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      You are in ::  Home > AGO/Gasoline > Read
  AGO/Gasoline Oil Read  
Sell :: 508
Buy :: 136
News :: 8
Count : 57
AGO 50KMT LAGOS WATER #155 LESS 2 CALL 08139290946 2018-10-11
 

ARTICLE 10: PROCEDURES (TTT/TTO

1. SELLER ISSUES DRAFT SPA/CONTRACT
2. SELLER AND BUYER SIGN SPA AND LODGE WITH THEIR RESPECTIVE BANKS. BUYER RETURNS A COPY OF THE SIGNED SPA WITH NOR/MATB FORMAT ALONG WITH SUPERCARGO DETAILS AND #5 Million scan copy draft for MATB ,,, Original Will be In Seller Bank

3. SELLER AUTHORIZES CAPTAIN OF AGO PREGANT VESSEL TO ISSUE MATB
4. SELLER BOARDS BUYER’S SUPERCARGO AND INSPECTOR. SUPERCARGO MUST BE NNPC ACCREDITED/APPROVED. INSPECTOR MUST BE FROM A RECOGNIZED INSPECTION COMPANY SUCH AS SGS, INTERTEK, CALIBRATE OR SAYBOLT.


5. SUPERCARGO CONFIRMS PRODUCT AND ISSUES ATTESTATION, ENDORSED BY THE CAPTAIN FROM THE CAPTAIN’S DESK. INSPECTOR TAKES SAMPLES.
6. UPON RELEASE OF ATTESTATION, BUYER PAYS SELLER N50MILLION CASH LOGISTICS.
7. BUYER PROVIDES VALID VESSEL DOCUMENTS (C.P.A, Q88,) WITHIN 48 HOURS OF SUPERCARGO CONFIRMING CARGO. OR BUYER TAKE OVER THE VESSEL
8. SELLER CONFIRMS THE DOCUMENTS AND OPENS COMMUNICATION WITH BUYER'S VESSEL, AND BOTH CAPTAINS AGREE ON STS POSITION.
9. UPON VESSELS LONGSIDE, TYING TOGETHER WITH HOSES FIXED & CONFIRMED BY BUYER'S TEAM ONBOARD, BUYER PAYS 50% OF TOTAL CARGO TO SELLER TO ENABLE TRANSSHIPMENT.
10. UPON SUCCESSFUL TRANSSHIPMENT AND Q&Q IS DONE, BUYER PAYS THE OTHER 50% MINUS THE #50 MILLION LOGISTICS ALREADY PAID.

11. SELLER CONFIRMS ALL PAYMENTS AND HAND OVER RELEVANT DOCUMENTS OF THE CARGO IN BUYER'S NAME TO THE BUYER.
12. VESSEL SAILS TO BUYER'S POD & TRANSACTION CLOSES.



 
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