Sellers Published date: June 21, 2015

Nominations, Shipment & Procedures TTO


1. Buyer and Seller sign SPA with full banking details and buyer’s ATB format and deposit same in their respective banks

2. Buyer’s bank issues non-operative LETTER OF CREDIT (LC) for the entire cargo by swift transfer to the seller’s bank.

3. Seller’s bank issues 2% PERFORMANCE BOND(PB) to Buyer to activate the buyer’s LETTER OF CREDIT (LC)

4. Seller nominates vessel, loads, issue marine ATB and Clearance to the buyer’s supercargo and inspector, boards them, for Q&Q in Nigeria international water.

5. Q&Q is conducted.

6. Q&Q report is sent to buyer’s bank , captain and seller.



7. Seller gives all original cargo documents in buyer’s name to the buyer’s bank.



8. Seller introduces the vessel handler to the buyer to enable buyer place full charter on the vessel.

9. Letter Of Credit(LC) turns to cash and vessel sails to buyer’s port of discharge.

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• Publisher: adomi omoka
• Company Name: OMOKS TRADING
• Country: NIGERIA

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