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      You are in ::  Home > Crude > Read
Crude Oil Read
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TTT PROCEDURES NIGERIA COTONOU/GHANA WATERS 2019-03-11
 
TTO PROCEDURES NIGERIA COTONOU/GHANA WATERS

1) SELLER ISSUE CONTRACT AND BUYER SIGN CONTRACT AND RETURN WITH NOR/ETA/ATB FORMS WITH INSPECTOR/SUPERCARGO AGENT EMAIL AND CONTACT INFORMATION. THE ELECTRONIC COPY SIGNED BY BOTH PARTIES IS DEEMED LEGALLY BINDING AND ENFORCEABLE.
2) BUYER ISSUES BANK ASSURANCE LETTER TO PLACE MT760 SBLC UPON THE
RECEIPT OF SELLER NNPC ALLOCATION/AUTHORIZATION PERMIT TO LIFT/SALE BLCO
3) SELLER RELEASES NNPCS ALLOCATION/AUTHORIZATION PERMIT TO LIFT/ SALE BLCO TO BUYER.
4) BUYER SWIFTS MT760 SBLC COVERING THE ENTIRE CARGO TO SELLERS NOMINATED FUDICIARY BANK WITHIN 48HRS UPON THE RECEIPT OF SELLER NNPC ALLOCATION/AUTHORIZATION PERMIT TO LIFT/ SALE BLCO
5) SELLER CONFIRMS THE SBLC, NOMINATES, PROGRAMMES, AND LOADS A 2 or 1 MILLION BARRELS CAPACITY VESSEL WITH BLCO AND ISSUES A MARINE
NOR/ETA WITH DOCUMENTATION IN BUYERS NAME AND FORWARD ADVANCE COPIES
TO BUYER AS WELL AS CLEARS THE VESSEL WITH FULL CARGO TO PROCEED TO COTONOU / GHANA WATERS FOR Q/Q ANALYSIS.
6) SELLERS PREGNANT VESSEL PROCEEDS AND OPEN COMMUNICATION WITH
BUYER/HANDLERS TO CONFIRM PROMPT ARRIVAL AT COTONOU/GHANA WATERS FOR Q/Q ANALYSIS
7) SELLER VESSEL BERTHS AT COTONOU/GHANA WATERS AND ISSUE A MARINE ATB INVITING BUYERS INSPECTOR/SUPERCARGO TO BAORD HIS VESSEL TO PERFORM Q/Q ANALYSIS
8) BUYER TAKES HIS INSPECTOR/SUPPERCARGO ON BAORD, SAMPLE TAKEN,
AND THE SUPERCARGO SHALL REMAIN ON BOARD THE PREGNANT VESSEL
9) Q & Q ANALYSIS CONDUCTED, BOTH BUYER AND SELLER RECEIPT OF THE Q/Q RESULT AND BUYER PAYS FOR CARGO VIA MT103 BY SWIFT AND ADVICE SELLER, OR MAY CHOOSE TO WIRE THE CASH PAYMENT FOR THE COST OF THE CARGO AND COMMISSIONS
10) BUYER NOW WIRES CASH PAYMENT TO SELLER AND COMMISIONS TO AGENTS
SIMULTANIUSLY IN ACCORDANCE TO DETAILS IN THE SPA NOT MORE THAN 24
BANKING HOURS.
11) SELLER CONFIRMS PAYMENT AND HAND OVER THE CARGO DOCUMENTS IN BUYERS NAME TO BUYER AND INTRODUCES BUYER TO SHIPPING AGENTS.
12) VESSEL SAIL TO BUYER PORT OF DISCHARGE (POD)
13) COMMISSION $12.00/$4.00 $8.00 NET TO BUYER $4.00 TO BE SHARED $2.00 TO BUYERS SIDE AND $2.00 TO SELLERS SIDE

Please send your LOI/ICPO TO US.

 
 Contact Information
Name   Dr. DAVID AGBETI 
Company   Member : DIGCI INTERNATIONAL TRADE/GROUP CON 
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