REF-NDP-BLCO-AMG-071316-TTO-CGL

BLCO TTO GHANA, LOME OR COTONOU

WATERS PROCEDURE

  1. BUYER AND SELLER EXECUTE, SIGN AND SEAL THE AGREEMENT AND EXCHANGE COPIES VIA FACSIMILE OR ELECTRONIC MAIL. BUYER ATTACHES NOR/ATB FORMAT THE ELECTRONICALLY TRANSMITTED COPY SIGNED AND SEALED BY BOTH PARTIES SHALL BE CONSIDERED LEGALLY BINDING AND ENFORCEABLE.
  1. BUYER RETURNS THE SIGNED CONTRACT WITH HIS FULL NOR/ETA/ATB FORMAT WITHIN 24 HOURS.SUPERCARGO MUST BE REGISTER WITH NNPC, WHILE INSPECTOR SHOULD BE FROM EITHER OVERSEAS MARINE INTERNATIONAL SERVICES OR CALIBRATE INSPECTION SERVICES LTD OR SGS.
  1. BUYER REQUESTS A GUARANTEE AND PERFORMANCE LETTER FROM NNPC WITH NNPC FUDICIARY NOMINATED ACCOUNT FOR LOGISTICS FEES. BUYER SHALL STATE IN HIS LETTER THAT HE IS READY WILLING AND ABLE TO PAY THE LOGISTICS FEES TO NNPC NOMINATED ACCOUNT THRU THE JV/SELLER.
  2. NNPC SENDS A GUARANTEE AND PERFORMANCE LETTER TO BUYER
  1. BUYER PAYS THE SUM OF $250,000.00USD FOR LOGISTICS FEES INTO NNPC NOMINATED ACCOUNT.
  1. UPON CONFIRMATION OF THE LOGISTICS FEES SELLER INSTRUCT VESSEL CAPT. TO ISSUE MATB AND CLEARANCE FOR SUPERCAGO TO COME ONBOARD FOR CONFIRMATION OF PRODUCT.
  1. UPON CONFIRMATION OF PRODUCT BY BUYERS SUPERCARGO SELLER SHALL INSTRUCT LOADED VESSEL CAPT TO ISSUE NOR/ETA AND PROCEED TO 12-15NM FOR BOARDING PROTOCAL, THE VESSEL WILL ANCHOR AT 12-15NM IN COTONU WATERS. THE CAPTAIN WILL ISSUE MATB, UPON THE RECEIVING THE MATB NNPC REP. WILL PROCEED TO TAKE BUYER’S INSPECTORS ONBOARD THE VESSEL FOR Q&Q TEST AT AN AGREED TIME
  1. THE BUYER’S INSPECTORS SHALL BOARD LOADED VESSEL IN COTONU WATERS 12-15 NAUTICAL MILES AND COLLECT SAMPLES AND COME DOWN WHILE SUPERCARGO REMAINS ON BOARD.
  1. UPON SUCCESSFUL CONFIRMATION OF THE PRODUCT AND SAMPLES FOR Q&Q, BUYER WILL RECEIVE AN ATTESTATION LETTER.
  1. BUYER'S INSPECTORS SHALL PERFORM Q&Q AND THE RESULT IS PRESENTED TO BOTH BUYER AND SELLER. SELLER SHALL ISSUE HIS FINAL COMMERCIAL INVOICE TO THE BUYER LESS LOGISTIC PAYMENT AND WITHIN 48 HOURS OF THE Q&Q REPORT, BUYER'S BANK SHALL MAKE PAYMENT VIA MT103 FOR THE FULL CARGO VALUE TO SELLER'S ACCOUNT, AND SIMULTANEOUSLY MAKES PAYMENT INTO ALL AGENT'S / FACILITATOR'S ACCOUNTS ON THE CONTRACT.
  1. SELLER INTRODUCES BUYER TO VESSEL OWNERS TO COMPLETE RE-CHARTER OF THE VESSEL IN BUYER’S NAME.
  1. SELLER VERIFIES PAYMENT AND ALL SHIPPING DOCUMENTS /TITLE DOCUMENTS ARE HANDED OVER TO THE BUYER.
  1. VESSEL IS ALLOWED TO SAIL TO BUYER'S POD.

IF BUYER AGREES ON THE PROCEDURE AS IS, PLEASE REQUEST SPAFROM:

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