Delivery: TANK FARM
N/B: WITH JUST ₦3M BANK DRAFT, SELLER WILL BOARD BUYER’S SUPERCARGO TO CONFIRM PRODUCT BEFORE BLOCKING FUNDS.
PROCEDURE FOR MATB
1. Seller issues contract, Buyer signs and seals contract (SPA) including banking coordinates and Buyer shall return the said contract within 48hrs. The electronic signed copy by both parties is considered legally binding and enforceable and must not be changed. The executed SPA is lodged in their respective banks.
2. Buyer returns SPA with ATB format, SC and Inspector details (must be NNPC accredited), throughput, and NOR format.
3. Buyer issues a bank draft of ₦3M only, sends a scanned copy to Seller and drops the hardcopy with a bank officer of Seller’s bank branch closest to Buyer’s location with an instruction written on issuing bank letterhead that reads *CASHABLE UPON CONFIRMATION OF PRODUCT AND ATTESTATION.*
4. Seller confirms bank draft, boards Buyer’s SC for confirmation of product. Captain gives attestation and bank draft of ₦3M crystallizes into cash and released to Seller.
5. Seller instructs his vessel captain to send NOR to Buyer’s tank farm. The tank farm manager acknowledges the NOR and states their readiness to receive the cargo.
6. Upon confirmation of NOR, Buyer blocks fund of ₦100M in favour of Seller’s fiduciary account (Seller’s fiduciary verbiage must be followed).
7. Upon confirmation of Buyer’s tank farm acknowledgement and Buyer’s blocked fund, Seller’s loaded vessel set to sail to Buyer’s tank farm in Lagos.
8. Upon arrival at Buyer’s tank farm in Lagos, captain boards Buyer’s inspector who takes sample for Q and Q and blocked fund of ₦100M is released to Seller for logistics.
9. Upon Q and Q report sent to both Seller and Buyer, loaded vessel set for pumping and Buyer pays for the 50% of the cargo, pumping is completed and Buyer pays balance within 24hrs and pays commission to all mandates and facilitators.
10. Seller issues verifiable cargo documents in Buyer’s name.
Next transaction begins……..
NB. ALL LOGISTICS ARE DEDUCTIBLE.
Serious Enquiries only
Tel/Whatsapp : 08037191728