ARTICLE 2 : PROCEDURE TANK FARM DELIVERY (10,000MT) :

(1) Seller sends SPA, buyer signs and return with Throughput
agreement, NOR FORMAT, tank farm detail, charter receipt, super cargo details, tank farm manager’s contact AND BLOCKS 50 MILLION IN SELLER'S ACCOUNT IN FAVOUR OF THE SELLER.

(2) Upon confirmation of the particulars , ATB/NOR Format and the blocked fund of N50,000,000, Seller's bank responds with a 2% PB on the N50 million blocked funds and seller proceed and instruct his Vessel Captain to issue a verifiable, confirmable NOR/ETA to Buyer's Tank Farm.

(3) Tank Farm Manager acknowledges the receipt of NOR

(4) Seller's Vessel sails to Buyer's Tank Farm and long side for Q&Q Analysis. The N50,000,000.00 blocked fund becomes cashable immediately and BG is placed on the total value of the product.

(5) Upon the conduct of Q&Q,  Product is transshipped into buyer’s tank farm and B.G crystallizes into cash, and payment made to seller and all agents


(6) End of transaction
Or
ARTICLE 2 : PROCEDURE TANK FARM DELIVERY (10,000MT) :

(1) Seller sends SPA, buyer signs and return with Throughput
agreement, NOR FORMAT, tank farm detail, charter receipt, super cargo details, tank farm manager’s contact AND A BANK DRAFT OF FIVE MILLION NAIRA AND GIVE(ORIGINAL COPY), TO SELLER’S BANK [cashable once NOR is issued and product confirmed written at the back]


(2) Upon confirmation of the particulars , ATB/NOR Format and the bank draft, Seller proceed and instruct his Vessel Captain to issue a verifiable, confirmable NOR/ETA to Buyer's Tank Farm.

(3) Tank Farm Manager acknowledges the receipt of NOR


(4) Seller's Vessel sails to Buyer's Tank Farm and long side for Q&Q Analysis. The N5,000,000.00 bank draft becomes cashable immediately and BG is placed on the total value of the product.

(5) Upon the conduct of Q&Q,  Product is transshipped into buyer’s tank and B.G crystallizes into cash, and payment made to seller and all agents


(6) End of transaction
Then for TTT
PROCEDURE TTT (10,000MT) :

1.SELLER GIVES SPA AND BUYER SIGNS AND RETURNS WITH VALID VESSEL PARTICULARS, CHARTER PARTY AGREEMENT(CPA), Q88, CHARTER RECEIPT, ATL, ATB/NOR  FORMAT AND A BANK DRAFT/OF TEN MILLION NAIRA AND GIVE(ORIGINAL COPY), TO SELLER BANK. [cashable Only after confirmation of product].

2. UPON CONFIRMATION, OF THE VESSEL PARTICULARS ,ATB/NOR FORMAT & THE BANK Draft. SELLER ISSUES  MARINE NOR/ETA TO BUYER’S VESSEL FOR LONGSIDE. ...AND COPY BUYER.

3. BUYER’S VESSEL SENDS ACKNOWLEDGMENT OF THE NOR.

4. UPON RECEIVING OF THE ACKNOWLEDGEMENT OF THE NOR, BUYERS...VESSEL IMMEDIATELY COME FOR LONGSIDE & AND CONFIRMATION OF THE PRODUCT.

5. THE (N10,000,000.)FIVE MILLION NAIRA BECOMES CASHABLE UPON BUYERS VESSEL LONGSIDE.

6. AFTER CONFIRMATION OF THE PRODUCT, BUYER PLACES BANK GUARANTEE ON THE ENTIRE PRODUCT VALUE.

7. IMMEDIATELY AFTER TRANSSHIPMENT INTO BUYERS RECEIVING VESSEL, Q&Q IS CONDUCTED.


8. FINAL PAYMENT IS MADE UPON Q AND Q REPORT THROUGH KTT SWIFT WIRE TRANSFER TO SELLER’S ACCOUNT, AND COMMISSION TO ALL AGENTS/FACILITATORS ACCOUNT MINUS ALL ADVANCE PAYMENT.

SELLER GIVES ALL DOCUMENTS TO BUYER IN BUYERS NAME.

9. CONTRACT IS SUCCESSFULLY COMPLETED.

10. IF FOR ANY REASON THE BUYERS VESSEL FAILS TO COME FOR LONGSIDING & TRANSHIPMENT WITH THE SELLERS VESSEL WITHIN FORTY EIGHT HOURS(48 HOURS) OF RECEIVING THE MARINE NOR FROM THE SELLERS VESSEL, THE TEN  MILLION NAIRA (10,000,000.00) DRAFT/CASH BECOMES CASHABLE FOR SELLERS EXPENSES

Please you can call the number for any more assistance or information 08149978070.thank you