SPECIAL BLCO TTT PROCEDURE NOT NEGOTIABLE USD10/6/ NGN 78-4

1. BUYER AND SELLER SIGNS CONTRACT DOCUMENT AND DEPOSIT SAME IN THEIR RESPECTIVE BANKS WHICH BINDS BOTH PARTIES AS FAR AS THIS TRANSACTION IS CONCERNED,
2. BUYER RETURNED SIGNED SPA WITH HIS NOR/ATB FORMAT AND VALID VESSEL DETAIL. WHICH MUST INCLUDE VALID VESSEL Q88, ATL ADDRESSED TO SELLER, CPA, INVOICE OF VESSEL SHOWING PROOF OF CHARTER.
3. SELLER CONFIRMS VESSEL DETAILS AND ISSUE NOR TO VESSEL FROM SHELL PETROLEUM DEVELOPMENT COMPANY OR NNPC VESSEL.
4. UPON CONFIRMATION OF MARINE NOR FROM SHELL/CHEVRON VESSEL TO BUYERS VESSEL, BUYER RAISED A BANK GUARANTEE IN FAVOUR OF THE SELLER.
5. SHELL VESSEL TRANS-SHIP THE PRODUCT UPON RECEIPT AND CONFIRMATION OF INSTRUMENT FROM BUYER S BANK.

6. AFTER SUCCESSFUL TRANSHIPMENT AND Q&Q , BUYER MAKES PAYMENT FOR THE CARGO VIA MT 103 AND SWIFT ALL OTHER PAYMENTS TO AGENTS AND FACILITATORS.
7. SELLER AND OTHER FACILITATORS VERIFY PAYMENT AND VESSEL SAILS TO BUYERS PORT OF DISCHARGE.





===========================================
2. DELIVERY: Three Million Barrels of BLCO in one slot to be delivered as Transshipment or Tanker takeover

3. TRANSSHIPMENT: 40-60 Nautical miles off Nigerian Waters or Tanker takeover

Seller Buyer

4. PRICE:
Price per litre is fixed at N81
Commission N5
Net to Seller N76
Buyer’s Agent/Facilitator N2
Seller’s Agent /Facilitator N2
Project/Transaction Facilitator N1


PROCEDURES FOR THIS TTO TRANSACTION
5.1 Seller and Buyer sign the Sales and Purchase Agreement with full banking coordinates. Buyer forwards his ATB Format and S/C and Inspectors scan passport details.
NOTE:
S/C and Inspectors MUST be OVERSEA MARINE AND CALLIBRATE and they must possess International and Seaman’s passports with Discharge Certificate.

5.2 Seller issues Marine ATB and NNPC Clearance and boards’ buyer’s inspectors for confirmation and Q/Q in Nigeria water.


5.3 Upon confirmation of product and successful Q/Q report to seller and buyer, buyer releases N50m to seller for logistics and documentation while buyer’s S/C still remains onboard pregnant vessel.

5.4 Buyer/Buyer’s bank issues full payment instrument via MT103 to seller.

5.5 Seller bank confirms the Instrument and seller releases document for full payments.

5.6 Upon receipt of the original shipping documents, the buyer/buyer’s bank wires cash payment by swift transfer to the seller’s account and to all other parties’ accounts simultaneously, as contained in this SPA per Total barrels basis against shipping documents.

5.7 Buyer re-charters the vessel from handlers or owners.

5.8 Buyer’s vessel sails to destination.

NOTE: The buyer must furnish to the seller his port of discharge for necessary documentation.



===========================================

DPK TTT 86 LESS 5

1.Seller and Buyer sign, seal Indemnity And Sales/Purchase Agreement with full Banking details including their brokers Banking details both parties forward a copy of this signed SPA contract to their respective Banks.

2.As the Product is on NNPC mother vessel, Buyer must releases details of the receiving vessel/Tank farm, that is CPA, Q88 & ATL to Seller for it to be NOR.

3. PAY MASTER OF BUYER, SELLER & LOADER HOLD MEETING IN PORT HARCOURT or BUYER SHALL RAISE A DRAFT OF TWO Million NAIRA IN FAVOUR OF THE SELLER IN THE CASE OF DELIVERY TO TANK FARM CASHABLE IMMEDIATELY SELLER ISSUES NOR TO BUYERS TANK FARM

4. Immediately after meeting within 24hours Buyer’s vessel long side with the Mother vessel for Transhipment, then Buyer will confirm product on their own vessel. Or in the case of delivery to Tank farm, buyer shall place MT 760 for the entire product immediately after his tank receives NOR. Seller shall deliver the product to buyers Tank farm and tranship

5. Buyer’s bank redeems the Bank Guarantee (BG)/MT 760 by swift transfer in cash to Seller’s bank account and all intermediaries simultaneously within 24hours for the total cost of cargo supplied after discharge.




ALBERT
08138735089
eagleexport2010@gmail.com