Buyers Published date: November 19, 2019

This is water buyer will do to secure the transaction. Buyer will issue Indemnity notorization in High court or supreme court



DRAFT LETTER OF INDEMNITY


BETWEEN:



SELLER



AND

 BUYER


 FOR THE PURCHASE OF 2M BARRELS  NIGERIA  BONNY LIGHT CRUDE  OIL


We (JEHILIGOCOMPANY LIMITED) refer to the supply contract with your company and wish to express our full commitment to executing the contract to the end thereof, Subject to the following terms.

1. Seller issue MATB to buyer supercargo and board them on a two million barrels vessels of BLCO along with N10m corporate Cheque in the name of seller

2. Upon confirmation of product and attestation released, buyer pay N100,000,000 Naira as logistics and documentation and place instrument for the total cargo (MT103) payable after Q&Q in Nigeria waters.

3. Seller shall make announcement of the cargo in buyers name after receiving initial payment made.

4. Other conditions as contained in the procedure subsist.

5. Accordingly, If this is not done as agreed, the BUYER will immediately make a payment of N10million to the SELLER without recourse as compensation for damages and inconveniences.

6.  If the seller fail to supply the above mention quantity and product to buyer with seven working days (7 days) as agreed, the seller will make a payment of N10, 000.000 for damages to buyer’s account without further delay


  However this INDEMNITY will be endorsed by both SELLER AND BUYER’S BANK or to be notarized it in the court of law to authenticate the document.


Wherefore, We further state that this undertaking and Indemnity letter, is binding on Buyer and Seller personally, on their estate.

Thanks for your cooperation.

Awaiting your good response.

Regards

James Olu

• 
  
  
• Publisher: OLUWALADE JAMES
• Company Name: JACK CHRIS INTL LTD
• Country: Nigeria

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