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Nairaland Forum / Nairaland / General / Business / SELLER NEEDED TO SUPPLY BLCO TTO, ON INDEMNITY PROCEDURE (1151 Views)
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SELLER NEEDED TO SUPPLY BLCO TTO, ON INDEMNITY PROCEDURE by Jamesdbeloved(m): 11:56am On Apr 12, 2013 |
BUYER procedure on TTO PROCEDURES INDEMNITY -TTO Procedures with the Seller's Bank Writing a Letter Of Indemnity of [N30M] before Buyer's Bank will do same; INDEMNITY- TTO PROCEDURES – [NIGERIA WATERS] I]. Seller & Buyer Sign SPA with full Banking Details & lodge with their respective Banks. 2]. Seller upon receive of Buyer’s Signed/Sealed SPA with Complete ATB Format, Seller’s Bank write a LETTER OF INDEMNITY worth [N30M] to Buyer’s Bank their Readiness to comply to the said Procedures agreed by both Seller/Buyer & Copy the Buyer, that if Buyer should issue any Instrument & Seller fail to comply the Letter Of Indemnity become Cashable. 3]. Upon receive of Seller’s Letter Of Indemnity Buyer’s Bank write same LETTER OF INDEMNITY worth [N30M] to Seller’s Bank their Readiness to issue Scan Copy of Manager Cheque/Bank Draft/Bank Guarantee/IBPU of [N10M] upon receive of Marine ATB & NNPC/NAVAL Clearance from Seller’s Loaded Vessel Captain Desk, that will be Cashable ONLY after Q & Q Report to both Buyer’s/Seller’s Bank. 4]. Seller issue Marine ATB & NNPC/NAVAL Clearance to Buyer Inspector/SC to board the Loaded Vessels within Nigeria Waters 5]. Buyer confirmed MATB & CLEARANCE & issue Scan Copy of either Bank Draft/Manager Cheque of NGN10M to Seller/Seller’s Fiduciary Account Cashable after Q & Q Report to both Buyer’s/Seller’s Bank. 6]. Buyer’s Supercargo & Inspectors board for Physical Confirmation & Sample taken for Q&Q Report & the NGN10M will be Deductible from the Total Cost with Q & Q Result copied to Buyer/Seller Bank & Supercargo remaining on board. 7]. . Buyer places irrevocable SBLC/MT103/23 in favor of the Seller’s Account for the Entire Cargo Cost & Commission for all the Intermediaries. 8]. Buyer Re-charters Vessel from Vessel Handler/Owner 9]. Seller hand over Original Documents to the Buyer in Buyer’s Name. 10]. Buyer SWIFTS Payment to Seller & all Nominated Accounts in the SPA on presentation of Invoice & Documents. 11]. Vessel seals to Buyers Port Destination l2]. End of Transaction. --- Next to Continue for 36 months [BN] Failure to comply/abide by any of the Parties concerned this [N30M] INDEMNITY become Cashable] Qty - 2MBBLS-Price N80 Less 4 Well, the Buyer is expecting the New Seller's SPA to make progress. the Indemnity is N30M & the MC/BD of N10M will ONLY be Cashable after Q & Q to Buyer's/Seller's Bank Expecting to hear from you, ASAP. Thanking you according for your cordial collaboration. Best Regards. |
Re: SELLER NEEDED TO SUPPLY BLCO TTO, ON INDEMNITY PROCEDURE by israel007: 12:48pm On Apr 12, 2013 |
OP pls drop ur correct email |
Re: SELLER NEEDED TO SUPPLY BLCO TTO, ON INDEMNITY PROCEDURE by presido07: 1:25pm On Apr 12, 2013 |
@ OP we can fufile all your requiments both the Indemnity and Bank gurrantee pls leave ur fone numba so we can seal a deal then i will send u the procedure call me on dis line mostly wkends 08162008852. |
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