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AGO LAGOS TANK FARM DELIVERY WITH 2%PB AVAILABLE AT N640-2
Available for Lagos TFD.
- - *N200M bank draft - 2%PB*
- - *N500M BEC - 2%PB*
- - *Only Lagos TFD*
*TRANSACTION PROCEDURE ON TFD LAGOS WATERS:*
1. SELLER ISSUES SPA AND INVOICE BY ELECTRONIC MEANS, BUYER SIGNS AND RETURNS WITH THROUGHPUT AGREEMENT AND MATB/NOR FORMAT, TANKFARM DOCUMENTS AND HIRING RECEIPT.
2. BUYER'S BANK ISSUE CASH BACKED N200 MILLION DRAFT OR N500M BEC TO SELLER BANK WITH COVERING NOTES AND COPY SELLER EMAIL FOR CONFIRMATION. THE ORIGINAL COPY OF THE DRAFT IS KEPT IN BUYER'S BANK.
3. UPON CONFIRMATION OF BUYER INSTRUMENT, SELLER BANK ISSUES 2%PB TO BUYER BANK.
4. SELLER ISSUES NOR/ETA WITHIN 7 WORKING DAYS TO BUYER'S TANK FARM FACILITY. BUYER'S TANK FARM MANAGER ACKNOWLEDGES THE NOR WITHIN 24HOURS.SELLER CARRY OUT INWARD & OUTWARD CLEARANCE AND ORDERS LOADED VESSEL CAPTAIN TO MOVE CARGO TO BUYER'S DESIGNATED TANK FARM.
5. UPON ARRIVAL OF VESSEL AT THE DESIGNATED TANKFARM, THE CAPTAIN TENDERS NOTICE OF ARRIVAL (NOA) AND ISSUE MATB TO BUYERS INSPECTION TEAM TO BOARD FOR CALIBRATION AND SAMPLING OF PRODUCT FOR LAB ANALYSES AND UPON PRESENTATION OF SUCCESSFUL Q&Q REPORT, BUYER PAYS 50% OF TOTAL CARGO BEFORE DISCHARGE. SELLER CONFIRMS PAYMENT AND INSTRUCT CAPTAIN TO DISCHARGE IMMEDIATELY. AFTER DISCHARGE, SELLER PRESENT CERTIFICATE OF DISCHARGE AND ORIGINAL CARGO DOCUMENTS AND PAYMENT ADVICE TO BUYER/HIS BANK.
6. BUYER PAYS FOR THE BALANCE 50% OF TOTAL CARGO WITHIN 48 BANKING HOURS AND PAY ALL AGENT AND FACILITATORS. UPON CONFIRMATION OF PAYMENT, TRANSACTION CLOSES AND PARTIES CAN ON MUTUAL AGREEMENT REENGAGE FOR SUBSEQUENT DELIVERIES.
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