procedure for ago
1.Buyer and Seller sign Contract (SPA) and return with valid tank farm invoice details, NOR format, phone numbers of the paymaster, seller and buyer deposit
  with
  their respective Banks.
 
 
2.
    Buyer give seller FULL BG covering the whole cargo or Buyer’s through his bank or in person issue a DRAFT/MANAGER’S CHEQUE of Five million Naira and IBPU to seller’s and bring it to seller’s bank and seller give buyer an open cheque of N5m of a well-funded Corporate
  account cashable if seller fail to give NOR after 72hrs. This DRAFT/MANAGER’S CHEQUE must be presented on or before 12noon.
 
3.
    Seller’s Vessel load and issue NOR and ETA to Buyer’s Storage. Buyer’s/ Storage acknowledges and responds to the NOR and Seller cash the N5m draft.
  If buyer fail to perform after receiving NOR within 72hrs, buyer will forfeit the N5million but will be deducted from total sum if buyer raises BG/IBPU within the time limit of 72hrs, therefore buyers are advised to notify and instruct their banks to start the preparation of the BG in on time.
 
4.
    Buyer’s Bank issues
  FULL BANK GUARANTEE within [72} hours of issuance NOR and ETA to buyer’s Storage Assuring Seller that BUYER’S BANK will pay for the Product after
  delivery to Buyer’s Storage.
 
5.
    THE BG/IBPU MUST BE WITH A RED LINE OF 100,000,000 NAIRA RED LINE OF WITHDRAWAL FOR CLEARANCE OF VESSEL TO BERTH AT THE TANK FARM
 
6.
    Seller’s Vessel sails to Buyer’s Storage Jetty after seller receives FULL BANK GUARANTEE, Seller’s Vessel Captain issues MATB for Buyer’s Supercargo and Inspectors to board Vessel and conduct Q&Q Inspection Tests on the cargo.
 
7.
    Buyer’s Supercargo and Inspectors conduct Q&Q Inspection Tests at Buyer’s Costs, and issue Q&Q Tests Results to Buyer and Seller.
 
8.
    Seller regulates and transfers all relevant Cargo Documents to Buyer.
 
9.
    Within Twenty-Four (24) Hours of Q&Q, Payment for the delivered Cargo is effected as the Bank Guarantee/IBPU is cashed. All facilitators and agents named in the contract are paid their commissions.
 
10.
    Seller’s Vessel discharges to Buyer’s Storage.
 
11.
    Next Shipment is scheduled until total volume is delivered.
 
IMPORTANT NOTICE: WE DO NOT GIVE POP IN ANY FORM UPFRONT SO DO NOT REQUEST FOR IT OR SIGN THIS CONTRACT IF YOU CANNOT FOLLOW OUR SIMPLE PROCEDURE.
Email: chuuukkiez@yahoo.com
Tel:+2347035429555