Simcol Petroleum Nigeria Limited
Transaction Framework
A structured, refinery-aligned engagement and execution flow for export-focused refined product transactions.
The SIMCOL transaction framework is structured to align refinery execution, regulatory compliance, and international trade finance expectations. Progression is conditional on documentation, compliance alignment, and (where required) financial instrument readiness.
Required Buyer Inputs
Submit the information below to accelerate eligibility review and reduce execution friction.
Corporate & Authority
- Legal company name, registration details, and operating address
- Authorized signatory details + proof of authority
- Beneficial ownership / directors (as required for KYB)
Purpose: reduce compliance friction and enable faster refinery/seller eligibility confirmation.
Commercial Request
- Product: Jet A-1 or AGO (WAF spec GO)
- Quantity + preferred lifting structure (spot / term, if applicable)
- Delivery basis: FOB or CIF + destination / discharge location
- Loading window / timing requirements
Purpose: reduce compliance friction and enable faster refinery/seller eligibility confirmation.
Compliance & Counterparty
- End-buyer details (if applicable) + mandate confirmation
- Sanctions/compliance alignment (jurisdiction + screening readiness)
- Trade references (optional but helpful for first transaction)
Purpose: reduce compliance friction and enable faster refinery/seller eligibility confirmation.
Financial Readiness
- Banking pathway confirmation: LC / SBLC / PB (as required)
- Proof of funds / bank comfort where applicable
- Acknowledgement: any required PB/deposit is buyer responsibility
Purpose: reduce compliance friction and enable faster refinery/seller eligibility confirmation.
Step 1 — Buyer Onboarding
01Initial buyer introduction and corporate profile exchange. Buyer confirms mandate, end-user (if applicable), and target lifting requirements.
Step 2 — KYC / KYB Documentation
02Buyer submits KYB/KYC pack and confirms signatory authority. Documentation is reviewed for compliance alignment prior to commercial progression.
Step 3 — Commercial Request Submission
03Buyer submits a formal product request (Jet A-1 or AGO/WAF spec GO), quantity, delivery basis (FOB/CIF), loading window, and destination/discharge details.
Security instruments and performance guarantees are handled in accordance with refinery counterparty requirements and international trade practices.
Step 4 — Refinery Engagement
04Simcol engages the refinery/seller counterparty to confirm process eligibility, allocation pathway (where applicable), and required preconditions. Buyer acknowledges that any required performance bond/prepayment/deposit is a condition precedent and remains the buyer's responsibility.
Step 5 — Indicative Process Alignment
05If eligible to proceed, parties align on process checkpoints: documentation completeness, compliance readiness, financial instrument pathway, and indicative timeline. (Commercial terms are not discussed until prerequisites are satisfied, where required by the seller/refinery.)
Step 6 — Financial Instrument Readiness
06Buyer confirms banking readiness and prepares required instruments (e.g., PB / LC / SBLC where applicable) in alignment with seller/refinery requirements and transaction basis (FOB/CIF).
Step 7 — Contracting (SPA)
07Parties proceed to SPA issuance and review. Execution timeline, obligations, and documentary requirements are confirmed in writing in accordance with seller/refinery process.
Step 8 — Shipping & Logistics
08Vessel nomination (if applicable), inspection protocol, shipping schedule, and discharge planning are coordinated subject to transaction basis (FOB/CIF) and SPA terms.
Step 9 — Loading, Documentation & Handover
09Loading and documentation handover are completed per SPA. Post-loading document package is shared for banking processing and cargo release workflows.
Ready to submit a buyer request?
Proceed to the Dubai execution desk checklist and contact details.