PROCEDURE FOR TTO
 
 
*FULL PROCEDURE BLCO TTO*
(1) Seller issues Sales Purchase Agreement. (S.P.A) Buyer and seller sign and lodge in their Banks. The electronic signed copy of SPA by both parties is considered legally binding and enforceable.
 
(2) Buyer returns signed SPA with NOR/ATB format with NNPC approved supercargo/Inspectors passport copy . Seller send the fiduciary numinated Account. Buyer’s bank issues #500M BG BANK GUARANTEE  in favour of seller
 
3, Seller confirms the instrument
 
4, Seller issues MNOR ETA and moves vessel to Lome
 
5, Vessel gets to Lome. Seller’s captain issue MATB and makes announcement while Buyer Boards his boarding team
 
(6) Inspector collects samples and disembarks, while Supercargo remains on board and Captain issues an Attestation counter signed by the super cargo and the captain.
 
(7) Buyer pays $1m within 24 hours of Attestation while Inspectors issue report to both parties.
 
( Seller issues commercial invoice and full cargo documents in Buyer’s name and Buyer’s Bank. Buyer makes full payment by Swift Wire Transfer MT 103 to seller nominated account .
 
(9) Seller introduces Buyer to vessel handler’s for re-charter of vessel and sails to buyer’s port of discharge at Buyers expense while the Seller pays all agents as per contract.-
 
(10) Next shipment
 
*Only request for SPA, only when buyer has accepted the procedure fully*
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