Sellers Published date: August 5, 2014 Modified date: January 2, 2015

QUANTITY: 1,000,000 barrels to 3,000,000 barrels (plus/minus5%) per shipment.

PRICE: $7 net to buyer and $1 to buyer's agents

VESSEL IMO NUMBER WILL BE GIVEN FOR TRACKING WITH SPA.

TRANSACTION PROCEDURE : TTO GHANA WATERS

1. SELLER AND BUYER SIGNS SPA, BUYER RETURN SPA WITH Bank endorsed B C L. SELLER WILL RETURN SPA WITH COMMERCIAL INVOICE (CI) AND SENDS TO THEIR RESPECTIVE BANKS. BUYER FORWARD NOR INFO TO SELLER INCLUDING BUYER CARGO AGENT FULL INFORMATION.

2. SELLER FORWARDS ALL AVAILABLE POP: CI / SPA; ATS, B/L, CARGO MANIFEST, CERTIFICATE OF ORIGIN, ATB and CNNPC CLEARANCE

3. BUYER’S BANK ISSUES MT 760 / MT 799 TO SELLER’S BANK AS STATED IN THE CI / SPA IN THE TOTAL VALUE OF THE CARGO LOADED ON BOARD VESSEL.

4. SELLER VESSEL CAPTAIN ISSUES NOR (NOTICE OF READINESS) / ETA TO BUYER’S DESTINATION PORT AND CARGO AGENT.

5. SELLER PERFECTS ALL RELEVANT DOCUMENTS TO THE TRANSACTION IN BUYER’S NAME

SELLER HANDS OVER THE FOLLOWING LOADING DOCUMENTS TO BUYER.

• Cargo Bill of Lading
• Commercial Invoice
• Certificate of Quantity
• Certificate of Quality
• Certificate of Origin
• Tanker Time Sheet
• Vessel Cargo Manifest
• Master Receipt of Product

6. UPON VESSEL ARRIVAL AT GHANA WATERS, BUYER’S INSPECTORS CONDUCT Q&Q AND CONFIRMATION OF THE PRODUCT. THE INSPECTOR FORWARDS THE RESULT TO BOTH BUYER AND SELLER.

7. BUYER RELEASES PAYMENT BY MT 103 (SWIFT WIRE TRANSFER) TO SELLER’S BANKS AND INTERMEDIARY ACCOUNTS AS SUBMITTED BY THE SELLER, WITHIN 24 HOURS OF DIP TEST.

8. SELLER’S VESSEL COMMENCE DISCHARGE.

9. SELLER WILL INTRODUCE THE VESSEL HANDLER TO BUYER FOR RECHARTER OF VESSEL.

10. VESSEL SAILS TO BUYER’S FINAL DISCHARGE PORT.

PLEASE ONLY SERIOUS BUYERS WHO CAN FOLLOW SELLER'S PROCEDURE SHOULD CONTACT ME.

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