1.Buyer sign contract and return it with supercargo detail, and inspector information info and ATB format, also Buyer should authorize his to issue a BANK DRAFT OF THREE MILLION in favour of seller to board buyer supercargo only, Then send a scanned copy by swift to seller Bank.
2. Seller confirms buyer details of bank draft and then issue Marine ATB from the vessel domain to buyer and Board buyer supercargo to confirm loaded vessel that upon buyer confirmation of loaded vessel.
3. Upon buyer confirmation of the loaded vessel seller cashes buyer bank draft of three million for his logistics, Buyer authorize his bank to block fund of five hundred thousand dollars in buyers account in favour of seller,(NOTICE MONEY IS BLOCK IN BUYERS ACCOUNT) Then send a scanned copy by swift to seller Bank.
4. Seller confirm buyer block fund and clears the loaded vessel and moves it to Ghana water for Quality and Quantity at seller’s expense. Then issues naval clearance also rent a naval gun boat to buyer, Then put Buyer’s inspection team and supercargo on board the loaded vessel to conduct Quality & Quantity, after successful conduct of Q/Q, then buyer inspection team send SGS report to buyer for confirmation.NOTICE THAT THIS SELLER LOGISTICS CAN ONLY BE CASHED WHEN VESSEL ARRIVES GHANA WATER AFTER Q&Q
5. Buyer confirms SGS report, Then seller cashes the five hundred thousand dollars for his logistics which will be deducted from the total cost of the product.
6. Then Buyer authorise his bank to place full Letter of Credit or MT103 for the total product or cargo divisible, transferable, and operable to seller it must be bank to bank and then buyer’s bank sends a scanned copy by swift to seller’s bank.
7. seller confirm buyer Letter of Credit or MT103 for the total product or cargo, then clears loaded vessel, move the loaded vessel to Ghana international Water, Upon Receipt Of Clearance, Captain Move The Loaded Vessel To 10-12 nautical miles Ghana International Water And Makes Announcement In Favour Of Buyer at international water for final payment.
8. Buyer make arrangement to make full payment for the total product, all agents and facilitators (brokers) for both buyer and seller sides.
9. Seller makes arrangement with vessel handler for buyer to take over the loaded vessel in Ghana international water.
10. after 5 above, the Buyer’s LC or MT103 turns to liquid cash and then Buyer makes full payment for the total cargo and all agents and facilitator both on buyer side and seller side
11. Seller hand over the entire loaded cargo document to buyer
12. Loaded vessel sails to buyer’s port of discharge End of transaction.
FOR A RWA BUYER ONLY