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TTO GHANA PROCEDURE: NO INSTRUMENT/LOGISTICS UNTIL AFTER QNQ IN GHANA

QUANTITY: 1,000,000 BARRELS
DISCOUNT: $9/6

1. BUYER & SELLER SIGN AND SEAL SALES & PURCHASE AGREEMENT (SPA). ELECTRONICALLY SIGNED COPY OF THE SPA IS LEGALLY BINDING AND LAWFULLY ENFORCEABLE. BOTH PARTIES LODGE THE FULLY EXECUTED SPA WITH THEIR RESPECTIVE BANKS.

2. BUYER SENDS SIGNED SPA WITH FULL DETAILS OF BUYER AND BUYER BANKING DETAILS WITH FULL ATB / NOR FORMAT INCLUDING NOTARIZED LETTER OF INDEMNITY FOR BUYER TO PAY $1m IF SELLER PERFORMS AND BUYER DOES NOT BOARD OR FULFILL AGREED OBLIGATIONS IN GHANA.

3. SELLER UPON RECEIPT OF BUYER SIGNED SPA AND OTHER DETAILS IN NO 2, UPON RECEIPT OF ABOVE AND AFTER SATISFACTORY, SHALL WITHIN THREE (3) BANKING DAYS NOMINATE AND LOAD A 1,000,000 BARREL VESSEL AND INSTRUCT LOADED VESSEL CAPTAIN TO SEND MARINE NOTICE OF READINESS (NOR) TO BUYER SHIPPING AGENCY AT TAKE OVER PORT - GHANA. BUYER SHIPPING AGENT ACKNOWLEDGES NOR AND REPLY THEIR READINESS TO RECEIVE THE CARGO ON BEHALF OF THE BUYER

4. VESSEL SAILS TO BUYER’S TAKE OVER PORT - GHANA. FURTHER ETA UPDATES TO BE SENT TO BUYER'S PORT OF TAKE OVER - GHANA AT TWENTY-FOUR (24), AND TWELVE (12) HOURS PRIOR TO ARRIVAL. UPON ARRIVAL AT BUYER’S PORT OF TAKE OVER, VESSEL ANNOUNCES ARRIVAL TO PORT AUTHORITY/NAVY IN THE BUYER'S NAME. BUYER’S SHIPPING AGENCY CLEARS VESSEL INTO THE PORT OF TAKE OVER ANCHORAGE.

NB: THE LOADED VESSEL WILL ONLY ANCHOR IN THE INTERNATIONAL WATERS OF THE POD COUNTRY PENDING CLEARANCE FROM BUYER’S SHIPPING AGENT. ANY EXPENSES; PORT CHARGES, LEVIES, SECURITY, TUGGING ETC. THAT MIGHT ARISE AS A RESULT OF VESSEL COMING INTO THE PORT OF TAKE OVER COUNTRY HARBOR/PORT/TERMINAL/STORAGE OR WATERS WILL BE BORNE BY THE BUYER. ALL CLEARING PROCESSES WILL BE CARRIED OUT BY THE BUYER’S SHIPPING AGENT.

5. VESSEL IS CLEARED INTO BUYER TAKE OVER PORT - GHANA, AND VESSEL MASTER ISSUES A MARINE AUTHORITY TO BOARD (ATB) TO BUYER’S NOMINATED SUPER CARGO AND INSPECTORS AS PER BUYER’S FORMAT.

6. UPON INWARD CLEARANCE AND RECEIPT OF MATB BUYER SHALL WITHIN 48 HOURS BOARD SUPER CARGO AND INSPECTOR FOR Q&Q. AND UPON RECEIPT OF ATTESTATION, BUYER PAYS $750,000.00 CASH TO SELLER FOR LOGISTICS AND DOCUMENTATION.
THE $750,000.00 IS ALSO DEDUCTIBLE FROM TOTAL CARGO VALUE PAYMENT.

