![]() TANK TO TANK / TANK TO VESSEL *(TTT/TTV)*ġ. *SELLER'S FOB ROTTERDAM DIP & PAY TRANSACTION PROCEDURES:* UPON CONFIRMATION OF FINAL PAYMENT TO ALL PARTIES INCLUSIVE OF COMMISSIONS TO ALL INTERMEDIARIES AS CONTAINS IN THE SIGNED SPA, THE TITLE OF THE CARGO TRANSFERS TO THE BUYER’S NAME AND THE VESSEL IS ALLOWED TO SAIL TO THE BUYER'S PORT OF DISCHARGEb, ( POD) UPON CONFIRMATION OF DOCUMENTS, THE BUYER SHALL IMMEDIATELY RELEASE PAYMENT FOR THE FULL CARGO WITH SELLER’S COMMERCIAL INVOICE ( CI) AND PAY ORDER VIA MT103 OR TT WIRE TRANSFERS.ġ0. THE SELLER INTRODUCES BUYER TO THE VESSEL HANDLER FOR VESSEL RECHARTER & THE SELLER RELEASES ALL ORIGINAL DOCUMENTS TO THE BUYER & THE BUYER’S BANKĩ. UPON CONFIRMATION OF THE Q & Q REPORT BY THE BUYER’S BANK, THE SELLER’S SHALL ISSUE COMMERCIAL INVOICE (CI) TO THE BUYER AND THE BUYER’S BANK SHALL ISSUE MT103ĬOVERING THEĜOST OF THEğULLĜARGO MINUS THE *$1M* FOR LOGISTICS &Ĩ. UPON CONFIRMATION OF THE Q&Q REPORT, THE BUYER’s NOMINATED BANK SHALL PAY *$1M* TO SELLER'S NOMINATED BANK ACCOUNT FOR LOGISTICS AND DOCUMENTATIONS WHICH SHALL BE DEDUCTED FROM THE FINAL PAYMENT.ħ. WITHIN (48-72) HOURS,ğINAL Q AND Q REPORT IS SENT TO BUYER AND THE SELLER THE BUYER’S INSPECTORS ARE BOARDED AT BUYER’S EXPENSE, COLLECT AND COME DOWN WITH SAMPLES, CONDUCT ANALYSIS, WHILE SUPERCARGO REMAINS ON BOARD AND THEN THE MASTER OF THE VESSEL ISSUES A MARINE AUTHORITY TO BOARD (MATB) TO THE BUYER’S NOMINATED INSPECTORS AND SUPERCARGO AND THE INSPECTOR CONDUCTS THE QUALITY AND QUANTITY INSPECTION AT BUYER’S EXPENSE.Ħ. UPON ARRIVAL AT 10-12 NAUTICAL MILES OFF GHANA INTERNATIONAL WATERS, SELLER’S CAPTAIN MAKES RADIO ANNOUNCEMENT TO HARBOUR MASTER, SHIPPING AGENT AND INSPECTION COMPANY IN GHANA AND GIVES A PRINT OUT OF ARRIVAL NOTICE TO THE BUYER WITH THE COMPLETION OF THE GAZETTE.ĥ.ěUYER’S SHIPPING AGENT CLEARS THE VESSEL INWARDS TO 10-12 NAUTICAL MILES AT BUYER’S COST. UPON CONFIRMATION OF THE FUNDS BY THE SELLER’S BANK, AND RELEASE OF THE BANK GUARANTEE BY SELLER BANK, THE VESSEL MASTER GIVES NOTICE OF READINESS (NOR) TO BUYER & GHANA HARBOUR MASTER OF THEĭATE DEPARTURE TO 10-12 NAUTICAL MILES OFF GHANA INTERNATIONAL WATERS AND THE LOADED VESSEL COMMENCE SAILING WITHIN FIVE (5) DAYSĤ. THEěUYER/THEěUYER’SğINANCIERS PAY INTO SELLER NORMINATED ACCOUNT THE SUM OF ONE MILLION DOLLARSĜASH *($1M)* (AS A GUARANTEE FEES) WHILE SELER BANK SHALL ISSUE TO BUYER, BANK GUARANTEE FOR THE $1M UPON CONFIRMATION WITHIN THREE (3) BANKING DAYS.ģ. SELLER'S BANK SHALL ISSUE *BG* AGAINST THE $1M GUARANTEE FEES THAT WILL BE PAID INTO SELLER'S BANK ACCOUNTS.ġ.ěUYER ISSUES ICPO WITH CIS/PASSPORT/COMPANY CERTIFICATE.ĪFTER, SELLER ISSUES SPA, BUYER SIGN & RETURN WITH FOLLOWING DOCUMENTS WITH INSPECTION AGENCY DETAILS INCLUDING COPIES OF INSPECTOR AND SUPERCARGO.Ģ. PROCEDURE/ PAYMENT INSTRUMENT NOMINATIONS, SHIPMENT FOR TTO GHANA WATER.*
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