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Category: Financing

Performance Bond For Bonny Light Crude Oil

Nearly all procedures in a Sales Purchase Agreement (SPA) between a seller and a buyer call for the seller’s bank to issue a financing instrument such as DLC-MT700 or SBLC-MT760 first. These LCs trade drafts, not time drafts, and are non-operative, meaning they are not yet active and confer no obligation to the buyer’s bank […]

Alex Nouri March 31, 2018 Financing No Comments Read more
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Bonny Light Payment Guarantee

This article serves to shed light on one of the most basic, yet misunderstood, aspects of payment for a crude oil transaction, in particular for Nigerian Bonny Light crude oil. In every Sales Purchase Agreement (SPA), the stipulation is for a buyer’s bank to issue and send to the seller’s bank either an SBLC-MT760 or […]

Alex Nouri February 12, 2018 Financing No Comments Read more
Posted in FinancingLeave a comment

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  • Bonny Light Crude Oil Journey
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