Seller issue SPA Contract with the loaded cargo copies shipping documents Proof of Products (POP) loaded in the name of The Petroleum Products Marketing Company (PPMC) a wholly owned downstream subsidiary Business Unit of The Nigerian National Petroleum Corporation (NNPC).

Buyer & Seller Sign & Seal this contract agreement and exchange the signed copy by both Parties is considered legally binding and enforceable.

Within 24hours Seller issue Letter of Authorization to the Buyer for payment by swift wire transfer the sum of $250,000USD (Two Hundred and Fifty Thousand US Dollars) inspection logistics fees with Reassignment / Transfer of Ownership of the Products 1,901,301 Barrels Bonny Light Crude Oil in Buyer’s name through the officers in Charge of Marine and Shipping Department Bonny Offshore Terminal to our Port Logistics Agent CHUANJIU CO., LIMITED for record purposes and accountability to The Crude Oil Marketing Division (COMD) of The Nigerian National Petroleum Corporation (NNPC).
19.4 Within 48hours upon receipt of payment swift copy confirmation and verification. The Products 1,901,301 Barrels Bonny Light Crude Oil will be officially register and re-assigned to Buyer as the consignee of the Products 1,901,301 Barrels Bonny Light Crude Oil by the officers in charge of Marine and Shipping Department of The Nigerian National Petroleum Corporation (NNPC) Bonny Offshore Terminal with Authentication in Buyers name from The Crude Oil Marketing Division (COMD) NNPC.

Within 72hours of completion of the reassignment of the Products 1,901,301 Barrels Bonny Light Crude Oil in Buyer’s name.

Buyer receives the complete full set of Shipping Documents (proof of products) in favor of the Buyer as the consignee including Discharged Certificate, storage Tanks Receipt {STR] and CIQ and Q&Q/ CIQ inspection reports issued at Qingdao port.