*Tankfarm delivery to Lagos and calabar*

@

Lagos. N178/2
Calabar N183 /2

*respectively. Procdure*

buyer provide valid TF docs., then seller issue SPA, buyer and seller sign SPA and deposite with their banks, then seller load, send NOR to TF, TF acknowledge NOR, seller bring product to TF for Q & Q, logistics money paid & transhpment.


08108181157

TRANSACTION PROCEDURES FOR BLCO TTO GHANA WITH 2%PB AGAINST SBLC STRICTLY. S12/8NET. S0.50cents is opened on the sellers side.


1) Buyer and Seller sign and seal the Contract including banking coordinates. The electronic signed copy by both parties is considered legally binding and enforceable and must not be changed without the written consent of the parties.
2) Buyer bank contacts the Seller’s bank via SWIFT MT799 stating its readiness, willingness and ability to issue the SBLC and requesting the Seller’s bank to issue the operative 2% PB on confirmation of the Buyer bank SBLC to activate the SBLC.
3) Seller’s bank responds via SWIFT MT799 to the Buyer bank stating its readiness, willingness and ability to issue the operative 2%PB on confirmation of the Buyer Guarantor’s bank SBLC.
4) Buyer bank issues SWIFT MT760 an IRREVOCABLE, CONFIRMED, OPERATIVE, ASSIGNABLE AND REVOLVING STANDBY LETTER OF CREDIT (SBLC).
5) Seller’s Bank issues SWIFT MT760 an OPERATIVE 2%PB to the Buyer Bank to activate the SBLC.
6) Upon receipt of and authentication of SBLC by his bank, Seller names empty VLCC for Buyer to confirm and upon confirmation NNPC Window and Stem for Terminal loading, Seller sends ship’s documents master copies. Seller allows Buyer to contact the Shipping Company as well as the tanker vessel’s captain for POP further checking and logistic purposes.
7) Buyer provides destination Port /Tank farm Information to Seller.
The vessel proceeds to the port of destination.
9) Seller instructs his ship Master to send NOR/ETA to Buyer Discharge Port and Copy to Buyer.
NOTE: ANNOUNCEMENT IS MADE 10-12 NAUTICAL MILES FROM TEMA PORT IN BUYERS NAME.
10) After confirmation of the QQ Seller provides invoice on QQ Report conducted at discharge and issues the complete shipping documents to the Buyer’s Bank in the Buyer’s name in exchange for payment to enable the Buyer process the cash payment for the cargo after discharge in the Buyer’s farm tank.
Note: all the documents and the programming shall be done in the Buyer’s name and is subject to confirmation.

11) The vessel discharges cargo at agreed Destination Port.
12) Upon complete discharge of cargo, Buyer's bank within Three (3) banking days, pays via wire transfer for the entire cargo to Sellers bank, which is based on the total out turned barrels presented in the last Q&Q Inspection in buyer’s discharge port.
13) The Seller pays all commissions received from the Buyer to the facilitators as per IMFPA.



08108181157