KEBCO / Blend Crude Oil
Origin Kazakhstan
Price - $11
Tanker in water (TTO procedure)
QUANTITY: 800.000 bbls
Vessel THYA IMO: 9283289

1) The Buyer issues an LOI or ICPO (preferably ICPO) with a bank POF attached (preferably a BCL)

2) The Seller issues a draft SPA along with a proforma invoice for the total cargo value. The Buyer and the Seller sign the SPA and proforma invoice and lodge it in their banks.

3) The Buyer issues a pre advice for the issuance of a BG or LC from a top rated european or asian bank

4) The Seller submits the full set of cargo and vessel documents to the Buyer

5) The Buyer issues a BG or LC upon acceptance of the cargo and vessel documentation

6) Upon acceptance of the BG or LC, the vessel sails to the Buyers designated location in order to conduct a Q&Q test

7) Upon a satisfactory Q&Q test and acceptance of the final documentation (q&q analysis, final commercial invoice, etc.), the Buyer pays for the cargo via TT/MT103

8) Vessel commences discharge