Product Description

BLCO PROCEDURE: CIF/TTO/TTT

1. SELLER AND BUYER SIGN AND SEAL SPA AND DEPOSIT SAME WITH THEIR RESPECTIVE BANKS.

2. BUYER RETURNS SIGNED SPA TO SELLER ALONG WITH NOR /ETA FORMAT ANNOUNCEMENT/ATB FORMATS, TOGETHER WITH THE DETAILS OF HIS INSPECTOR AND SUPERCARGO. PASSPORT

3. BUYERS BANK SENDS BCL, RWA, DLC, SBLC OR MT**9 BASED ON VERBIAGE ACCEPTED BY SELLER TO SELLERS BANK.

4. SELLER MOVES VESSEL TO CHINA OR EUROPE WATERS AND ISSUES MATB TO BUYER SUPERCARGO AND INSPECTOR

5. BUYER'S INSPECTORS BOARD AND CONDUCT Q&Q QUANTITY AND QUALITY.

6. AFTER SUCCESSFUL Q&Q RESULT BUYER PAYS FOR TOTAL PRODUCT VIA MT**3 AND THE COMMISSION TO ALL AGENTS. BUYERS SHIPPING AGENCY COMMENCES ACTION FOR IMMEDIATE DISCHARGE OF PRODUCT AFTER CUSTOMS DECLARATION.

7. SELLER CONFIRMS THE WIRE TRANSFER AND RELEASES THE CARGO'S TITLE AND ORIGINAL SHIPPING DOCUMENTS INCLUDING FULL POP IN THE NAME OF BUYER VIA BANK TO BANK WITHIN TWO (2) BANK WORKING DAYS. COMMISSION MUST BE PAID SIMULTANEOUSLY BY SELLER TO ALL AGENTS / FACILITATORS / MANDATES AS PER IMFPA IF ANY

Stephen
Hermanson

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