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Energyne Corporate Offer - Blco Cif Procedure Aswp DLC (19102022)

Energyne is a petroleum brokerage firm that represents an export company specializing in crude oil and refined products from Nigeria. As the official agent, Energyne facilitates negotiations between buyers and sellers, handles documentation, and acts as the paymaster. The process involves Energyne assisting with agreement terms, signing confidentiality agreements, the buyer issuing a letter of intent, a sales agreement being signed, letters of credit being issued, shipping arrangements being made, inspection and payment occurring, and additional sales taking place without delay.

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Noora and Waleed
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653 views2 pages

Energyne Corporate Offer - Blco Cif Procedure Aswp DLC (19102022)

Energyne is a petroleum brokerage firm that represents an export company specializing in crude oil and refined products from Nigeria. As the official agent, Energyne facilitates negotiations between buyers and sellers, handles documentation, and acts as the paymaster. The process involves Energyne assisting with agreement terms, signing confidentiality agreements, the buyer issuing a letter of intent, a sales agreement being signed, letters of credit being issued, shipping arrangements being made, inspection and payment occurring, and additional sales taking place without delay.

Uploaded by

Noora and Waleed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Meeting the demands of global energy needs

www.energynecorp.com

CORPORATE OFFER
CIF PROCEDURE FOR ANY SAFE WORLD PORT

Energyne, LLC, a Michigan, U.S.A. based company formed in April 2011, is a commodity marketing and
petroleum energy brokerage firm, facilitating efficient trade and delivery of petroleum products, with
extensive experience in the petroleum industry, contract formation, negotiation and drafting, and deal
facilitation. Our team, which includes in-house legal counsel, has agents and contacts globally.

Energyne acts as official agent to represent an import and export company specializing in crude oil and
refined petroleum products, buying, reselling and occasionally funding and representing major producers
and consumers globally. They have secured the authority and quarterly allocations to sell from NNPC
Limited, formerly the Nigerian National Petroleum Corporation (NNPC). They have also established an
extensive and substantial network to procure, market and deliver crude oil and petroleum refined
products.

As official agent, Energyne represents our supplier in negotiations with third parties, and in particular
buyers of crude oil and refined petroleum products. We handle introductions, negotiations,
documentation, and paymaster functions.

All queries relating to the supply of BLCO as outlined in this Corporate Offer, or any services provided by
Energyne, should be addressed to our trade desk, at [email protected].

Product: Nigerian Bonny Light Crude Oil (BLCO)


Seller: NNPC Limited through [Energyne supplier]
Price Discount/Commissions: $10 gross/$6 net ($2 buyer side commission/$2 seller side commission)

1. Energyne, as Facilitator, coordinates and assists negotiation and agreement of Seller and Buyer re:
key sale and purchase agreement (SPA) terms (product, quality, quantity, price, commissions,
delivery terms, performance guarantee, payment). Certain standard contractual terms appearing in
the SPA are not summarized here.
2. The Parties sign Energyne’s Confidentiality, Non-Circumvention, Non-Disclosure Agreement (NCNDA).
3. Buyer issues an ICPO or LOI addressed to “NNPC Limited through [Energyne supplier]” to confirm
Buyer acceptance of Seller’s price and procedure. The ICPO or LOI must include the name and
coordinates of Buyer’s Bank (each Party must use an internationally-recognized bank capable of
providing the services contemplated in the SPA and acceptable to the other Party).
4. After acceptance of Buyer’s ICPO or LOI, Seller issues Energyne-approved draft SPA for Buyer’s
review.

e-mail: [email protected] | web: www.energynecorp.com | phone: +1 (313) 367-1527


Global HQ: 19785 West 12 Mile Road, STE 414, Southfield, MI 48076, USA
Meeting the demands of global energy needs
www.energynecorp.com

5. After any required modifications, the SPA is signed by the Parties.


6. Buyer’s Bank issues to Seller’s Bank a PRE-ADVICE via SWIFT MT705 confirmation of RWA to issue a
documentary letter of credit (DLC) (stating value and term of DLC), and Seller’s Bank responds stating
RWA to receive DLC and confirming RWA to issue 2% performance bond (PB).
7. Buyer’s Bank issues to Seller’s Bank via SWIFT MT700 the DLC, and Seller’s Bank, immediately after
receipt and successful validation of the DLC, issues the PB to Buyer’s Bank.
8. The Parties exchange required shipping information, including CIS (insurance) and shipping/port
agent details. Standard ATB/NOR/ETA format to be used by vessel master.
9. Seller loads or assigns exclusive vessel in Buyer’s name, issues full set of customary vessel and cargo
documents to Buyer in the name of Buyer as the consignee of record, and authorizes the vessel
master to move the vessel to Buyer’s port of discharge with periodic ETA/NOR to Buyer and Buyer’s
shipping/port agent.
10. Buyer’s shipping/port agent arranges, at Buyer’s expense, to clear the vessel at Buyer’s port of
discharge (including any requirements relating to COVID-19), pay port and customs fees and duties,
and conduct SGS, CIQ, or equivalent Q&Q inspection.
11. Upon successful conclusion of SGS, CIQ, or equivalent Q&Q inspection, inspectors release report to
the Parties, and Seller issues a commercial invoice to Buyer.
12. Buyer immediately makes full payment for cargo via SWIFT MT103 (cash wire transfer) sent by
Buyer’s Bank to Seller’s Bank.
13. Seller confirms receipt of payment by Seller’s Bank and immediately authorizes vessel master to
discharge cargo into Buyer’s storage tank.
14. Seller pays commissions to all agents involved in the transaction pursuant to the contractual
agreement.
15. Seller and Buyer, as agreed in the SPA or as they may agree subsequently, will supply and purchase
additional product without interruptions or delays.

© Energyne, LLC 2021-2022 – All rights reserved. Reproduction in whole or in part requires the written permission of Energyne, LLC. [191022]

e-mail: [email protected] | web: www.energynecorp.com | phone: +1 (313) 367-1527


Global HQ: 19785 West 12 Mile Road, STE 414, Southfield, MI 48076, USA

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