Please only contact me if your buyer has agreed to the following procedure
1. Seller sends Sales Purchase Agreement (SPA) contract to Buyer & Buyer signs the SPA and returns to seller within 4 days. Within 24 Hours Seller gives Buyer Letter of Confirmation and Acceptance. The electronically signed copies by both parties are considered legally binding and enforceable.
2. Within 24 Hours Seller is provided with Port Clearance (Confirmation from Customs that Buyer can bring in a Vessel) along with Harbour Master’s full contact and NOR/ATB format.
3. Within 48 Hours Buyer's bank pre advice ( Buyers Choice of Swift Message ) Seller’s bank stating Buyer will immediately send Seller MT760 SBLOC upon receipt of 2% Performance Bond from Seller covering one vessel.
4. Seller Bank responds and sends Buyer non-operative 2% Performance Bond.
5. Buyer within 72 hours, issues operative MT760 SBLOC in favour of the Seller’s nominated account covering full Cargo for one vessel (100,000 000 USD). Upon receipt 2% Performance bond is activated.
6. Then Vessel Captain issues a valid NOR/ETA including Captain’s Name, Contact Data (Telephone, Email) of vessel as shown on NOR/ETA to Buyer’s Port of Discharge.
7. The Seller's vessel shall set sail and shall send its’ updated notification of arrival date (NOR) before arrival and until exact arrival date. While cargo documents is raised in buyer's name including ATS.
8. Upon the arrival of the cargo for final quantity and quality (Q&Q) inspection at the Buyer's discharge Port, Buyer shall be responsible to clear Vessel to a location that would be easily reached by its SGS/substitute inspection company and the Vessel Master shall issue its’ Authority to Board (ATB) to the Buyer for their appointed SGS/substitute Inspection team and Buyer’s appointed representative to board as per Buyer's instructions.
9. Buyer makes payment by SWIFT MT103 to seller’s nominated account as per contract after satisfactory Q&Q report of copies issued to Refinery/buyer/seller simultaneously within one (1) banking day after SGS inspection of the final quantity and quality (Q&Q) of crude oil in the oil tanks onboard the ship at the destination port of the buyer and buyer also pays all Commissions as in IMFPA or in SPA while discharge of cargo into buyer’s storage facility commences.
10. Seller confirms payment in its’ account and all original shipping documents, commercial invoice including WOT are dispatched to buyer for onward submission to its bank, while discharge of cargo into buyer’s storage facility is being conducted.