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      You are in ::  Home > AGO/Gasoline > Read
  AGO/Gasoline Oil Read  
Sell :: 497
Buy :: 127
News :: 21
Count : 123
AGO LAGOS TANKFARM DELIVERY @ 175/2. BUYER BLOCKS 100M 2018-10-13
 
1. BUYER/SELLER SIGN SPA
2. BUYER RETURNS 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 SELLERS BANKER, OF BUYERS READINESS TO ISSUE N100 MILLION 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 N100 MILLION FROM BUYERS BANK.
5 BUYER ISSUES N100 MILLION 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 MNOR AND MOVES VESSEL TO BUYERS NOMINATED JETTY.
7. UPON ARRIVAL OF THE PREGNANT VESSEL AT JETTY, THE BLOCK FUND OF N100 MILLION CRYSTALLIZED INTO CASH UPON SUCCESSFUL Q&Q REPORT CONCLUDED & SENT TO THE BUYER AND SELLER RESPECTIVELY AND DISCHARGE COMMENCES, 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 N100 MILLION LOGISTICS HE HAS PAID ,SAME TIME ISSUES IRREVOCABLE PAY ORDER TO ALL AGENTS ACCOUNTS PER EACH ACCOUNTS COMMISSION STRUCTURE.
8. VESSEL CONCLUDES DISCHARGES PRODUCT INTO BUYER'S TANK FARM

ASK FOR THE SPA IF OKAY WITH THE PROCEDURE.

THANKS
 
 Contact Information
Name   Mr. olubayo akinola 
Company   Member : alphasmith platforms limited 
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