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      You are in ::  Home > Crude > Read
Crude Oil Read
Sell :: 1041
Buy :: 275
News :: 46
Count : 32
BLCO - TTO COTONOU WATERS - NAIRA TRANSCATION 2018-04-17
 
TTO PROCEDURE (COTONOU WATER)
DISCOUNT: #44/4

1. BUYER AND SELLER SIGN AND SEALS THE SALES PURCHASE AGREEMENT WITH FULL BANKING DETAILS AND FORWARD SAME TO THEIR RESPECTIVE BANKS. (ELECTRONIC SIGNED COPIES ARE BINDING, ENFORCEABLE AND CAN NOT BE CHANGED).

2. BUYER SIGN AND RETURNS SPA WITH ATB FORMAT, NNPC REGISTERED SUPERCARGO AND INSPECTOR DETAILS AND RAISE A N10,000,000 MILLION NAIRA DRAFT OR BANK MANAGER’S CHEQUE CASHABLE AFTER CONFIRMATION OF NOR. NOTE: THE ORIGINAL COPY TO BE GIVEN TO ANY BRANCH MANAGER OF STANBIC IBTC BANK PLC NEAR BUYER.

3. UPON RECEIPT AND CONFIRMATION OF BUYER'S MANAGER'S CHEQUE, SELLER ISSUES M/NOR, FROM SELLER NOMINATED SUPER CARGO TO BUYER, BUYER'S SHIPPING AGENTS, AND COTONOU PORT CONTROL.

4. BUYER CONFIRMS THE M/NOR AND ISSUES BLOCKED FUND OF THE SUM OF #100,000,000. (ONE HUNDRED MILLION NAIRA) WITHIN 48 HOURS IN FAVOR OF SELLER.

5. SELLER CONFIRMS THE BLOCKED FUND BLOCKED IN HIS FAVOR AND MOVES THE VESSEL TO COTONOU.

6. UPON ARRIVAL @8-10 NAUTICAL MILES COTONOU WATER, SELLER MAKES ANOUNCEMENT OF THE VESSEL TO COTONOU PORT CONTROL AND BUYER'S SHIPPING AGENT CLEARS THE VESSEL AT BUYER'S COST WITHIN 24 HOURS.

7. SELLER ISSUES M/ATB TO BUYER SUPER CARGO AND INSPECTION TEAM TO COME ON BOARD THE VESSEL FOR ATTESTATION WITHIN 24 HOURS.

8. UPON CONFIRMATION OF CARGO AND ATTESTATION BY SUPERCARGO, BUYER PAYS THE #100,000,000 (ONE HUNDRED MILLION NAIRA) TURNS INTO CASH IN SELLER’S ACCOUNT.

9. BUYER'S INSPECTION TEAM CONDUTS Q&Q AND RETURNS WITH THE REPLY SENT TO BOTH SELLER AND BUYER'S BANK IN 24 HOURS.

10. AFTER SUCCESSFUL Q&Q RESULT, BUYER PAYS FOR THE ENTIRE CARGO LESS #100M (ONE HUNDRED MILLION NAIRA) FROM TOTAL COST OF CARGO WITHIN THREE WORKING DAYS AND ALL AGENTS AND MANDATES ARE PAID SIMULTANEOUSLY BY BUYER.

11. SELLER TRANSFERS ALL TITLE TO BUYER.
12. SELLER’S INTRODUCES BUYER TO VESSEL OWNER TO PLACE CHARTER.

+60166955412
 
 Contact Information
Name   Mr. Joe C.Y. 
Company   Member : JP INT'L PTY LTD 
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