CHIOMANATURAL ENERGY INVESTMENT FIRM LTD.
SUITE 14, KAKU PLAZA KIKUYI CLOSE, WUSE II ABUJA FCT. Tel: 09098888702
Email:info@chiomaenergy.com, rt.thomas@hotmail.comWebsite:chiomaenergy.com
Date:
OFFICIAL CONTRACT OFFER AND APPOINTMENT AS JV PARTNER TO CREATE EXIT MARKETS IN LINE WITH APPROVED PURCHASE TERM SHEET
For purpose defined the stipulation of the offer as below:
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Seller/Principal Partner's NNPC Registered Codes: |
Export No: EXP.T/128/VOL.41/2349. EACH-P.A) BLCO M.P.R. Bulk Ref No: DPR/DS/CTO/2022/VOL.89/093. NNPC Contract No: ATC Code: |
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Transaction Code |
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Seller/Principal Partner Name and Address. Company Officer: Department/ Title: |
Chioma Natural Energy Investment Firm. United States: Suite 3617 Gainesway Court Duluth, GA 30096 Nigeria: Suite 14 kaku plaza Kikuyu Close, Wuse II, Abuja FCT. RT Thomas. (MD/CEO) And (Secretary/Treasurer) |
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Products |
NNPC Regulated Export Blend Bonny Light Crude Oil [BLCO] of off OPEC Allotment and or DPR/PPMC SPECS Petroleum finished products. |
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Proof of Product |
As State in The NNPC Allocation: BULK APPROVED MPR REF Nº: DPR/DS/CTO/2022/VOL.89/093. REF. CPI/CO/28/VOL.11/51. REG/LIFTING NO: EXP.T/128/VOL.41/2349. (EACH-P. A) BLCO. |
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NNPC Terminal Name |
TBD |
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Quantity / Amount |
300,000 Metric Tons. |
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Delivery Schedules |
Revolving Contract |
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Contract Term [if applicable] |
TTT |
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Buyer discharge Port |
TBA [full address will be provided] |
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Price |
Based on Platt McGraw – London Brent Price – day on, day before or day after. |
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Discount |
N64 LESS N4 – Naira |
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Special Terms |
⮚ JV Partner at its sole discretion may ensure its exit buyer engage “super cargo / service inspectorate SGS” and or any other surveyor to conduct on board vessel testing of product at loading terminal / and or at vessel GPS Locator Anchored Position within 8nautical miles off Tema Ports Ghana before TTT. Costs of such task are at Buyer’s Account. ⮚ JV Partner must require for compliance of NNPC Trade Conditions that the exit Buyer post necessary banking affirmations of Buyer Capacity to engage purchase (market standard for NNPC), and or JV Partner shall cover required logistics placement to handle operations. |
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Buyer Acceptance to Purchase |
JV Partner shall ensure Buyer purchase product on TTT basis at an agreed STS location for Q&Q. Costs of Inspection at Buyer’s account – and direct payment for total value of consignment by wire transfer within 12 Hours to SELLER/PRINCIPAL PARTNER after Q&Q Report. |
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Delivery shall be TTT and or port nominated by the exit Buyer in contract with JV Partner. Incoterms 2010® defines the transfer of risk from seller to buyer. No variation shall be made from the agreed upon terms as published. Title to, custody of and the risk of loss or damage to the cargo shall pass at the Delivery Point. At a simultaneous time the payment also must transfer. Buyer to maintain reception arrangement and facilities at the Delivery Point. |
PROCEDURE - TTT:
1. Seller and Buyer sign and seal the Contract including their banking co-ordinates and exchange the signed copy by electronic mail. The electronically signed copy by both Parties is considered legitimate and legally binding and enforceable on both Parties. Both parties shall deposit copies of the Contract with their respective Banks.
2. Buyer shall avail via Swift Wire Transfer, $USD100,000,000 [One Hundred Million United States Dollars) only to as Working Capital to facilitate all requirements precedent to the supply of products up to or above this given sum as mentioned. The Seller’s Account details to receive the $USD100,000,000 [One Hundred Million United States Dollars) only is indicated in Article 17[2] below.
3. Buyer returns the signed Contract to Seller with the followings: -
4. MNOR/ETA and MATB Format with an NNPC/NIMASA certified Supercargo’s scan copy of both Int’l and Seaman’s Passport, Discharge Log Book, Medical Fitness Certificate and any other document[s] that certifies him an able Seaman;
NOTE:
Buyer shall tender a copy of any Document in the form
of either Payment Receipt or Engagement
Letter; evidencing engagement of the services of the Inspection Company; and confirm having
engaged the services of the nominated Supercargo.
5. Inspection Company/Inspector’s details;
6. Shipping/Clearing Agent’s information;
7. The Harbour Authority/Master’s information.
8. Upon receipt and confirmation of the swift transfer of $USD100,000,000 [One Hundred Million United States Dollars) only, Seller’s Captain shall establish the regular Notice of Readiness [NOR] and/or NOR/ETA and Buyer shall confirm the MNOR and issue an acknowledgement to all Parties.
9. The Captain shall: -
a. Tender ETA and set sailing to the agreed STS Location and on arrival, make the formal announcement on behalf of Buyer and Buyer confirms announcement.
b. The Captain shall throw anchor there and issue the marine-generated Authorization to Board [MAT].
10. Within the next 24 hours, Buyer’s Inspection Team shall, at the expense of Buyer, go aboard and conduct the dip test/shore tank calibration [Q&Q certification]
11. The Buyer’s Inspector shall conduct the dip test/shore tank calibration [Q&Q certification] and take sample for analysis with a Q&Q Report to both Buyer and Seller respectively.
12. Upon receipt of Captain’s Attestation, Buyer shall:
13. Subject to the Q&Q Report, make the full and final payment for Product and Commissions simultaneously by Swift Wire Transfer and in accordance with Seller’s Final Payment Instruction in writing.
14. Upon confirmation of payment into the various accounts, Seller submits to Buyer, all relevant Cargo/Shipping Documents consigned to Buyer/PoD and Buyer, then the vessels disengage and the impregnated vessel sail to final destination Port.
Seller/Principal Partner Warrants and Document Submissions Per Shipment Shall include but not limited to:
1. Bill of Lading + Full Q88 for Loaded Vessel Identification inclusive of vessel MMSI, CALL SIGN & IMO
2. Certificate of Origin
3. Certificate of Quantity and Quality issued at load port
4. Loading Time Sheet
5. Ullage report.
6. Master Receipt of Samples
7. Master’s Receipt of Documents
8. Cargo manifest.
9. Seller’s approved status as Registered NNPC ATS [Registered Authority to Sell]
For and on behalf of:
SELLER: Chioma Natural Energy Investment Firm Limited
RT Thomas Shout B Goh
(MD/CEO) (SECRETARY/TREASURER)