We deal on BLCO TTO, TTT, CIF and FOB.
Here is one of our best Procedures for TTO:
PROCEDURE FOR TTO. 1. Buyer and
Seller sign and seal this Contract including banking coordinates.
The electronic signed copy by both Parties is considered legally
binding and enforceable and must not be
changed.
2. Buyer signs SPA and returns with his ATB
FORMAT and CORPORATE LETTER OF
PAYMENTUNDERTAKING.
3. Seller issues marine ATB to buyer’s
inspectors
4.Upon
confirmation of the MARINE ATB, the captain opens communication
with Buyer’s Surveyors and supercargos.They go on board in Nigerian
water’s for Inspection (Q and Q analysis ).
5.Upon
Successful completetion of the Inspection (Q and Q analysis) in
Nigerian water’s. Buyer will place irrevocable, MT **3 to Seller’s
account by swift within *8 hours. And place FULL Charter on the
vessel.
6.Seller’s Bank
confirms Payment.7. All documents
are given to Buyer.8. Vessel is
cleared by Seller to sail to
destination
