Sellers Published date: April 14, 2014 Modified date: January 2, 2015

Below is my Title Holder selling procedure and if buyer is not okay with this. Kindly revert back to me if you have any 100% RWA buyer so we can close the deal asap.

1. Buyer issue an LOI with
2. Seller send a quote,.
3. Buyer accept and issues and ICPO with full banking coordinate
4. Seller issued a profoma invoice for only trail spot of 1-2million barrels for buyer to sign.
5. Seller issues a draft SPA for review, and amendment. No electronic contract is acceptable.
6. Buyer return a draft completed ready SPA. TTM is arrange in UK at seller administrative branch location or at Seller office in Prague or Seller Legal office in Lagos for signing of hard copy contract and notarized.
7. Buyer sends the ATB Format and the Supercargo details,
8. Buyer bank issues MT799 block fund for 100million dollars or MT760 value of 20 Million or DLC value of 200 million dollars to seller’s bank.
9. Seller issued 2% PB only
10. Seller proceeding to programming, nominate vessel, load and pull vessel out for inspection. Full laycan and loading document indicating buyer as consignee shall be given to buyer bank to bank for buyer verification before given marine ATB and Clearance to board
11. Buyer inspect board, take sample for inspection, and upon positive result, Seller move Vessel to Cotonou Water for TTO sale.
12. Full charter agreement is transferred to Buyer.
13. Buyer witin 3 banking days releases payment by TT/MT103 to seller’s bank account for teh value of full cargo and intermediaries commissions.
14. Title shall be transferred to buyer bank to bank upon confirmation of payment

Nurudeen Momodu
Vice Chairman
Sc47 Global Links
Port Harcourt, Nigeria

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• Publisher: SC47 Global Links
• Company Name: SC47 Global Links
• Country: Nigeria

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