Hello everyone,

Below is my tankfarm procedure nonnegotiable


1)Buyer signs LOI format of seller to receive SPA.

2)Both parties sign and lodge spa with their respective banks.

3) Seller issues acknowledgment letter and proforma invoice to buyer requesting for one-time cash call Logistics Payment of USD$100,000(HUNDRED THOUSAND DOLLARS ONLY) for the 6 million barrels transaction.

4)Seller also issues a corporate letter of guarantee for performance and refund of buyer’s CASH PAYMENT FOR LOGISTICS with a $500 compensation. Seller sends buyer the soft copies of all the documents immediately. This guarantee letter would be addressed to EFFC & DSS.

{Seller guarantees that if by any chance, seller fail to deliver the said commodity within 30 days, the Logistic Payment with compensation of 100,500 USD will be refunded to buyer’s bank account immediately.}.

5) Buyer pays 20% of the cash call for logistics to seller’s account and scans, forwards slip/proof to seller.

6) Seller then sends THE HARD COPIES of the guarantee letter as indicated in clause (4) addressed to EFCC & DSS to buyer.

7) Buyer issues the remaining 80% Logistics Payment to seller’s bank, scans, and forwards slip/proof to seller.

Seller confirms payment and issues DTA letter, China Custom Clearance as well as registered WOT in buyer’s name to buyer. Tankfarm Manager/Asian consultant will be copied.

9)Buyer is given access to carry out his CIQ on the product in the Tankfarm, with positive outcome, Dependent on the quantity demanded or desired, buyer pays via mt103/makes a deposit payment. Seller transfer ownership title to buyer specified name. At the same time, buyer pay commissions for all agents.

10)NNPC confirms the payment & instructs buyer to suck his cargo of 6MBBLS from the storage tank farm and hands over the original export and vessel documents, which are under buyer specified name, to buyer.

11) When needed, buyer’s authorization letter will be issued with the POPs under buyer specified name.