Oil” described beneath and beneath the terms and conditions hereunder, at the time therefore agreed by two (2) parties hereto:
It is now hereby arranged that the retailer shall promote and the purchaser shall choose the product as stated, under the next terms and conditions:
Site 1 of 10
Seller's SignBuyer's Sign
1). MERCHANDISE / BEGINNING AND TOP QUALITY.
1 . The product sold / purchased under this deal is Bonny Light Crude Oil.
2 . Source - Nigeria.
The quality or grade of crude oil underneath this contract shall conform to NNPC technical specs.
2). AMOUNT. 280, 000mts (2MILLION BARRELS of BLCO)
2 . 1 ) The total level of crude oil sold / acquired under this kind of contract is definitely 280, 000mts.
3). DELIVERY TERMS.
1 . The delivery basis pertaining to the freight sold underneath this deal shall be TTO Basis (Inco terms most recent revision)-
4). QUANTITIES AND QUALITY DETERMINATION/INSPECTION.
1 ) An Inspection firm SGS/Say bolt or any different inspection business will execute the inspection at buyer's expense following seller issues ATB with to ensure the top quality and volume of the shipment.
5). SHIPPING AND DELIVERY TERMS AND VESSEL CANDIDATE SELECTION.
1 . The customer expressly concurs with that he can take delivery of the exposed cargo TTO Basis.
1 . All demurrage charges with the loading dock are intended for the Seller's account in the event caused by the Seller vice australian visa.
1 . The PRICE $12. 00 less money off of $2. 00 per barrel being shared while Commission towards the Buyer's Agent/Facilitators ($2. 00) AND Seller's Agent/Facilitators ($2. 00) respectively
2 . The Platt quotes shall be three (3) progressive, gradual mean quotes centred within the loading day.
3. In the event that loading date falls on a Saturday or holiday or a non-publishing day time the successful date intended for pricing purpose shall be this business day.
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Seller's SignBuyer's Indication
4. The retail price per clip or barrel shall elevate or de-escalate by CHF 0. 0012 per 1 tenth (1/10) of each API degree previously mentioned or listed below API thirty-three to thirty seven at sixty Deg. Farreneheit.
8). CONDITIONS OF PAYMENT.
1 . The payment will be made at sight upon presentation to the seller's traditional bank, one original and 3 copies with the following files:
a) Initial Commercial Inviolés plus (3) non-négociables replications. b) Qualification of Top quality (SGS/Say bolt)
c) Certificate of Amount (SGS/Say bolt)
d) Certificate of Country of Source.
(e) Cargo Inspection Survey.
(f)Tanker Time Sheet....