PROCEDURE:  N119 + N2 (HERE THERE MUST BE VALID VESSEL DETAIL BEFORE BOARDING)1.    The Buyer and the Seller sign the contract agreement listing terms and conditions of transaction and indicating buyer and seller banking coordinates.2.    Buyer will give the seller his valid vessel details and authority to load.3. Sellers Captain issues Marine NOR to buyers vessel and long side for STS operation.3.    Buyer shall release BG for  the full product after confirmation of Marine NOR  on his vessel by his captain and buyers supercargo5. Transshipment is done at the cost of the buyer who provides authorized hose and fenders for operations.6. Seller provides Buyer with DC&MR for the cargo at the expense of the Buyer.7. Buyers inspectors conduct Q+Q on the buyers vessel and Q&Q report is given to both parties.8. The BG will crystalize into cash and Payment is made for cargo and broker s commissions to the designated accounts in the contract.9. Above process is repeated for next transaction, till contract concluded
.PROCEDURE: 50,000MT AT N125 GROSS1.    Seller issues signed SPA to Buyer to sign and return. Electronic signed copies are legally binding and accepted between parties.2.    Buyer raise a managers cheque /Bank draft of N10,000 000 in favour of the seller and release his ATB FORMAT and Inspectors Id.3.    Seller Authorize the captain of the Loaded Vessel to release marine ATB to seller supercargo and inspector for Q&Q Analysis.4.    Seller cash the N10,000,000 managers cheque/bank draft upon confirmation of product by the buyers supercargo and is part of the payment for the product.5.    Buyer place FULL BG and Transhipment takes place6.    Seller releases cargo document {DC&MR} and Q&Q report to Buyer for payments by MT 103 or Wire transfer within 24hrs.7.    Buyer forfeits his ten Million naira if he fails to make payment after confirmation of product by his supercargo within 48 hrs.
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