1 Buyer & seller sign & seal this contract including banking coordinates & exchange the signed copies by electronic mail. The electronic signed copies by both parties
Are considered legally enforceable and cannot be changed.
Buyer sign and return with ATB format, tug boat details, supercargo and inspector passport copies.
2 Seller send POP to buyer account officer and Buyer’s bank send Pre-advice or blocked fund to seller’s account Officer by bank secured email confirming availability of fund to pay for the product.
3 Seller confirms Pre-advice or blocked fund and issues MATB/Clearance to buyer's agents and inspector.
4 Buyer boards supercargo and inspector. Inspector collects sample and come down for Q&Q. buyer release N50m to seller’s account.
5 Upon Q&Q analysis report sent to buyers and sellers bank, buyer place payment instrument (mt103) for entire cargo including agents and facilitators.
6 Seller hands over the cargo documents and introduces buyer to vessel owner for Re-charter OR transship to buyer’s vessel (STS).