27/10/2022
PROCEDURE: PUMPANDPAY
1)Seller/Buyer.Sign.Seal.the.Contract.and.Exchange.the.Signed.Copy.by.Electronic.Mail.The.Electronic.Signed.Copy.By.Both.Parties.is.Considered.Legally Binding.And.Enforceable.
2) Buyer provides vessel full details with SSB and Vessel Captain on Board GSM number on SMS for comfirmation of readiness of Vessel before forwarding Cargo details,Q88 & ALT for STS (call/load) for payment per out-turn discharge and/or boarding buyer Boarding Seller's Super Cargo in his empty vessel to confirm buyer's control of his receiving vessel before loading.
3) Seller confirms buyer’s vessel information and open communication with buyer Vessel and move to belt at agreed STS and buyer’s captain on board confirm and report of both belting together to the buyer.
4) Upon both vessels belt up at STS buyer's Super cargo crosses over to confirm cargo and pouring of about 200 tons,buyer releases 50% payment to Seller's account for part payment and full pumping of cargo into buyer’s vessel.
(5) Seller confirms payment and ask his captain to pump cargo into Buyers Vessel and full Q and Q report and attestation duly signed by both Captains on board and release to both parties (Seller and Buyer).
6) Upon release of attestation buyer releases balance payment of 50% in favour of seller account and facilitators account as enshrined in the MOU.
7) Upon full payment of Cargo Seller releases DC and MR documents to buyer.
8) Transaction closed