BLCO TTT/TTO WEST AFRICA-12/8, CIF/TTO/TTT EUROPE/ASIA AT 10/6

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by George Opus ()

BLCO SALE OFFER TTO/TTT/FOB West Africa at 12/8

CIF/TTO/TTT EUROPE/ASIA AT 10/6

TANKER TAKE OVER-(TTO) WEST AFRICAN WATERS PROCEDURE NO.1

1. Seller issues Sales Purchase Agreement to Buyer, while the Buyer sign's and return PDF converted copy with NOR/ETA format, BUYER INFORMATION SHEET, PASSPORT COPY OF THE DIRECTOR AND CERTIFICATE OF BUSINESS REGISTRATION TO SELLER as both parties lodge SPA with their respective banks.

2. Seller issues 2017 ALLOCATION-LETTER OF AUTHORITY (ATS) / MANDATE TO SELL CARGO AND REPRESENT THE NNPC/ JV OPERATORS BONNY TERMINAL to the buyer.

3. Buyers Block ($500,000.00) Five Hundred Thousand Dollars Via SBLC OR BG (MT760) in Seller's Bank Account for FIRST TRIAL SHIPMENT, and the seller confirm and validate the block fund.

4. The seller authorize loaded vessel captain to issue ETA/NOR to the buyer and Moves Vessel to 12 Nautical Miles in Ghana waters,

5. On arrival, the captain (SELLER) Issues Marine Authority To Board (MATB) to Buyer's Inspectors to Board the Vessel, collect product sample for Q&Q TEST/INSPECTION.

6. After a Successful Q & Q, the ($500,000.00) Five Hundred Thousand Dollars becomes cash and the Buyers Place total cargo instrument.

7. Seller introduces the buyer to the home office of the Vessel handler.

8. Payment for product is released to Seller's nominated bank in 72 hours after transshipment of product by MT-103 (swift transfer) at out-turn barrels upon presentation of the transaction documents at Buyer’s bank.

9. Thereafter, the Buyer places another SBLC to be auto-revolving / be validated for 12 months for 8million barrels monthly lifting.

FOB PROCEDURE –DIRECT TERMINAL LOADING NO.2

1. Seller issues Sales Purchase Agreement to Buyer, while the Buyer sign's and return PDF converted copy with vessel CPA, Q88, CPA invoice and ATL made out to NNPC via GGSL., BUYER INFORMATION SHEET, PASSPORT COPY OF THE DIRECTOR AND CERTIFICATE OF BUSINESS REGISTRATION TO SELLER as both parties lodge SPA with their respective banks.

2. Seller issues 2017 ALLOCATION-LETTER OF AUTHORITY (ATS) / MANDATE TO SELL CARGO AND REPRESENT THE NNPC/ JV OPERATORS BONNY TERMINAL to the buyer.

3. The Buyer’s bank issue SBLC OR BG OR BLOCK FUND VIA MT760 OR MT542 SWIFT to guarantee performance while seller issues a 2& Performance Bond to guarantee loading and delivering.

4. Seller program vessel for loading and notify buyer accordingly

5. NNPC Terminal open communication with buyer’s captain, clear the vessel and escort vessel to loading platform.

6. Seller loads vessel and buyer’s onboard inspector performs Q&Q test.

7. Inspectors release report to both parties while seller issues full cargo documents with CI in Buyer’s name.

8. Within 48 hours after inspection, buyer wires full payment to seller designated bank account.

9. Seller confirm payment, clears vessel and vessel sails to buyer’s Port Of Destination (POD)

10. Seller and Buyer makes subsequent shipment.

TTT PROCEDURE FOR WEST AFRICAN WATERS NO.3

1. Seller issues Sales Purchase Agreement to Buyer, while the Buyer sign's and return PDF converted copy with NOR/ETA format, BUYER INFORMATION SHEET, PASSPORT COPY OF THE DIRECTOR AND CERTIFICATE OF BUSINESS REGISTRATION TO SELLER as both parties lodge SPA with their respective banks.

2. Seller issues 2017 ALLOCATION-LETTER OF AUTHORITY (ATS) / MANDATE TO SELL CARGO AND REPRESENT THE NNPC/ JV OPERATORS BONNY TERMINAL to the buyer.

3. BUYER CAPTAIN EMAIL TO FOLLOWING EMAILS STATING READY WILLINGNESS TO RECEIVE CARGO AND CONFIRM EXACT LOCATION COORDINATES IN NIGERIA WATER: EMAIL MUST REF: GGSL (EMAILL ADDRESSES TO BE INSERTED HEREIN)

4. SELLER CAPTAIN ACKNOWLEDGE EMAIL AND MOVED TO LONG-SIDE WITH BUYER VESSEL.

5. BUYER CONFIRM PRODUCT AND ISSUE MT103/72 WITH $1M DRAW DOWN...TO SELLER ACCOUNT

6. CARGO TRANSSHIP AND BUYER PERFORM INSPECTION

7. BUYER RELEASE FULL PAYMENT TO WELLS FARGO BANK (SETTLEMENT ACCOUNT).

PROCEDURE FOR CIF ASWP Delivery

1. Seller issues Sales Purchase Agreement to Buyer, while the Buyer sign's and return PDF converted copy with PORT OF DISCHARGE STORAGE FACILITY DETAIL and NOR/ETA format, BUYER INFORMATION SHEET, PASSPORT COPY OF THE DIRECTOR AND CERTIFICATE OF BUSINESS REGISTRATION TO SELLER as both parties lodge SPA with their respective banks.

