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BLCO sale offer

  • Nigeria Nigeria  
  • Last Updated:
    Posted on: 08 Mar 2024

  • Buying Frequency: Weekly
  • Payment Terms: T/T, L/C, Other
Buyer Information

RFQ Details

TRANSACTION PROCEDURE ON BLCO (TTO)
1. Seller issues contract and a Letter of Indemnity to buyer by means of electronic email. Buyer signs the contract and indemnity (the indemnity must be Notarized by any court in Nigeria),and sends the signed contract and indemnity to seller via electronic email for countersigning and attaches the following: ATB FORMAT, INSPECTORS DETAIL AND SCANNED PASSPORTS [provide with the proper legal identifications of the inspectors and supercargo that will board the vessel for seller to prepare ATB passes].The electronic signed document is considered legally enforceable by both parties and is to be deposited in their respective banks.
2. Buyer must provide ATB Format, Supercargo and Inspectors scanned passports for product Confirmation and calibration in Nigeria waters with evidence of payment to Inspection Company. Sellers Bank confirms signed SPA and soft copy of bank draft of N5M ONLY cashable upon confirmations of product & received of attestation....NOTE: BUYER REPRESENTATIVE MUST BE ON GROUND WITH SELLER REPRESENTATIVE  IN PORT HARCOURT WITH THE HARD COPY OF THE BANK DRAFT, BEFORE RELEASING OF MATB & CLEARANCE,HARD  COPY MUST BE RELEASED  TO THE SELLER  AT BOARDING  POINT  BEFORE BOARDING.
3. Seller confirms and authorizes Vessel Captain to issue Marine ATB & CLEARANCE to         Buyers Supercargo.
4. UPON CONFIRMATION OF PRODUCT & RECEIVED OF ATTESTATION BANK DRAFT TURN CASH, AND BUYER PLACE INSTRUMENT (BLOCK FUND FOR TOTAL CARGO).
5. CARGO MOVE TO GHANA WATER FOR Q/Q. UPON SUCCESSFUL Q/Q   IN GHANA WATER BY BUYER INSPECTION COMPANY, (INSTRUMENT TURN TO CASH) AND Seller connects Buyer to Vessel owner for re-charter of Vessel and places charter on the vessel.
6. Seller releases full cargo documents including Title of Warranty.


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