Petroleum Products (Buyers) Published date: December 7, 2018

ACCEPTABLE PROCEDURE ON TTO
FULL CARGO PAYMENTS WILL BE MADE IN GHANA WATERS AND IN USD.
OFFICIAL PRICE DISCOUNT GIVEN TO BUYER IS $11.00 GROSS.

PROCRDURES ON TTO/SPOT LIFTING BASIS AT TEMA GHANA WATERS ARE AS FOLLOWS:

(1) Seller issues sales purchase contract agreement to buyer. Buyer signs and return to seller. The electronic signed copy by both parties are considered legally binding and enforceable. Both parties deposits same in their respective banks without any change.

(2) Buyer through his bank issue Letter of Undertaken confirming buyer's bank readiness to issue $500,000 ( Five Hundred Thousand united States dollars) instrument for logistics in favour of seller as per seller's verbiage.

(3) Upon seller's receipt/confirmation of buyer's bank Undertaken Letter, Seller instruct his captain to turn on her AIS/TRANSPONDER so that buyer and his agents would track to confirm the availability of pregnant vessel in Ghana waters and issue NOTICE Of READINESS (NOR) to buyer.

(4) Upon buyer's confirmation of the pregnant vessel's existence in Ghana and NOR, within 72 hours buyer issue $500,000( Five Hundred Thousand United States dollars) lrrevocable lnstrument for Logistics to seller which will be cashable within 24 hours upon buyer's supercargo confirmation of cargo onboard and Captain's attestation issued and confirmed by buyer/seller.

(5) Upon confirmation of Instrument, seller instructs his Captain to movr to 10 -12 Nautical Miles (NM) and announce her official Arrival to Tema Port Control Towers/Harbour Master in favour of buyer and stay engaged. Captain issue MATB/CLEARANCE to buyer's lnspector/Supercargo to come onboard to take sample and come down for Q/Q Analysis Report while supercargo confirm Cargo and remain onboard vessel untill the transaction is consummated.

(6) Upon buyer's Supercargo/Captain's Attestation sent and confirmed by both parties, within 24 hours i,e One Banking Day, the $500,000 lnstrument issued for Logistics turns to cash in seller's nomination bank account.

(7) Upon successful Q/Q report sent to both parties by the lndependent lnspection Company(s) Intertek/SGS within 72 hours, buyer's bank make Full Cargo Payment by MT103 Swift Wire Transfer to seller and all acknowledged banking co-ordinates contained in the signed contract/IMFPA paid at the same time less logistics amount.

(8) Seller confirms full cargo payment and releases all transaction documents in buyer's name including Warranty of Title and Certificate of Ownership.

(9) Seller introduce buyer to Vessel owners for re-charter or sends his Vessel to transshipp Cargo from seller's Vessel to buyer's vessel and pregnant Vessel sails to buyer's discharge port.

Call me on 233205375033 for more details. No time wasters please!!!!!

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