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Procedures for our product is as thus;

LPFO.. TTO. 77-5
1. That Seller and Buyer sign and seal sales contract agreement and exchange the signed copy by electronic mail. The electronic signed copy by both parties is considered legally binding and enforceable.
2. That Seller gives Buyer proof of product (POP) for verification and confirmation at PPMC.
3. Upon confirmation of proof of product (POP), buyer should officially write with its corporate letter-headed paper to seller that the POP has been confirmed and also authorize seller to nominate vessel in his (the buyer’s) name with bank guarantee (BG) or block fund into seller’s account.
4. That the Seller shall supply to the Buyer the commodity known and called LOW POOR FUEL OIL (LPFO).
5. That the quality must meet NNPC standard specification mentioned above.
6. That the quantity shall be 500, 000 metric tons revolving monthly.
7. That delivery is on TANKER TAKE OVER basis (TTO)
8. That Seller nominates vessel in Buyers name for programming and forwarding soft copies of Vessel details with laycan date to the Buyer for confirmation.
9. Seller loads Buyer’s vessel and forward soft copies of the loaded cargo vessel details to Buyer for confirmation.
10. Seller issue marine ATB to Buyer’s nominated inspectors for physical confirmation and verification for Quality/Quantity analysis Q/Q.
11. Upon successful Q/Q analysis conducted by the Buyer’s inspectors, Buyer shall pay for the total cost of the product, agency, facilitators’ fees and cost of hiring of the vessel.
12. Seller now re-assigns all cargo documents in Buyers name and hand over all relevant documents to Buyer.
13. Finally, vessel sails to the Buyer’s discharge port.
 
 
 
BLCO CIF DISCOUNT CIF delivery.... to Europe port $11/7 China port $9/6GROSS , US port $10/6GROSS
 
CIF LIFTING PROCEDURE
I. Buyer and Seller sign and seal this Contract including banking
coordinates and exchange the signed copy by electronic mail. The
electronic signed copy by both Parties is considered legally binding and
enforceable.
 
II. Buyer’s bank sends Proof of Funds (POF) on bank-to-bank swift MT799/SBLC/BG/MT760 to seller bank Confirmation of buyer’s blocked funds for the actual transaction revolving to the expire
day of the contract.
 
III. Seller, ie NNPC, upon the financier bank
confirm to him the block fund under 72hours seller bank post 2%Pb to
buyer bank and within (14) banking days issues the confirmable POP and
PROVISIONAL LIFTING RIGHT and NOMINATED VESSEL details in Buyer’s name for one way voyage charter or full charter to Buyer’s port of
dis-charge.
 
IV. Within sixteen (16) banking days of III above, Seller
furnishes Buyer with CPA & Q88 and the following documents are
provided to Buyer and/or Buyer’s bank:
*1 Clean – on – Board Ocean Bill of Lading
*2 Certificate of Quantity (SGS or equivalent)
*3 Certificate of Analyses (optional)
*4 Certificate of Origin
*5 Certificate of Quality
*6 Seller’s Commercial Invoice
*7 Vessel Ullage Report {optional}
*8 Receipt of Samples (optional)
*9 Cargo Manifest
V. After the vessel has discharged its cargo at Buyer’s designated port
outlined above and Buyer has received the Port Discharge Q & Q
Report from SGS Inspectors, including all relevant documents presented
by the Seller after the time of cargo delivery as required by the LC,
Buyer must make payment by SWIFT Wire Transfer to Seller’s Bank Account for this transaction and to all Payees named herein.
 
VI. Payments are made by Swift Wire Transfer directly to the Seller’s bank accounts and all parties as stipulated in this agreement within three (3) international banking days after product delivery and discharge at
Buyer’s nominated port of discharge against presentation of stated
shipping documents (non-negotiable copies) at Buyer’s Bank.
 
VII. the signatures on this contract by the Buyer and by Seller mean both parties accept all the contents as for Quantity, Price and Procedures.
 


                      
BLCO PROCEDURE FOR TT0 NGN85-5, $10 LESS $6
 
1.    Seller shall issue Sales & Purchase Agreement with Seller's Full Banking Co-ordinates
 
2.    The Buyer and the Seller sign and seal contract and the electronic copy signed and exchanged are considered original and acceptable. 
 
3. Buyer issues an MT799 or a Managers cheque of fifteen million[N15, 000, 000] to seller s bank for naval clearance and logistics..
 
