We are direct seller using a very simple procedure with a full transparency for the buyer:
2 Mio Barrel / Month ( 12 Months contract )
TTO GHANA WATERS:
Seller and Buyer sign and seal the Contract ( including indemnity Clause ) and including their banking co-ordinates and exchange the signed copy by electronic mail. The electronically signed copy by both Parties shall be considered legitimate and legally binding and enforceable on both Parties. Both parties shall deposit copies of the Contract with their respective banks. The SPA shall include an indemnity.
Buyer issues POF.
Buyer issues NOR/ETA and ATB details, Super Cargo/Inspection Details Maximum two person/s {International Passport, Passport Photograph/Identification Cards etc}
Seller instructs the loaded Vessel Captain to proceed to the Buyers Location in Ghana Waters (10 â?? 12 Nautical Miles) for Q&Q as Buyer's representative and Sellerâ??s representative must be in Ghana physically to confirm the vessel/product and Buyerâ??s Project Management team shall acknowledge the NOR/ETA explicitly indicating readiness to receive product on behalf of Buyer with copy to Seller. Expenses of buyer's representative for the buyer's account and expenses of seller's representative for the seller's account.
The Captain of the laden vessel shall call the Harbor Master and introduce himself as carrying a product {BLCO} meant for this buyer's Company. The harbor Master/the Captain will agree based on safety reason/s on the location for Q&Q (in this case 10-12 nautical miles offshore Tema) and the approved security outfit in Ghana moves in to guard and protect the Vessel.
Upon confirmation of loaded Vessel NOR etc. Buyer will proceed to do Q & Q on board. Authorization to Board [ATB] will be issued to Buyers nominated Surveyors to conduct the dip test/shore tank calibration and the Report shall be given to both Buyer and Seller respectively. Buyers Inspection Team will board at the Buyers expense.
After succesful Q & Q Buyer raises SBLC for entire cargo value. $500,000 for logistics and documentation will be part of the payment. Seller introduces buyer to vessel handlers for a re-charter. Title is transferred and final payment is made via KTT Wire transfer or MT103. Pay is simultaneously made to agents and intermediaries.
Buyer takes over vessel and vessel sails to port of discharge / destination.
Transaction revolves for 12 Calendar months with provision for rolls and extension.
NB: IF THE CRUDE OIL DELIVERED UNDER THIS CONTRACT IS FOUND TO BE A DIFFERENT CRUDE OIL GRADE OTHER THAN BLCO, THE BUYER RESERVES THE RIGHT TO REJECT THE CARGO.
