2 MILLION BARRELS TTO GHANA WATERS

PRICE: DOLLAR DEAL- $10/4
NAIRA DEAL. - #57/4

PROCEDURES / PAYMENT INSTRUMENT:

1. SELLER AND BUYER SIGN SPA AND BUYER RETURNS WITH ATB FORMAT, SUPERCARGO AND INSPECTOR DETAILS AND TUG BOAT DETAILS.

2. BUYER ISSUES BANK COMFORT LETTER (WITHOUT DISCLAIMER) FOR #200 MILLION OR $1 MILLION TO SELLER TO ANNOUNCE ARRIVAL IN BUYER’S NAME FOR BUYER’S SHIPPING AGENT TO MOVE VESSEL TO 10 NM TEMA WATERS FOR ISSUANCE OF MATB AND BOARDING OF BUYER TEAM OF INSPECTORS.

3. SELLER CAPTAIN MAKES ANNOUNCEMENT IN BUYER'S NAME AND BUYERS SHIPPING AGENT SECURES INWARD CLEARANCE

4. CAPTAIN ISSUES MATB AND NNPC ISSUES CLEARANCE TO BUYER SC AND INSPECTOR, BOARD BUYER'S SC AND INSPECTOR

5. AFTER ATTESTATION BUYER PAYS THE $1 MILLION OR N200M FOR LOGISTICS AND DOCUMENTATION.

6. INSPECTOR DISEMBARK WITH SAMPLE FOR Q&Q

7. AFTER Q&Q, BUYER PAYS FOR FULL CARGO BY MT103 LESS TOTAL LOGISTICS

8. SELLER CONFIRMS PAYMENT AND INTRODUCES BUYER TO VESSEL HANDLER FOR RECHARTERING

9. BUYER RECHARTER VESSEL AND SAILS TO POD.

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