MY DIRECT AND END SELLER'S PROCEDURE FOR AGO LAGOS & PH TANK FARM DELIVERY. LAGOS PRICE: N177-2; PH PRICE: N185-2
- I speak directly with seller
- Proper banking communication before block fund is issued, with seller's bank attesting that seller will issue MNOR and deliver
LAGOS PRICE: N177-2
PORT HARCOURT PRICE: N185-2
FULL PROCEDURE :
1. Buyer/Seller sign SPA
2. Buyer return SPA with his Tank Farm details and throughput Agreement Etc; and MNOR Format
3.Buyer's account officer opens communication with seller's account officer strictly banker to banker, notifying seller through seller banker, of buyers readiness to issue N100m lien block on bank letterhead in favour of Seller.
4. Sellers banker replies buyer's banker and confirm sellers readiness to load vessel and issue Nor /ETA and move cargo to buyers jetty upon issuance and receipt of logistics sum of N100M Naira from buyers bank.
5) Buyer issues N100M (Lien Block on bank letter head) for 12 banking days period) and email a copy of the block funds to the seller and to his account officer from buyer's account officer's domain.
6. Seller verifies the issued lien block and loads vessel, there and then issues M-NOR and move vessel to buyers nominated jetty.
7. Upon arrival of the pregnant vessel at Jetty, The Block fund crystallized into cash upon successful Q&Q report concluded & sent to the buyer and seller respectively,and seller issues final payment invoice.
7. Buyer places another lien block strictly on bank letterhead,covering the cost of the total cargo less the N100M logistics he has paid ,same time issues Irrevocable pay order to all agents accounts per each accounts commission structure.
8. Vessel discharges product into buyer's Tank Farm
9. Buyer make full payment within 3 banking days, to seller and to all facilitators as appeared in the SPA
10. Seller hand over the Cargo documents to the buyer,transaction closes.
11. Another month delivery starts.
If your buyer is okay with this procedure, kindly demand for the SPA. Same procedure applies for Lagos and PH tank farm delivery