Sellers Published date: July 10, 2014 Modified date: January 2, 2015

Dear,
    We have Nigeria BLCO on TTO @ $12/8 to Cotonou, Ghana, Las Palmas & Rotterdam water if you can follow our below procedure.

We have this year past performance which  consist of full cargo documents, CPA, QnQ/Assay report,  etc, and it shall be duly given after signing our contract.

TTO PROCEDURE TO COTONOU/GHANA WATERS.

Buyer and seller execute, sign and seal the sales agreement and exchange copies via facsimile or hard copy. The electronically transmitted copy is acceptable and deemed legal binding. Buyer return signed SPA with his NOR/ETA details.

Seller shall give this year past performance containing Cargo
Documents, ATS and QnQ/Assay report and Buyer through his Bank writes
an assurance/request letter that on receipt of NOR/ETA from Seller`s
loaded vessel, they will issue an ESCROW FUND of US$1 MILLIONS in
favour of Seller cashable in full after Q&Q inspection or issue MT799
BLOCKED FUNDS in favour of Seller Fiduciary Bank details with a CLAUSE
that if buyer fail to ESCROW upon receipt of NOR/ETA buyer will pay
for the seller cost of nominating, loading the vessel and issuance of
the NOR/ETA and if seller fails to issue NOR/ETA, seller shall pay the
buyer's bank the cost of issuance of the assurance letter.

Seller confirms Buyer`s assurance letter, then issues NOR/ETA to
Buyer`s in Buyer`s format.

Buyer confirms NOR/ETA from the captain, then acknowledge the NOR. On
acknowledgement of NOR, Buyer issue US$1 MILLIONS ESCROW  FUND or
issues MT799 BLOCKED FUND by swift for the total value of cargo to
Seller Fiduciary Bank details based upon Seller`s verbiage with a copy
sent to Seller.

Seller confirms the ESCROW FUND OR BLOCKED FUND, then instruct the
captain of the loaded vessel to issue a final ETA to Buyer`s in
Buyer`s format.

Buyer confirms ETA from captain and makes all necessary arrangement
for vessel arrival.


PLEASE NOTE: WE ARE USING NNPC CHARTERED VESSELS THEREFORE THE ONE WAY
VOYAGE CAN BE DONE WITH NNPC NOMINATED LOCAL VESSEL HANDLER SO THE
BUYER MUST BE SURE OF APPOINTING A LOCAL SHIPPING AGENT IN COTONOU OR
GHANA TO CLEAR OUR LOADED VESSEL TO THE LOCATION OF Q&Q INSPECTION.


Seller`s vessel sails to Buyer Q&Q position in Ghana waters, drop
anchor and Buyer clears her to the Q&Q point. Captain issues Marine
ATB to Buyer`s inspectors to conduct Q&Q inspection. Immediately after
the Q&Q inspection, Buyer unscrews the US$1 MILLION for Seller to cash
it.

If Buyer did an escrowed fund then at this stage, Buyer issues an
MT799 BLOCKED FUND for the full value of the cargo less the US$1
MILLION.

Seller confirms instrument, then introduce the Buyer to the local
vessel handler to enable him do a one way voyage charter on the
vessel.

On confirmation of charter by the Buyer, Buyer makes payment for the
full cargo based on the quantity stated on the Q&Q report via MT103
cash wire transfer upon receipt of Seller`s commercial invoice and Pay Order.

Seller confirms funds in his account and issue all other relevant cargo documents to Buyer in Buyer`s name including warranty of title/certificate of ownership. Buyer confirms documents and vessel sails off.

PROCEDURE FOR LAS PALMAS OR ROTTERDAM.

This procedure can work for both CIF and TTO but different discounts.

For TTO to Las Palmas/Rotterdam, $12/8
For CIF to Las Palmas/Rotterdam, $9/5.

After signing.

Seller give buyer this year past performance including assay reports.

Buyer instruct his bank to write to the sellers bank stating that upon
receipt of ETA in buyer's format to buyer's QnQ point (LAS PALMAS OR
ROTTERDAM) buyer will swift either SBLC, MT760 or  MT799 blocked fund
for the TOTAL CARGO into sellers account, with a CLAUSE that if buyer
fails to swift the funds after the ETA, buyer shall pay for the
seller's cost seller spent in nominating a vessel, loading logistics
and for issuance of ETA.

Upon receipt of the letter, seller issue ETA in buyer's format and
buyer blocked funds to the sellers account for the total cargo.

Upon confirmation of the funds, seller's vessel sail to buyer's QnQ
point (LAS PALMAS OR ROTTERDAM ) and other things will follow.

OUR RECORDS CAN SPEAK FOR US.

Thanks

• 
  
  
• Publisher: patrixayintradingcompany
• Company Name: PATRIXAYIN TRADING COMPANY
• Country: NIGERIA

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