BLCO

SELLING PROCEDURE: TTO NIGERIA WATERS BLCO 2MBLS $13/4 1. BUYER RETURNS THE SIGNED SPA WITH HIS ATB FORMAT AND INSPECTOR DETAILS. THE SUPPER CARGO MUST BE NNPC ACCREDICTED SUPER CARGO WITH HIS AND INSPECTION COMPANY RECEIPT.2. UPON SELLER'S RECEIPT OF ITEM 1 ABOVE, SELLER INSTRUCTS THE LOADED VESSEL CAPTAIN TO ISSUE MARINE AUTHORITY TO BOARD (MATB).3. CLEARANCE WILL THEN BE ISSUED TO BUYER SUPERCARGO AND INSPECTOR IN NIGERIA WATERS.4. UPON RECEIPT OF MATB, SELLER TAKES THE TEAM ON BOARD LOADED CARGO. BUYER’S SUPERCARGO CONFIRM PRODUCT AND TAKE SAMPLE. 5. SUPERCARGO REMAINS ON BOARD, BUYER PAYS CASH OF HUNDRED MILLION (#100,000.000.00) NAIRA FOR LOGISTICS INTO SELLER’S ACCOUNT AFTER ATTESTATION FROM THE LOADED CARGO CAPTAIN DULLY SIGNED BY SUPER CARGO IS RELEASED, WHILE INSPECTOR DISEMBARKS FROM LOADED VESSEL WITH PRODUCT SAMPLE AND CONDUCT QUALITY AND QUANTITY (Q&Q) TEST.6. BASED ON THE RESULTS OF THE QUALITY AND QUANTITY (Q&Q) TEST, BUYER PLACES MT103 FOR THE WHOLE CARGO LESS #100,000,000.00 INITIALLY PAID FOR LOGISTICS.7. INSPECTOR SENDS THE QUALITY AND QUANTITY (Q&Q) TEST RESULTS TO SELLER AND SOFT COPY TO BUYER'S BANK8. BUYER EFFECTS FULL PAYMENTS BY SWIFT MT103/23 FOR THE ENTIRE CARGO LESS #100,000,000.00 TO SELLER AND PAYS COMMISSIONS TO ALL BENEFICIARIES AS CONTAINED IN THE SPA. 10. SELLER HANDS OVER HARD COPIES OF CARGO DOCUMENTS TO BUYER AND INTRODUCES BUYER TO VESSEL HANDLER TO RECHARTER THE LOADED VESSEL. 11. LOADED VESSEL SAILS TO BUYER'S DESTINATION.