7. Q AND Q ANALYSIS IS CONDUCTED AT BUYER'S EXPENSE. INSPECTION AGENCY MUST BE EITHER SGS, INTERTEK OR EQUIVALENT AND MUST BE ACCEPTABLE TO SELLER. THE FINAL Q&Q REPORT BASED ON QUANTITY IS SENT TO BOTH BUYER AND SELLER RESPECTIVELY. AT THIS STAGE, SELLER LINKS BUYER WITH VESSEL HANDLERS FOR PRE CHARTERING DISCUSSION FOR CONFIRMATION THAT VESSEL CAN BE RECHARTERED. THIS IS TO SMOOTHEN THE BANKING PROCESSES.

8. UPON RECEIPT OF THE INSPECTOR’S Q AND Q REPORT BY BOTH BUYER & SELLER. BUYER WITHIN 72HOURS OF RELEASE OF THE Q AND Q REPORT, SHALL ISSUE SBLC via MT760 FOR THE FULL VALUE OF THE CARGO LESS THE $750,000.00 ALREADY PAID. SELLER ISSUES THE FINAL COMMERCIAL INVOICE BASED ON Q AND Q REPORT AND DOCUMENTS IN SELLER/BUYERS NAME TO THE BUYER.

DOCUMENTS TO BE ISSUED IN BOTH SELLER’S AND BUYER’S NAME TO INCLUDE:

· CLEAN OCEAN BILL OF LADING, ONE (1) ORIGINAL AND THREE (3) COPIES
· SELLER’S COMMERCIAL INVOICE, ONE (1) ORIGINAL AND THREE (3) COPIES
· CERTIFICATE OF ORIGIN ISSUED BY NNPC, ONE (1) ORIGINAL AND THREE (3) COPIES
· CERTIFICATE OF AUTHENTICITY ISSUED BY NNPC, ONE (1) ORIGINAL AND THREE (3) COPIES
· CARGO MANIFEST, ONE (1) ORIGINAL AND THREE (3) COPIES
· CERTIFICATE OF QUALITY, ONE (1) ORIGINAL AND THREE (3) COPIES
· CERTIFICATE OF QUANTITY, ONE (1) ORIGINAL AND THREE (3) COPIES
· MASTER’S RECEIPT FOR SAMPLES
· MASTER’S RECEIPT FOR DOCUMENTS
· TANKER ULLAGE REPORT
· TANKER TIME SHEET
· NNPC AUTHORITY TO SELL (ATS)
· Q&Q INSPECTION REPORT PERFORMED AT LOADING PORT

9. SELLER WILL INTRODUCE BUYER TO VESSEL HANDLERS / OPERATOR FOR VESSEL RE-CHARTERING.

10. UPON RE-CHARTERING OF VESSEL, THE BUYER’S BANK MAKES FULL PAYMENT IN USD (LESS $750,000.00 ALREADY PAID) TO SELLER’S AND INTERMEDIARIES’ NOMINATED BANK ACCOUNTS VIA TELEGRAPHIC TRANSFER WITHIN THREE (3) BANKING DAYS OF RECEIVING THE FINAL COMMERCIAL INVOICE. BUYER’S BANK WILL ADVISE SELLER’S AND INTERMEDIARIES’ BANKS BY SWIFT OR TESTED TELEX QUOTING THE VALUE DATE OF THE TRANSFER, THE AMOUNT, THE INVOICE NUMBER, AND THE CLEARING BANK, IF ANY. SUCH ADVICE IS TO BE SENT IN DUE TIME SO AS TO ENABLE SELLER’S BANK TO CREDIT SELLER AND INTERMEDIARIES WITH VALUE ON DUE DATE.

11. SELLER’S BANK CONFIRMS PAYMENT, TITLE IS TRANSFERRED TO BUYER AND SELLER RELEASES ORIGINAL COPIES OF ALL SHIPPING DOCUMENTS, TITLE AND DISCHARGE CERTIFICATE TO BUYER.

12. VESSEL SAILS TO BUYERS PORT OF DISCHARGE.

Contact Details:
Whatsapp: 08124506806
Call: 08062538339

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