4.    Seller instructs his Captain to issue a Marine Authority to Board (ATB) and Clearance for Buyer’s Inspectors and Supercargo.
 
5.    Buyer’s inspectors conduct Q and Q in Nigeria/International Waters and sends report to Buyer. 
 
6.    Buyers issues MT103/23 to pay for the loaded cargo.
 
7.    Seller links Buyer to the owner of vessel for successful take over. After successful take over, Seller releases to buyer, copies of the full particulars of cargo documents re-assigned in Buyer’s name
 
8.    Seller confirms payment and releases the original documents to the Buyer/Buyer’s Captain.
 
9.    Vessel sails to Buyer’s destination port.
 
 
SPECIAL BLCO TTT PROCEDURE NGN79-5, $10 LESS $6
1.    BUYER AND SELLER SIGNS CONTRACT DOCUMENT AND DEPOSIT SAME IN THEIR RESPECTIVE BANKS WHICH BINDS BOTH PARTIES AS FAR AS THIS TRANSACTION IS CONCERNED,
 
2.    BUYER RETURNED SIGNED SPA WITH HIS NOR/ATB FORMAT AND VALID VESSEL DETAIL. WHICH MUST INCLUDE VALID VESSEL Q88, ATL ADDRESSED TO SELLER, CPA, INVOICE OF VESSEL SHOWING PROOF OF CHARTER.
 
3.    SELLER CONFIRMS VESSEL DETAILS AND ISSUE NOR TO VESSEL FROM SHELL PETROLEUM DEVELOPMENT COMPANY OR NNPC VESSEL.
 
4.    UPON CONFIRMATION  OF MARINE NOR FROM SHELL/CHEVRON VESSEL TO BUYERS VESSEL, BUYER RAISED A BANK GUARANTEE IN FAVOUR OF THE SELLER.
 
5.    SHELL VESSEL TRANS-SHIP THE PRODUCT UPON RECEIPT AND CONFIRMATION OF INSTRUMENT FROM BUYER S BANK.
 
6.    AFTER SUCCESSFUL  TRANSHIPMENT AND Q&Q , BUYER MAKES PAYMENT FOR THE CARGO VIA MT 103 AND SWIFT ALL OTHER PAYMENTS TO AGENTS AND FACILITATORS.
 
7.    SELLER AND OTHER FACILITATORS VERIFY PAYMENT AND VESSEL SAILS TO BUYERS PORT OF DISCHARGE.
 
 
AGO TTT MATB PROCEDURE 121 (118/3)

 NEW PROCEDURE

The Buyer and the Seller sign the contract agreement listing terms and conditions of transaction and indicating buyer and seller banking coordinates.

Buyer returns signed SPA with ATB Format

SELLER'S ACCOUNT OFFICER WILL EMAIL THE POP TO BUYER'S BANK REQUESTING FOR A RWA OR BCL.

BUYER'S BANK WILL RESPOND OFFICIALLY STATING THAT THE BUYER IS READY, WILLING AND ABLE TO PAY FOR THE CARGO AND ISSUE BCL TO THE SELLER'S BANK.

SELLER GIVE MATB AND BOARD THE BUYER'S SUPERCARGO/INSPECTOR, UPON CONFIRMATION of product buyer releases his valid vessel details including ATL to seller.

Buyer place FULL BG and Transhipment is done at the cost of the buyer who provides authorized hose and fenders for operations.

Seller releases cargo document {DC&MR} and Q&Q report to Buyer for   payments by MT 103 or Wire transfer within 24hrs.
Vessel is allowed to sail to its destination.

OLD PROCEDURE


1. Seller issues signed SPA to Buyer to sign and return. Electronic signed copies are legally binding and accepted between parties.
 
2. Buyer raise a managers cheque /Bank draft of N10, 000, 000 in favor of the seller and release his ATB FORMAT and Inspectors Id.
 
3. Seller Authorize the captain of the Loaded Vessel to release marine ATB to seller supercargo and inspector for Q&Q Analysis.
 
4. Seller cash the N10, 000, 000 manager’s cheque/bank draft upon confirmation of product by the buyers supercargo and is part of the payment for the product.
 
5. Seller give N10, 000, 000 open Corporate cheque to buyer as guarantee for buyer’s N10, 000, 000 manager’s cheque cashable if seller cannot issue ATB within 72hrs or if there is no product on board the vessel.
 
