Update procedures: only end seller pls to contact us *TRANSACTION PROCEDURE (NON-NEGOTIABLE):* 1. SELLER ISSUES CONTRACT & CIS AND BUYER COUNTER SIGNS AND RETURNS WITH CIS-CLIENT INFORMATION SHEET, NOR ETA FORMAT, ATB FORMAT WITH SCANNED PASSPORT COPY OF SUPERCARGO AND INSPECTOR DETAILS. 2. SELLER GIVES TO BUYER: i) ACKNOWLEDGMENT LETTER FROM SE Show More...
Update procedures: only end seller pls to us *TRANSACTION PROCEDURE (-NEGOTIABLE):* 1. SELLER ISSUES CONTRACT & CIS AND BUYER COUNTER SIGNS AND RETURNS WITH CIS-CLIENT INFORMATION SHEET, ETA FORMAT, ATB FORMAT WITH SCANNED PASSPORT COPY OF SUPERCARGO AND INSPECTOR DETAILS. 2. SELLER GIVES TO BUYER: i) ACKLEDGMENT LETTER FROM SELLER. ii) THE LOADED VESSEL DETAILS (IMO ) FOR BUYER TO TRACK AND CONFIRM. iii) Seller's provides shipping agent in China 3. AFTER BUYER TRACKS VESSEL and autentication of the Pop, BUYER SEND TO SELLER BANK WITHIN 72HRS OF RECEIVING DOCUMENTS AS STATED IN 2. BUYER THEN ISSUES *760SBLC MT700DLC MT799 BLOCKED FUNDS MT103-72 SWIFT* (STRICTLY ACCORDING TO THE VERBIAGE AT THE END OF CONTRACT) FOR TOTAL CARGO TO SELLER’S FIDUCIARY BANK. 4. UPON CONFIRMATION OF THE INSTRUMENT, SELLER SENDS CARGO DOCUMENTS (POP) IN PROGRAMMED IN BUYER'S NAME. ALSO SELLER INSTRUCTS THE CAPTAIN OF THE LOADED VESSEL TO ISSUE ETA AS VESSEL BEGINS TO SAIL TO BUYER’S POD. 5. UPON ARRIVAL IN BUYER’S POD, SELLER ISSUES MARINE ATB TO BUYER'S INSPECTION TEAM. BUYER APPOINTED INSPECTOR AND SUPER CARGO GOES ONBOARD FOR FINAL INSPECTION AND QUALITY & QUANTITY ANALYSIS. 6. WITHIN 72 HOURS AFTER DISCHARGE OF CRUDE OIL AT BUYER’S PORT OF DESTINATION OR TO THE BUYER’S STORAGE TANKS, THE BUYER PAYS FOR TOTAL CARGO AGAINST PRESENTATION OF STATED SHIPPING DOCUMENTS AS PER THE FINAL CIQ SGS Q&Q REPORT ISSUED BY INDEPENDENT INSPETOR AT THE PORT OF DISCHARGE VIA MT103 T T WIRE TRANSFER TO THE NNPC'S INATED FIDUCIARY ACCOUNT AND COMMISSION TO ALL AGENTS AND FACILIATATORS.
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