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      You are in ::  Home > Crude > Read
Crude Oil Read
Sell :: 765
Buy :: 147
News :: 29
Count : 236
TTO- TRANSACTION PROCEDURE Naira Deal 2mbl 2018-10-11
 
TTO- TRANSACTION PROCEDURE

1. BUYER / SELLER SIGN/SEAL 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 RETURNS THE SPA WITH HIS VALID ATB FORMAT, SUPERCARGO DETAILS AND INSPECTOR DETAILS AND TUGBOAT DETAILS FOR BOARDING.

3. BUYER’S BANK SENDS RWA THROUGH MT199 TO PAY USD 500K UPON ATTESTATION AND TO ISSUE MT103 /23 UPON QNQ. .

4. SELLLER CONFIRMS THE BUYER'S BANK RWA THROUGH HIS ACCOUNT OFFICER AND INSTRUCT CAPTAIN OF HIS 2 MILLION BARRELS BLCO LOADED CARGO IN VESSEL TO ISSUE M-NOR TO BUYER FOR BUYER’S SHIPPING AGENCY TO ACKNOWLEDGES.

5. SELLER INSTRUCT THE CAPTAIN OF LOADED VESSEL TO ISSUE ETA AND SAILS TO 10-12NM IN GHANA WATERS AND ANNOUNCES HIS PRESENCES IN BUYERS NAME TO PORT CONTROL WHILE BUYERS SHIPPING AGENT CLEARS VESSEL IN FOR EASY BOARDING.

6. SELLERS LOADED VESSEL ISSUES MATB AND CLEARANCE TO BUYER SUPERCARGO/INSPECTORS AND GOES ONBOARD AND UPON CONFIRMATION AND ATTESTATION RELEASED FROM CAPTAIN DOMAINS TO BUYER AND SELLER EMAILS, ADD UP TO $500K (FIVE HUNDRED THOUSAND DOLLARS) USD IS CREDITED INTO SELLERS ACCOUNT FOR LOGISTICS. WHY INSPECTOR DISEMBARK WITH PRODUCT SAMPLE FOR Q&Q ANALYSIS.

7. AFTER FINAL Q&Q INSPECTION REPORT, WHILE THE SUPER CARGO REMAINS ON BOARD, SELLER ISSUES INVOICE FOR TOTAL PRODUCT TO BUYER PLACES FULL INSTRUMENT. BUYERS PLACES VIA MT103/72 TO SELLERS ACCOUNT AND TO ALL COMMISSION EARNERS LESS $500K.

8. SELLER HAND OVER ORIGINAL CARGO DOCUMENT TO BUYERS BANK. BUYER MAKES FINAL PAYMENT BY WIRE TRANSFER/TT/ MT103 TO SELLER'S NOMINATED ACCOUNT, LESS EXPENSE AND TO ALL INTERMEDIARIES AS STATED ON SPA BASED ON OUT-TURN BARREL.

9. SELLER CONFIRMS BUYER'S PAYMENT AND SELLER GIVES TITLE OF OWNERSHIP TO BUYER AND INTRODUCE BUYER TO VESSEL HANDLER FOR TAKE OVER

10. TANKER TAKE OVER BY BUYER AND VESSEL SAILS TO PORT OF DESTINATION.
 
 Contact Information
Name   Mr. FAITHFUL MOSESES 
Company   Member : BESTED OIL N GAS 
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Tel   09098713075 
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IP   197.211.61.82 

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