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*2MBR BLCO TO GHANA WATER WITH 2% PERFORMANCE BOND ON 200M DRAFT*
*PROCEDURE*
1.Seller and Buyer signs the Sales and Purchase Agreement (SPA) which includes both parties full Banking co-ordinates. Both parties deposits the signed and sealed SPA in their respective Banks.
2. Buyer returns signed contract with his MATB/NOR FORMAT, Supercargo/ Inspectors details with there documents. Seller sends accounts to receive Two Hundred Million Naira (#200 ,000,000, 00) Bank Draft with Bank Confirmation letter in favour of seller to seller's nominated bank account . Buyer issues draft and Seller issues 2% Performance Bond in favour of the buyer.
3. Seller confirms the instrument and issues NOR and in Ghana waters, seller issues MATB and Boards Buyers Supercargo and Inspector to confirm product Quality and Quantity test.
4. After confirmation of cargo and receipt of Attestation signed by Buyers Supercargo and the loaded Vessel captain, Inspector comes down with the sample for analysis. Buyer Pays One Million Dollar [$1, 000,000.00] to Seller's Account upon completion of Q&Q for Logistics and Documentation.
Q&Q Result Will be given to all parties. (Seller and Buyer)
5. Seller Introduces buyer to vessel handler for rechartering loaded cargo to point of discharge.
6. Buyer's bank within 24 hours issues payment via MT103/Electronic Funds Transfer to Seller's nominated accounts (as per the final invoice) for the full cargo and all agents / facilitators less all advances.
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