PROCEDURES / PAYMENT INSTRUMENT: NOMINATION, SHIPMENT & PROCEDURES OF 2MB BLCO TTO GHANA WATERS AND WEST AFRICAN WATERS FROM BONNY TERMINAL

 PROCEDURES / PAYMENT INSTRUMENT: NOMINATION, SHIPMENT & PROCEDURES OF 2MB BLCO  TTO GHANA WATERS  AND WEST AFRICAN WATERS FROM BONNY TERMINAL  

(NON NEGOTIABLE)

N96/4

1 SELLER AND BUYER SIGN AND SEAL THIS SALES AND PURCHASE AGREEMENT (SPA) AND BOTH LODGE SAME IN THEIR RESPECTIVE BANKS. ELECTRONICALLY SIGNED COPIES SHALL BE CONSIDERED LEGALLY BINDING AND ENFORCEABLE IN ANY LAW COURT. BOTH INTERNATIONAL PASSPORTS AND COMPANY REGISTRATION CERTIFICATE TO BE SUBMITTED AS WELL.

2. BUYER RETURNS SELLER’S (SPA) IN PDF FORMAT, WITH CLIENT INFORMATION SHEET (CIS), MARINE ATB/NOR FORMATS (WHERE APPLICABLE) AND DISCHARGE PORT INFORMATION; BOTH SELLER AND BUYER DEPOSIT CONTRACT IN THEIR RESPECTIVE BANKS. 

3. BUYER’S BANK ISSUES FULL CARGO USD$260M  BG OR MT799 PRE-ADVICE OF STANDBY LETTER OF CREDIT (SBLC - MT760) TO SELLER‘S FIDUCIARY BANK AND SELLER‘S FIDUCIARY BANK RESPONDS VIA PRE-ADVICE TO BUYER’S BANK CONFIRMING READINESS TO ISSUE 2% PERFORMANCE BOND UPON RECEIPT OF OPERATIVE SBLC MT760 FROM ONE OF THE TOP 50 BANKS OF THE WORLD.  

4. NNPC / SELLER’S LOADED VESSEL OPENS COMMUNICATION WITH BUYER’S AGENT AND BUYER’S AGENT WOULD BE BOARDED TO TAKE SAMPLES AND OBTAIN ATTESTATION FROM THE VESSEL CAPTAIN. 

5. UPON THE RELEASE OF QNQ RESULT, BUYER’S BANK MAKES FINAL PAYMENT TO THE NNPC / SELLER NOMINATED ACCOUNT TO RECEIVE FINAL PAYMENT AND BUYER MAKES PAYMENTS TO ALL THE COMMISSIONED AGENTS  AND THE SECOND SHIPMENT WILL START IMMEDIATELY BUYER MAKES THE REQUEST FROM THE SELLER.

SELLER PROVIDES HIS COMPANY’S ALLOCATION DETAILS AND PROOF OF PRODUCT (POP) INCLUDING ATS AND LOADED VESSELS. (ALREADY PROVIDED. SEE ATTACHMENTS HERETO) 

NOTE: SOME BANKS FROM TOP 25 BANKS TOP 50 BANKS OF THE WORLD BANKS USED BY FRAUDSTERS, OUR BUYERS SHOULD AVOID GIVING US INSTRUMENT FROM FRAUDULENT BANKS.

BUYER’S BANK ISSUES AN OPERATIVE SBLC VIA MT760 FROM ONE OF TOP 50 WORLD PRIME BANKS TO SELLER’S NOMINATED FIDUCIARY BANK WITHIN 4 BANKING DAYS; AND UPON THE RECEIPT AND CONFIRMATION OF SBLC, SELLER’S FIDUCIARY BANK IMMEDIATELY ACTIVATES IT WITH AN OPERATIVE 2% PB AS BOTH INSTRUMENTS BECOME ACTIVE.

SELLER’S NOMINATED VESSEL CAPTAIN ISSUES A MARINE NOR/ETA, CARGO DOCUMENTS AND THEIR INTERTANKO Q88 VIA E-MAIL TO THE BUYER FOR CONFIRMATION.

BUYER’S NOMINATED SHIPPING AGENT/COMPANY OBTAINS ALL NECESSARY CLEARANCE DOCUMENTS FROM THE PORT AUTHORITY TO THE CAPTAIN OF THE VESSEL FOR ANCHORAGE.

CAPTAIN SAILS VESSEL TO BUYER’S DISCHARGE PORT AND ISSUES NOR AS PER TERMS IN 8.0 (PORT OF DISCHARGE, LAYTIME AND DEMURRAGES).

BUYER ARRANGES INSPECTORS FOR Q&Q INSPECTION IMMEDIATELY UPON VESSEL’S ARRIVAL AT DISCHARGE PORT; Q&Q REPORTS ARE COMPILED AND TRANSMITTED TO BUYER’S BANK AND BUYER.

WITHIN 48 HOURS OF BUYER´S BANK RECEIVING Q&Q RESULTS AND CAPTAIN DISCHARGE, BUYER BANK PAY BY MT103/KTT WIRE TRANSFER TO SELLER FOR THE FULL CARGO. SELLER SHALL COLLATE ALL ORIGINAL CARGO DOCUMENTS ISSUED TO THE ORDER OF BUYER AS “CONSIGNEE” AND FORWARD THEM BANK TO BANK TO BUYER TO CONSOLIDATE FINAL PAYMENT INCLUDING PAYMENTS OF ALL THE AGENTS.

SELLER CONFIRMS PAYMENT MADE BY SWIFT MT103 WIRE (KTT) TRANSFER TO SELLER’S NOMINATED ACCOUNT AND ALL NOMINATED AGENTS AND FACILITATORS AND SELLER HANDS OVER THE HARD COPIES OF THE CARGO DOCUMENTS TO THE BUYER. 

FIRST TRANSACTION COMPLETED. SECOND TRANSACTION ACTIVATED.