Sellers Published date: March 18, 2020

BLCO FOB/CIF/TTO/TTT

Buyer and Seller sign, seal, and exchange copies of the Sales & Purchase Agreement (SPA), then forward executed copies to their respective banks. Electronic signatures are binding and enforceable.

Buyer send ATB/NOR FORMAT, WHICH SHALL INCLUDE THE NOMINATED SHIPPING AGENT, INSPECTION COMPANY AND CONTACT DETAILS AND PHONE NUMBERS, PHOTOCOPY OF SUPERCARGO & INSPECTORS PASSPORTS & ID CARDS AND PHONE NUMBERS.

BUYER RAISE SBLC OF $500,000:00 {FIVE HUNDRED THOUSAND US DOLLARS STANDARD COMMERCE BANK, USA, IN FAVOUR OF SELLERS FUDICIARY PARTNER FOR LOGISTICS, WHICH STAYS AS SECURITY FOR THE DURATION OF 365 DAYS.

Upon confirmation of the SBLC, Seller, instructs Vessel Master to issue a Notice of Readiness (NOR) and Estimated Time of Arrival (ETA) to Buyer’s designation port for Q&Q with notification to Harbor Master, Buyer/Buyer’s Bank and buyer’s appointed Inspection Agency for actual time of arrival at 72, 48 and 24 hours before arriving 10-12NM at the agreed location for boarding. AIS transponder shall be switched on and stay on.

Upon arrival at the Buyer’s Port, vessel master shall announce to Buyer’s port and issue ATB/CLEARANCE; Buyers agent acknowledge and clears the vessel inward and Vessel master invites Buyer’s supercargo and inspector to board via MATB, sample is taken, while supercargo remains on board:, Upon release of attestation signed by vessel captain and buyer’s inspector and supercargo, Buyer releases $500,000.00 (Five Hundred Thousand DOLLAR LOGISTIC) to the seller.

Seller issues to Buyer a Commercial Invoice based on “Q&Q” report out-turn quantity basis, issues Buyer all original documents in Buyer’s name and introduce Buyer to vessel handlers/owner.

Buyer's bank issues payment via SWIFT MT103 for final payment of cargo, less the logistics based on Q&Q report within latest Three - Five (3-5) banking days, including agents/brokers payment simultaneously to all.

Upon confirmation of Buyer’s payment, vessel sails or discharges.

Next shipment begins.

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• Publisher: Nigerian BLCO
• Company Name: ALPHALINE VESSELS LIMITED
• Country: NIGERIA

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