2 MILLION BARRELS OF BLCO AVAILABLE IN GHANA

TRANSACTION: TTO

PRICE: $14/4

PROCEDURE TTO GHANA WATERS

1. SELLER ISSUES THE SPA ALONG WITH HIS CIS INCLUSIVE OF HIS VALID IDENTIFICATION CARD. PARTIES SIGN AND THE BUYER RETURN THE SIGNED CONTRACT WITH HIS NOR, MATB FORMAT & CIS INCLUSIVE OF HIS INT’L PASSPORT. PARTIES DEPOSIT THE SIGNED CONTRACT WITH THEIR BANKS FOR RECORD AND INFORMATION. THE CONTRACT SO SIGNED ELECTRONICALLY IS CON-SIDERED LEGALLY BINDING AND ENFORCEABLE AND CANNOT BE ALTERED WITHOUT THE WRITTEN CONSENT OF BOTH PARTIES.
2. BUYER SHALL WITHIN 24 HOURS AFTER THE SIGNING OF THIS SPA, A COURT NOTORIZED IN-DEMNITY TO PAY BACK IF ANY FAILURE WITHIN 48HOURS OF NOT GETTING LOANDED VESSEL CAPTAIN TO ISSUE MARINE ATB FOR BOARDING FOR QANDQ.
3. BUYER PAYS CASH TRANSFER OF $20,000 DOLLARS AS COMMITMENT FOR LOGISTICS. UPON CONFIRMATION OF THE PAYMENT SELLER SHALL INSTRUCT LOADED VESSEL CAPTAIN TO ISSUE MARINE ATB INVITING BUYERS SUPERCARGO AND INSPECTOR TO BOARD THE LADEN VESSEL OF CURRENTLY IN LOME WATERS.
4. BUYERS SHIPPING AGENT ACKNOWLEDGES NNPCL /VESSEL MASTER’S BOARDING INVITATION LETTER.
5. BUYER’S INSPECTION TEAM BOARDS LOADED VESSEL AND CAPTAIN ISSUES TO BUYER AND SELLER AN ATTESTATION LETTER CO-SIGNED BY BUYER’S SUPERCARGO ATTESTING TO THE AVAILABILITY OF PRODUCT ON BOARD LOADED VESSEL. THE INSPECTOR TAKES SAMPLES FOR QUANTITY AND QUALITY ANALYSIS AND DISEMBARKS WHILE SUPERCARGO REMAINS ON BOARD.
6. BUYER PAYS DEDUCTIBLE ONE MILLION DOLLARS USD1MILLION DOCUMENTATION FEES. THE SELLER SHALL RELEASE THE FOLLOWING PARTIAL DOCUMENTS IN BUYER’S NAME TO BUYER AFTER DISEMBARKATION OF BUYERS INSPECTOR; CUSTOMS OUTWARD CLEARANCE, TANK ULLAGE REPORT, BILL OF LADEN, VESSEL Q88, MASTERS RECEIPT, CARGO MANIFEST, CERTIFICATES OF QUALITY & QUANTITY, N.N.P.C CERTIFICATE OF AUTHENTICITY/WARRANTY OF TITLE, MARINE ATB. ALL OUTSTANDING DOCUMENTS SHALL BE ISSUED AFTER Q & Q ANALYSIS AT THE TAKEOVER POINT.
7. SELLER INTRODUCES BUYER TO LOCAL HANDLERS FOR RE-CHARTERING OF LOADED VESSEL.
8. THE INSPECTOR CONDUCTS QNQ AND SENDS A COPY OF THE REPORT TO BOTH BUYER AND SELLER. SELLER ISSUES COMMERCIAL INVOICE TO BUYER AS PER QNQ REPORT AND WITHIN 3 BANKING DAYS, BUYER’S BANK MAKES PAYMENT VIA MT103 TT SWIFT WIRE TRANSFER FOR THE TOTAL VALUE OF THE CARGO , AS PER QNQ REPORT, COMMERCIAL INVOICE AND ORIGINAL DOCUMENTS RECEIVED BY THE BUYER’S BANK AND IS MADE INTO THE SELLER’S NOMINATED BANK ACCOUNT AND COMMISSIONS TO ALL AGENTS AND FACILITATORS SIMULTANEOUSLY AS AGAINST PAYMENT RECEIPT.
9. SELLER CONFIRMS PAYMENT AND ISSUES PAYMENT RECEIPT TO BUYER AND HARD COPIES OF FULL CARGO DOCUMENTS (TOTAL ORIGINAL AND COPIES) SENT TO BUYER’S BANK VIA COURIER SERVICES.
10. BUYER COMPLETES RE-CHARTERING OF LOADED VESSEL, AND THE VESSEL SAILS TO BUYER’S PORT OF DISCHARGE.
11. TRANSACTION TERMINATES