Sellers Published date: April 21, 2014

1. Seller issues Draft terms - SPA and Buyer completes, signs the Sales Purchase Agreement, return with inspectors and/or supercargo details within 24 hrs. Seller signs, seals contract and reverts to Buyer. Both deposit contract in their bank.
2. Seller issues ATB, originated at behest of Seller for counterparty, by proper National Marine Authority and to Buyer's Super Cargo.
3. Super cargo to go on board vessel within 24 hours after issuance of Marine ATB. Product confirmed.
4. Buyer’s bank within 36-hrs issues irrevocable transferable confirmed LC/BG (VIA MT760 with logistics completion withdrawal allowance) to Seller’s bank in favour of Seller.
5. Seller upon confirmation of the M760 prepares official international compliance cargo documents visible on “compliant trade and bank screens” in buyer’s name.
6. Seller vessel issues ETA/ATB to buyer inspector and moves to 5 nautical miles off cotonou international waters for Q&Q inspection.
7. Upon the arrival of Seller vessel in Cotonou international waters. Buyers Inspector comes on board the vessel for Q&Q Inspection.
8. After Quality and Quantity analysis the buyer’s payments are made according to instructions on the Proforma/Invoice or Irrevocable Payment Order by MT103-Swift Telegraphic Wire Transfer directly to the Seller bank accounts within 24 hrs as stipulated in the Payment Schedule stipulated in this contract within three (2) international banking days.

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• Publisher: kazeem Bolanta
• Company Name: Al-amin oil and gas limited
• Country: Nigeria

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