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Contact Person Mr. Efosa
27, Ibusa street., Agbarho, Delta State
1. Buyer counter-sign SPA and issues ATB format, Inspectors/Supercargos details along with scanned copies of their International Passports and ETA format.
2. Seller instructs captain to issue ETA/NOR to buyers port
3. Buyer blocks $**0,**0 in sellers account
4. After confirmation of blocked funds, vessel sets sail to Ghana/Cotonou waters.
3. Captain announces arrival to harbormaster, invites buyers independent inspectors to get on board vessel for Quality and Quantity (Q & Q) analysis.
4. Buyer boards his inspection team.
5. Upon confirmation of product, block funds liquidate to cash of $**0, **0
6. On successful conclusion of Q&Q analysis, all original documents shall be transferred to buyer.
7. Seller introduces buyer to the Vessel Handler for buyer to re-charter the vessel.
8. Payment for product and commissions is released to seller and beneficiaries as per out-turns within *8 hours by NEFT/NIBB
PROCEDURE B
1. Buyer, upon signing the SPA, will instruct his account
officer to send a mail to our bank stating that upon confirmation
of product, that they will place instrument within *8 hours. This
letter will be sent to seller for confirmation.
2. Seller, upon receipt of 1. Above and, signed SPA/ATB FORMAT. Will issue MATB and CLEARANCE from captains domain of a loaded vessel and board buyer supercargo/inspectors on the said vessel.
3. Upon Buyers supercargo/inspectors boarding and confirming
product on-board the loaded vessel (attestation comes out), buyer
will pay full instrument (blocked fund) for the entire cargo within
*8 hours.
4. The inspector conducts Q&Q and a copy sent to both
seller and buyer.
5. Upon successful conduction of Q&Q, and release of
Q&Q result, Buyer will pay via MT**3/*3 for entire cargo.
6. Seller introduces buyer to vessel owner for re-charter and upon successful conclusion of change of documents into buyers name, buyer pays via swift MT**3. Seller bears the cost of his account and Buyer bears the cost of his account Seller/Buyers option
