TTO PROCEDURE:
Dollar 10/6, Naira 83-4


1/ Seller issues Sales Purchase Agreement (SPA) to be executed by both parties. Buyer and Seller sign and seal this Contract including banking coordinates. forwarded by Electronic Document Transmissions(EDT). The electronic (EDT) signed copy by both Parties is considered legally binding and enforceable in respect of any provisions of this contract and must not be changed.

2/ Seller issue APG (Advance Payment Guarantee) of N100m naira worth to buyer's bank and buyer bank will swift an agreed sum in cash for logistics/bunking the cargo to Ghana/Cotonuo water after loading.

3/ Seller shall 3 days after the receipt of buyer's bank swift,nominate and commence loading.

4/ The seller뭩 captain shall post ETA to buyer and his Agents stating the estimated day of her arrival at Ghana for QnQ.

5/ In line with the ETA date the seller shall log and bunker the loaded vessel and instruct her captain to sail to Ghana International waters.

6/ On arriving Ghana water, seller뭩 vessel master announces his arrival and move to 10 to 15 NM and seller clears buyer뭩 SGS inspectors to board the vessel for Q&Q.

7/ The buyer shall place an. Bank Guarantee for the entire Cargo 48hrs after Q & Q tests.

8/ The seller shall help the buyer to re-charters and take over the vessel and re-assign all shipping documents/tittle to the buyers�name.

9/ Buyer makes full payment for the entire Cargo by KTT or via MT103 transfer to seller and commissions to other beneficiaries involved.

10/ Vessel sails to buyer's final port of destination.

NB: If QnQ will be in Nigerian waters, both buyer and seller will agree on a particular amount for APG from Seller and sum to swift by buyer.