Description
PROCEDURE
PRICE $ *2/8
1. Buyer and seller sign contract (Buyer return the signed
contract to the Seller with his ATB Format, Super Cargo and
Inspectors information.
2. Buyer issues BCL / RWA to Seller's bank..
3. Seller nominates vessel and load and issue MATB and
Loading documents to Buyer as POP.
4. Upon the receipt of MATB and Loading vessel documents,
Buyer authorizes his bank to issue financial instrument of SBLC or
MT **0 to Seller's bank.
5. Upon acknowledgement by Seller's Bank of Buyer's financial
instrument, Seller authorizes the Captain of his vessel to set sail
to Ghana waters.
6. Upon arrival at *0 to *2 Nautical miles in Ghana waters,
loaded vessel Captain announces his presence to the Harbor Master
in Tema, Ghana. The Captain then issues MATB and Clearance to the
Buyer's Super Cargo and the Inspector for Q & Q inspection.
7. The Inspectors and Super Cargo then board the vessel for Q
& Q inspection.
8. Upon the completion of Q & Q inspection, the Buyer
receives copies of the Q & Q analysis report and provides a
copy to the Seller. Buyer bank issues an acceptable financial
instrument such as BG / SBLC /LC to cover the total cost of the
cargo or product on board the vessel.
9. Seller then introduces the Seller to NNPC Ship Handler to
re-charter the vessel on a one way voyage to Buyer's port of
discharge (BPD). (It is important to note here, that NNPC loaded
vessels are on a long time charter by NNPC. Buyers can only
re-charter them on a one way voyage to Buyer destination from NNPC
Ship Handler in Nigeria).
*0. Seller prepares all the shipping documents in the Buyer's name
and hands over the papers after full payment is made to both Seller
and all commission agents through MT **3 and KTT (Bank Key Tested
Telex).
