VESSEL DETAILS
MT SEA ICON IMO 9806615 MMSI 351354000 CALL SIGN 3EWZ7 FLAG PANAMA

PRICE $8/4

TRANSACTION PROCEDURES (TTO) LOME

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

2. BUYER SIGNS AND SENDS TO SELLER FULL DETAILS OF THE RECEIVING PORT OF DESTINATION (POD) FOR Q&Q TO INCLUDE FULL DETAILS OF HARBOR MASTER, SHIPPING AGENCY, INSPECTION COMPANY, SUPER CARGO/ INSPECTOR'S SCANNED IDS WITH COMPREHENSIVE MARINE NOR/ETA/ATB FORMATS AND TUG BOAT DETAILS.

3. BUYER TRACKS THE LOADED VESSEL AND BUYER’S BANK RAISES A BLOCK FUND OF #50,000,000.00 FOR EACH VESSEL AND SEND THE HARD COPY TO SELLER'S BANK AND ALSO SEND A SCAN COPY TO SELLER FOR IMMEDIATE FOLLOW UP,

4.UPON SUCCESSFUL CONFIRMATION OF THE BLOCK FUND OF #50,000,000.00 EACH.

6. SELLER MAKES ANNOUNCEMENT AND BUYER'S SHIPPING AGENT CONFIRMS AND ACKNOWLEDGES ON BEHALF OF BUYER, CAPTAIN ISSUES MARINE MATB/DTA TO BUYER’S INSPECTION TEAM, THEN BUYER’S SUPER CARGO/INSPECTOR BOARD AND PERFORMS QUALITY / QUANTITY (Q&Q) ANALYSIS AT BUYER'S EXPENSE. AFTER ATTESTATION THE BLOCK FUNDS TURNS CASH AND BUYER PAYS ADDITIONAL N50M EACH FOR LOGISTICS AND DOCUMENTATION.

7. UPON A SUCCESSFUL CONCLUSION OF Q&Q ANALYSIS, SELLER ISSUES COMMERCIAL INVOICE REFLECTING Q&Q REPORT FIGURES TO BUYER. BUYER’S BANK RELEASES MT103 PAYMENT FOR THE ENTIRE CARGO TO SELLER'S NOMINATED BANK ACCOUNT. ON THE SAME DAY, BUYER’S BANK PAYS COMMISSION TO ALL LISTED AGENTS AND FACILITATORS VIA MT103 (TT) UNDER COMMERCIAL INVOICE.

8. SELLER RELEASES ORIGINAL CARGO DOCUMENTS IN FAVOR OF BUYER TO BUYER’S BANK AND INTRODUCES BUYER TO VESSEL HANDLERS/OWNER FOR THE PURPOSE OF RECHARTERING AND TAKING OVER THE VESSEL.

9. SELLER’S/AGENTS’ BANKS CONFIRM PAYMENT & SELLER SENDS ORIGINAL COPIES OF ALL SHIPPING DOCUMENTS INCLUDING WARRANTY OF TITLE TO BUYER/BUYER'S BANK VIA COURIER SERVICE.

10. NEXT SHIPMENT IS EFFECTED THROUGH SAME PROCEDURE
PLEASE NOTE: COMMISSION PAYMENTS ARE MADE SIMULTANEOUSLY TO ALL BROKERS AS PER SPA/MASTER FEE PROTECTION AGREEMENT

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