BLCO 2mbrls

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 BLCO 2mbrls:


procedure 



1: Seller sends presignd contract to Buyer signs, returns with ATB FORMAT, inspector and Supercargo details (Supercargo must be NNPC ACCREDITED).

2: Buyer pays the cash sum of #12.5m  to Seller to include, MATB/CLEARANCE/DOCS/Radio Announcement/Boarding 

          OR 

2:(b) The buyer's bank contacts the Seller's bank request for an Advanced Payment Guarantee of #100m Valid for 14 days stating that the buyer is RWA to transfer the cash sum of #100m six hours of Receipt the APG.


3: Seller's Captain comes to 12 nautical miles Lome Togo  issues a MATB, while Terminal issues Clearance, provide Tug boat, boards buyer's Super cargo and inspector for QNQ.(The Captain will come to 10nautical miles to board SC/inspector).


5:Upon confirmation of Product, receipt of attestation co-signed by the Captain and the buyer's Super-cargo.

6: Buyer pays USD$1m cash to the Seller minus the #12.5m  already paid as logistics.

7: The Captain makes a Radio Announcement before the Harbour master.

8: Inspector comes down with Sample of Product while Super-cargo remains on board until the transaction is closed.

9: The inspector releases QNQ report to both buyer and Seller.

10:The Seller sends Commercial invoice and cargo documents to the buyer for full cargo payment.

11: The buyer pays with MT103 Swift for the entire cargo to the Seller minus the USD$1m already paid to the Seller as logistics.

12:The Seller introduces the buyer's shipping agent to the vessel handlers for a take over.

End of transaction.

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