2. Seller issues ALLOCATION-LETTER OF AUTHORITY (ATS) / MANDATE TO SELL CARGO AND REPRESENT THE NNPC/JV OPERATORS BONNY TERMINAL to the buyer.

3. Buyer’s bank issues to Seller’s bank READINESS, WILLINGNESS AND ASSURANCE (RWA) by bank secured official email ONLY, stating their READINGNESS, WILLINGNESS AND ASSURANCE TO ISSUE STANDBY LETTER OF CREDIT (SBLC) VIA MT542 OR MT760 SWIFT TO THE SELLER'S BANK WITH SELLER'S VERBIAGE in the amount of ($100,000,000.00 USD) covering the full value of $100M. NOTE1: The RWA must come from a PRIME BANK Only Via Bank-To-Bank, NOT Swift.

4. Seller’s bank confirms the Buyer’s RWA by Bank Official secured email , stating their READINGNESS, WILLINGNESS AND ASSURANCE to issue a 2% Performance Bond upon receipt and validation of the Buyer’s SBLC. And then immediately thereafter, nominates and load the delivery vessel in Buyer’s name and submits to Buyer the Proof Of Product (POP)-, Full Cargo documents as follows;

(A) Clean Ocean Bill of Lading, One (1) Original and three (3) copiers.
(B) Seller’s Commercial Invoice, One (1) Original and three(3) copies.
(C) SGS/Saybold Certificate of Quality and Quantity, One(1) Original and three (3) copies
(D) Certificate of Origin issued by NNPC, One (1) Original and three (3) copies
(E) Certificate of Authenticity issued by NNPC, One (1) original and three (3) copies.
(F) Master’s receipt for Samples.
(I) Master’s receipt for Documents
(J) Cargo Manifest
(K) Cleanness report at loading Port and Lines B Charter Party Agreement.
(L) Authority To Sell (ATS) from NNPC

5. Buyer verifies/confirms cargo documents for the Vessel/Cargo (Per Lot), which shall properly be reflected on the NNPC DATA BASE at BONNY ISLAND. In maximum of 72hrs upon receipt of the Proof Of Product (POP)- Full Cargo Documents by the Buyer, The BUYER'S BANK shall ISSUES SBLC Via MT542 or MT760 Swift TO THE SELLER'S NOMINATED BANK ACCOUNT WITH SELLER'S VERBIAGE in the amount of ($100,000,000.00 USD). NOTE 2: The SBLC must come from a PRIME BANK Only Via MT542 or MT760 Swift Only.

6. The Seller instructs the Vessel Master/Captain to issue periodic Marine Notice Of Readiness (NOR) with Estimated Time For Arrival (ETA) to Buyer's Harbor/Terminal Master at Buyer’s Storage Facility Port-of-discharge and sail the vessel to the Buyer’s Port of discharge.

8. Upon arrival at the Port of Discharge, the vessel Captain issues a Marine Authority to Board (MATB) to Buyer’s inspection team and to perform the Quality and Quantity (Q&Q) inspection. The Inspection Team, at Buyer’s expense, boards the vessel and conducts the Q&Q inspection.

9. Upon confirmation of a positive Q&Q analysis report, Seller will present to Buyer a final Commercial Invoice duly-executed by the Seller for the full value of the measured barrels as determined by the final Q&Q analysis report, together with a full set of original shipping documents (endorsable/assignable) in Buyer’s name, to effect payment.

10. Within forty-eight (48) banking hours of Q/Q, Buyer pays in United States dollars via SWIFT MT103 Wire Transfer to the Sellers’ designated bank account the full value as determined by the final and confirmed Q&Q analysis report.

11. Seller immediately pays all agents/intermediary commissions in accordance with the Fee Protection Agreement provisions of this SPA/Agreement.

12. Seller’s bank confirms full payment receipt and acceptance by sending a SWIFT message acknowledgment to Buyer’s bank and Seller will render to Buyer the free and clear Certificate of Ownership/Title of Cargo (which shall be endorsable /assignable). Upon successful payment and title transfer of the product, the Harbor/Terminal Master releases the Tank Numbers and the Vessel Captain and Harbor/Terminal Master sign the Discharge or Delivery Note/Certificate for discharge of the cargo/vessel to commence immediately to Buyer’s designated storage facility.

13. A repeat of the procedure is applied per each month’s shipment/lot until final delivery as per the terms/schedule of The SPA Contract for the next 11 Months until the contract is termed;

PLEASE NOTE:

1. The RWA from the Buyer must come from a PRIME BANK only. NOT SWIFT
2. The RWA must be issue bank-to-bank by bank official secured email only
3. Only the SBLC must come by MT542 or MT760 Swift only….
4. Please note that we don’t work or accept MT799.
5. The POP/Cargo document is Void and Buyer pays $USD 2million penalty if SBLC is not received within 72 hours after receiving full Cargo Documents (POP) in the Buyer’s Name.