BLCO TTT 5KMT TO 100KMT WITH FREE MNOR
TRANSACTION PROCEDURE ON BLCO (TTT)
1. Buyer and Seller sign and lodge SPA with their respective banks. The electronic signed copy of SPA is considered legally binding and enforceable. Both signed SPA must be presented to their individual banks within twenty four (24) hours or one (1) banking day of SPA being issued by seller
2. Buyer to return signed SPA with NOR format/Vessel Charter details
a. Proof of vessel charter agreement
b. Email addresses of relevant people to receive MNOR
3. Once all these are confirmed and authenticated by seller, Seller issues MNOR to Buyer’s vessel
4. Buyer’s vessel open communication with Seller’s vessel for long-siding, after long siding, boarding of SC/Inspector, buyer then pays logistic of NGN50, 000, 000. 00 for security and clearance. Transshipment follows.
5. Q and Q takes place, and upon successful results, Buyer pays for the total cargo By MT 103 less NGN50, 000, 000.00 to the seller and all agents
6. NEXT TRANSACTION ON ROLLS AND EXTENSIONS.