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      You are in ::  Home > Crude > Read
Crude Oil Read
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Buy :: 147
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Count : 50
TWO MILLION BARRELS BLCO ON GHANA WATER @ 12/4 2018-10-12
 
PROCEDURE:

1. SELLER AND BUYER SIGN CONTRACT AND BOTH PARTIES LODGED IT INTO THEIRRESPECTIVE BANKS; THE CONTRACT BECOMES OPERATIONAL LEGAL AND ENFORCEABLE BINDING ON BOTH PARTIES.

2. BUYER RETURNS SIGNED SPA WITH NOR/ETA/ANNOUNCEMENT/MATB FORMART/SUPERCARGOAND INSPECTOR PARTICULARS AND ALSO ISSUE BANK DRAFT OF FIFTY MILLION NAIRA (N50,000,000.00) TO SELLER AND SEND THE HARD COPY TO SELLER’S BANK AND ALSO SEND A SCAN COPY TO SELLER FOR CONFIRMATION.
(BUYER WILL SEND THE HARD COPY TO SELLER’S BANK WITH A LETTER WRETTEN ON BUYER’S LETTERHEAD PAPPER STATING THE FOLLOWING:
a. THAT THE BANK DRAFT BECOME CASHABLE UPON SELLER MAKING ANNOUNCMENT TO HARBOR MASTER, ISSUE MATB, CLEARANCE AND BOARD BUYER’S SUPERCARGO AND INSPECTOR FOR Q&Q, AND BUYER RECEIVE ATTESTATION RESULT AND THE INSPECTOR COME DOWN WITH SAMPLE.
b. THAT THE DRAFT SHALL ALSO BECOME CASHABLE SHOULD SELLER MAKE ANNOUNCEMENT TO HARBOR MASTER IN FAVOR OF BUYER, ISSUE MATB AND CLEARANCE TO BUYER AND BUYER COULD NOT BOARD WITHIN 72HRS).

3. SELLER CONFIRMS BUYER’S BANK DRAFT, MAKE ANNOUNCEMENT TO HARBOR MASTER IN FAVOUR OF BUYER, ISSUE MARINE ATB AND CLEARANCE TO BUYER AND BOARD BUYER SUPERCARGO FOR Q&Q.

4. BUYER UPON RECEIPT OF ATTESTATION RESULT THE BANK DRAFT OF N50,000,000 (FIFTY
MILLION NAIRA) TURN CASH TO SELLER NOMINATED ACCOUNT.

5. BUYER UPON RECEIPT OF Q&Q RESULT PAYS THE SUM OF $1, 000,000.00 USD (ONE MILLION UNITED STATE DOLLARS) FOR LOGISTICS AND DOCUMENTATION TO ENABLE TERMINAL LOCK DOWN THE CARGO FOR THE BUYER BEFORE FINAL PAYMENT IS MADE BY BUYER VIA MT103 SWIFT.

6. BUYER ISSUES MT103 FOR TOTAL CARGO LESS N50,000,000 AND $1, 000,000.00 USD (ONE MILLION UNITED STATE DOLLARS) LOGISTICS FUND.

7. SELLER CONFIRMS BUYER’S MT103 AND ISSUE FULL CARGO DOCUMENTS TO BUYER IN BUYER’S NAME.

8. SELLER INTRODUCES BUYER TO VESSEL HANDLER FOR RECHARTER OF THE VESSEL.

9. BUYER UPON CONFIRMATION OF CARGO DOCUMENTS, MT103 TURN CASH IN FAVOUR OF SELLER AND ALSO PAY ALL AGENTS AND FACILITATORS.

Regards

ABU NURUDEEN

sales.ngr@gmail.com

08050997176

 
 Contact Information
Name   Mr. Nurudeen Abu 
Company   Member : N79 Global resources ltd 
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