6. Upon confirmation of product buyer releases his valid vessel details including ATL to seller.
 
7. Buyer place FULL BG and Transshipment is done at the cost of the buyer who provides authorized hose and fenders for operations.
 
8. Seller releases cargo document {DC&MR} and Q&Q report to Buyer for   payments by MT 103 or Wire transfer within 24hrs.
 
9. Vessel is allowed to sail to its destination.
Buyer forfeits his ten Million naira if he fails to make payment after confirmation of product by his supercargo within 48 hrs
 
 
AGO TTO MATB PROCEDURE 122 (119+3)
1. Seller issues signed SPA to Buyer to sign and return. Electronic signed copies are legally binding and accepted between parties.
 
2. Buyer raise a managers cheque /Bank draft of N10, 000 000 in favour of the seller and release his ATB FORMAT and Inspectors Id. Seller gives buyer an open corporate cheque of N10, 000, 000  of well-funded account as guarantee if there is no product in the vessel when buyer’s inspectors board cashable immediately if there is no product.
 
3. Seller Authorize the captain of the Loaded Vessel to release marine ATB to seller supercargo and inspector for Q&Q Analysis.
 
4. Seller cash the 10, 000 000 managers cheque/bank draft upon confirmation of product by the buyers supercargo and is part of the payment for the product.
 
5. Seller releases cargo document {DC&MR} and Q&Q report to Buyer for  payments by MT 103 or Wire transfer within 24hrs.
 
6. Buyer forfeits his ten Million naira if he fails to make payment after confirmation of product by his supercargo within 48 hrs.
 
7. Buyer re charter vessel from owners
 
 
TANK FARM DELIVERY PROCEDURE: NON NEGOTIABLE. LAGOS 129, PH 131, CALABA 131
 
1. .Buyer and Seller sign Contract (SPA) and return with valid tank farm invoice details, NOR format, phone numbers of the paymaster, seller and buyer deposit with their respective Banks.
2..Buyer give seller BG covering the whole cargo or Buyer’s through his bank or in person issue a DRAFT/MANAGER’S CHEQUE of Five million Naira and IBPU to seller’s and bring it to seller’s bank and seller give buyer an open cheque of N5m of a well-funded Corporate  account cashable if seller fail to give NOR after 72hrs. This DRAFT/MANAGER’S CHEQUE must be presented on or before 12noon.
3.    Seller’s Vessel load and issue NOR and ETA to Buyer’s Storage. Buyer’s/ Storage acknowledges and responds to the NOR and Seller cash the N5m draft.  If buyer fail to perform after receiving NOR within 72hrs, buyer will forfeit the N5million but will be deducted from total sum if buyer raises BG/IBPU within the time limit of 72hrs, therefore buyers are advised to notify and instruct their banks to start the preparation of the BG on time.
4.    Buyer’s Bank issues  FULL BANK GUARANTEE within [72} hours of issuance NOR and ETA to buyer’s Storage Assuring Seller that BUYER’S BANK will pay for the Product after  delivery to Buyer’s Storage.
5.    THE BG/IBPU MUST BE WITH A RED LINE OF 100, 000, 000 NAIRA RED LINE OF WITHDRAWAL FOR CLEARANCE OF VESSEL TO BERTH AT THE TANK FARM
6.    Seller’s Vessel sails to Buyer’s Storage Jetty after seller receives FULL BANK GUARANTEE, Seller’s Vessel Captain issues MATB for Buyer’s Supercargo and Inspectors to board Vessel and conduct Q&Q Inspection Tests on the cargo.
7.    Buyer’s Supercargo and Inspectors conduct Q&Q Inspection Tests at Buyer’s Costs, and issue Q&Q Tests Results to Buyer and Seller.
8.    Seller regulates and transfers all relevant Cargo Documents to Buyer.
9.    Within Twenty-Four (24) Hours of Q&Q, Payment for the delivered Cargo is effected as the Bank Guarantee/IBPU is cashed.
10.    Seller’s Vessel discharges to Buyer’s Storage.
11.    Next Shipment is scheduled until total volume is delivered.
IMPORTANT NOTICE: WE DO NOT GIVE POP IN ANY FORM UPFRONT SO DO NOT REQUEST FOR IT OR SIGN THIS CONTRACT IF YOU CANNOT FOLLOW OUR SIMPLE PROCEDURE.
 
 
Note: buyers side is completely open..


Contact:uzo okpala
+2348158625056
+2348062072253
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