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      You are in ::  Home > AGO/Gasoline > Read
  AGO/Gasoline Oil Read  
Sell :: 468
Buy :: 119
News :: 19
Count : 77
AGO FOR SALE AT 470/10 ON DOLLAR DEAL 2018-11-09
 
Transaction Procedures
The following are sequential procedural steps, towards the implementing SPA/Contract and
Seller or Seller Agent release this transaction procedure to Buyer
Buyer is okay with procedure – Seller releases SCO (SOFT COPY OFFER) to Buyer
Buyer signs & seal/stamp SCO & returns it to demonstrate FULL ACCEPTANCE of SELLER basic PROCEDURES as well as show BUYERS FINANCIAL CAPABILITY & READINESS to PROCEED WITH THE OIL PURCHASE RIGHT NOW.
Seller releases DRAFT COPY SPA to Buyer for Buyer signs & seal/stamp & returns.
Seller provides to Buyer OFFICIAL SPA IN PDF FORMAT & both parties signs plus seal/stamp the OFFICIAL SPA IN PDF FORMAT then lodge to respective (Buyer & Seller) Banks.
THE BUYER AND SELLER SIGN THE CONTRACT and NON - CIRCUMVENTION AGREEMENT (NCNDA/IMFPA) TO COVER RELEVANT INTERESTS INVOLVED.
7. SELLER BANK SHALL PROVIDE TO BUYER BANK WITH PARTIAL PROOF OF PRODUCTS DOCUMENTS PPOP WHICH INCLUDES:
* STATEMENT OR PROOF OF AVAILABILITY OF PRODUCTS
* NOTARIZED PRODUCT/DEAL PASSPORT
* RUSSIAN CERTIFICATE OF ORIGIN
BUYER BANK OFFICIALLY CONFIRMS TO SELLER BANK OF RECEIPT OF PPOP DOCUMENTS
7b). SELLER VIA SELLER BANK SEND FULL PROOF OF PRODUCTS FPOP WITH VESSEL DETAILS TO BUYER BANK.
8). BUYER BANK PROVIDES TO SELLER BANK READY, WILLING & ABLE RWA or BANK COMFORT LETTER BCL stating Buyer financial capacity to purchase in this transaction as well as Buyers Bank confirmation that Buyer must comply with all terms & conditions of the transaction as clearly stated in SPA agreed by both parties.
9). SELLER VESSEL sails to BUYER DESTINATION WATER (within West Africa water)
10). Cargo arrives Lagos Water or any West Africa water (offshore/off bar) POD
11). Within 24 hours of CARGO arrival at Buyer water, BUYER already officially in Business with SELLER can be allowed to Board to confirm PRODUCT (CARGO) now in Buyer water.
12). Upon confirmation of CARGO now in BUYER destination water (off bar port), BUYER BANK ISSUES SELLER BANK with SBLC/BANK GUARANTY MT760 OR BLOCK FUNDS M799 COVERING 100% ENTIRE CARGO WORTH. INSTRUMENT IN SELLER VERBIAGE
13). Upon SELLER BANK verification & confirmation, BUYER supercargo & independent inspectors SGS, COTEGNA, INTERTEK or equivalent conducts Quality & Quantity inspection.
14). Quality & Quantity Inspection Q & Q conducted satisfactorily to both parties Buyer & Seller. And Q & Q report certificate RELEASED to both Buyer Bank and SELLER Bank.
15). Buyer Bank makes 100% full cargo Payment to SELLER BANK within 2 banking days of receipt of Q & Q report released.
16). SELLER vessel discharges to Buyer Super Cargo and simultaneously makes payments to all agents (interests) in FULL compliance with NCNDA/IMFPA (differ from TTO)
FOR TTO (TANKER TAKE OVER) BUYERS
17). AT THIS POINT, ON VESSEL ARRIVAL OF BUYERS PRODUCT OFF BAR, NEAR TEMA PORT, GHANA, or LAGOS PORT or any West Africa Water. AFTER SELLER FULL RECEIPT OF100% FULL PAYMENT; SELLER IN AGREEMENT WITH BUYER WILL HAND OVER THE CARGO AND VESSEL TO BUYER [TTO] FOR FINAL SAIL OF CAPTAIN TO BUYERS PREFERED DESTINATION – TEMA PORT GHANA or LAGOS PORT or any West Africa port of Buyer choice
16). SELLER hands over cargo vessel to Buyer and simultaneously makes payments to all agents (interests) in FULL compliance with NCNDA/IMFPA. +2348067084312

 
 Contact Information
Name   Mr. Godwin Emah 
Company   Member : Gobest Contracting Services Nig. 
Email   Log In to See Email 
   Inquire Now 
Tel   08067084312 
Fax   08067084312 
Mobile   08067094312 
Web   Gobestmarine.com 
IP   197.211.63.177 

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