Specification :

Buyer is seeking D2 gasoil, REBCO, SLCO (or other light crudes from non-embargoes countries, because buyer is a USA company, see list http://www.llnl.gov/expcon/embargoed.html), buyer can pay only with DLC (we can not pay with BG, nor SLC, StandbyLC), seller MUST provide correct POP confirmed Bank to Bank when exchanged with POF before the Contract is signed (money for DLC is automatically separated by Bank BCI for seller),
But if seller insists to sign first the Contract seller and buyer MUST sign a Penalty Letter to pay a SLC for 5 million dollars in the case that agreed procedure is not followed by any of the both sides.
And seller MUST give us Performance Bond before payment DLC is issued.
Target discounts:
*BLCO , Nigerian, 200,000 barrels per day CIF only, at minimum NET discount of $ 3.00 per barrel , seller must issue Bank Performance Guarantee as PB, offers coming from allocation holder, buyer is not willing to deal with NNPC directly.
A)SLCO , Net USD 1.80 per barrel FOB for 3 or 4 million MT per month (28 million barrels per month) when CIF discounts can be of USD 1.10 Net to buyer
B)REBCO , Net 2,5 dollars per barrel FOB for 3 or 4 million MT per month (other very similar discounts will be considered, not less than 2,2 FOB), when CIF discounts can be of USD 1.90 Net to buyer
C)D2 gasoil, Net 13 dollars per MT, only CIF to USA (other similar discounts not less than 11 Net will be seriously considered), 500.000 MT per month, per 36 or 60 months (0,2% or 0,02% or 0,05% sulphur)
And buyer is seeking offers ONLY where the seller is willing to pay a Penalty Letter of SLC 5 million dollars when the procedure agreed signed in Contract is not followed, the other alternative to avoid the signing of such Penalty Letter is to make the POP-POF bank to bank before the Contract is signed. Please ask to your seller.
We ask for all the above due to the fact that the buyer's bank BANCA COMMERCIALE ITALIANA Organized through the USA Office in Annapolis, Maryland, has a practice that is not always followed by other banks and that should be good news for the seller: when they make POF they immediately reserve the full amount dollars of the non-transferable LC for the particular contract in question against POP.
In our LOI we can give permission to seller makes Soft Proof of Funds.
Please send soft, sanitized details of your conditions, prices, quantity available, terms, specifications with detail of maximum sulphur content, Performance Bond, etc.
Note: That POP - POF must be made before to sign contract unless the FCO is at letterhead of any well known Refinery or any Government.
No Accepted Long Chain Of Brokers In The Middle