AGO 5-10KMT RACKET PROCEDURE @ N130/2. LAGOS WATERS:

PROCEDURE:

NOT NEGOTIABLE

PURCHASE PROCEDURE FOR TTT WITH OPEN COMMUNICATION LONGSIDE AND TIEUP
 
TRANSACTION PROCEDURES:

PROCEDURE  FOR TTT- WITH NOR, OPEN COMMUNICATION LONGSIDE AND TIE UP.
 1.   BUYER/SELLER SIGN/SEAL SALES/PURCHASE/AGREEMENT WITH FULL BANKING DETAILS.

2. BUYER RETURN SIGNED SPA WITH

VALID SHIPPING DOCUMENTS (CPA, Q88, CHARTER INVOICE, OPEN COMMUNICATION FORMAT AND AUTHORITY TO LOAD (ATL) with Capt Name, Phone Number, Immasat No, Call Sign, Email Adress & Buyer Transaction Code ADDRESSED TO SELLER.)  AND FORWARD SAME TO THEIR RESPECTIVE BANKS. (ELECTRONIC SIGNED COPIES ARE BINDING, ENFORCEABLE AND CAN NOT BE CHANGED).  

3. SELLER CONFIRMS THE ABOVE, LOADED VESSEL CAPTAIN CALL OPEN COMMUNICATION FROM LOADED VESSEL TO BUYER’S RECEIVING VESSEL BUYER/ BUYERS VESSEL CAPTAIN CONFIRM AND RESPOND WITH ACKNOWLEDGEMENT AND ETA TO ALL THE EMAILS WITH BUYERS/ SELLERS AGENTS

5: UPON CONFIRMATION OF THE ABOVE SELLERS LOADED VESSEL LONGSIDE AND TIE UP with Buyer receiving vessel @ 04,00N. 008. 35E N/M in Lagos/ Cotonuo water Or Agreed STS Position by Both vessels Captain, upon Buyers vessel Captain confirmation of Long Siding/Tie up Buyers Receiving Vessel Captain Send Acknowledgement Letter of Longsiding to all the Emails Including Seller & Buyer Respectively and Before Transhipment of Product Commence Into Buyers Receiving Vessel Buyer/Buyers Bank Pays 40% Cash of Total Cargo Value by Swift Wire Transfer to Sellers Bank Account and other Benificary Nominated Accounts as per the SPA for Longsiding, Tieingup and Buyer/Buyers Bank Places MT 760 OR Fully Funded Irrevocable Confirmable Bank Gauranty WITHOUT DISCLAIMER for the Balance of the 60% OR PAY BALANCE 60% CASH of Total Cargo Value to Sellers Account by Swift Wire Transfer after Completion of Transhipment, Seller confirms Bank Gauranty for the Balance of the 60% Total Cargo Value and loaded vessel Transship Product into Buyer receiving Vessel at Lagos/ Cotonuo water or nominated STS positioned as agreed upon by both Vessels Captains.
 
6: BUYER CONDUCTS Q&Q
 
7: AFTER TRANSSHIPMENT AND UPON SUCCESSFUL CONDUCT OF Q&Q, WITHIN 24 HOURS BUYERS BANK MAKES FULL (100%) PAYMENT BY SWIFT WIRE TRANSFER FOR THE ENTIRE CARGO VALUE LESS THE 40% TOTAL CARGO VALUE ALREADY PAID TO SELLERS ACCOUNT AND ALL THE NOMINATED ACCOUNTS AS PER THE SPA.

8: SELLER/SELLERS BANK CONFIRMS THE ABOVE RELEASE ALL ORIGINAL CARGO DOCUMENTS TO BUYER AND PAY COMMISSION TO INTERMEDIARY ACCOUNTS ON THE SPA. SELLER CONFIRMS PAYMENT TO ALL ACCOUNTS.
BUYERS VESSEL IS ALLOWED TO SAIL TO BUYERS POINT OF DISCHARG.

PAYMENT Of full cargo

Available

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