NNPC STANDARD LIGHT PURE FUEL OIL IS AVAILABLE ON THE BELOW PROCEDURE:
TTO/TTT PROCEDURE FOR LPFO 2M BARRELS EACH –
SELLER AND BUYER IRREVOCABLY AGREE TO THE FOLLOWING PROCEDURE:
I. Seller issues contract with full banking coordinates.
II. Buyer & Seller sign and seal this contract and exchange the signed copy by electronic mail. The electronic signed copy by both parties is considered legally binding and enforceable.
III. Buyer provides his complete Vessel details CPA, Q88, Chartering invoice receipt ,ATL with MNOR format indicating buyer’s nominated inspectors information to do Q and Q .
IV. Loaded vessel’s captain issue MNOR (If necessary) to Buyers vessel captain, upon confirmation. Buyer bears the responsibility of taking sellers supercargo on board vessel and he confirms the reality of the vessel/caring for nominated hotel cost of reps, and communication is opened for loaded vessels to long side with buyer vessel.
V. upon tying up of both vessels, Buyer transfer N100,000,000 cash into Seller nominated fiduciary account to enable seller arrange for document and paid for logistics .
VI. Upon confirmation of fund transfer, seller vessel arrange transshipment in an agreed rendezvous, loaded vessels captain arrange to long side with buyer vessel to commence transhipment.
VII. Upon successful transshipment, Buyers bank makes the FULL payment for the CARGO via SWIFT TRANSFER/MT103 into Sellers bank Account and pays all the commission agents as per the accounts details in the contract /sellers commercial invoice, all payment shall be less the N100,000,000.
VIII. Seller procures all relevant shipping/cargo documents in buyers name, sellers vessel disengaged and loaded vessel moves to buyers discharge port .
XI. The Buyer gives faith of which the above-mentioned contract has not been modified nor altered in any paragraph by any person.