POCEDURE –AGO TANK FARM DELIVERY LAGOS WATERS 10KMT.

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 POCEDURE –AGO TANK FARM DELIVERY LAGOS WATERS 10KMT.


1. Seller and Buyer signs and seals the Sales and Purchase Agreement including full Banking co-ordinates. 


2. Buyer returns SPA with Throughput agreement, Nor format and Tank farm details


3. Buyer raises a BANK CONFIRMABLE CHEQUE of N200m(TWO HUNDRED  MILLION) in favor of seller’s fiduciary bank.


4. Seller instructs vessel captain to issue a MNOR to buyers tank farm.


5. Seller confirms the bank draft issues ETA to Buyers Tank farm. Buyer’s tank farm manager confirms and acknowledges the Nor.


6. Seller move vessel to Jetty and make arrival announcement in Buyer’s name to Port authority.


7. Buyer clears the vessel into his tank farm, the #200m cheque turns to CASH immediately as seller issue MATB and board buyer’s supercargo and inspector for product confirmation and Q & Q analysis.


8. Upon confirmation of product with attestation signed by captain/supercargo and inspector disembark with sample, 


 9. Upon successful Q & Q and results sent to buyer/seller, buyer release 50% of the total cargo (before transhipment) to sellers nominated account, and the balance of 50% via Mt 103 after transhipment less logistics.


 10. Seller confirms funds and releases hard copies of cargo documents to buyer in his name.

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