.PROCEDURE: BLCO ONSHORE TANK FARM WITH ESCROW AT $13/5 GROSS DISCOUNT
1. Seller issues Contract for buyer signing, buyer signed SPA and
returned with CIS/CP with passport copy both party lodge contract into
buyers and sellers bank respectively. 2. Buyer and Seller finalize escrow agreement and lodge with a top bank. Buyer deposit ($500,000.00) FIVE HUNDRED THOUSAND US DOLLARS into the
bank. (See step 5). 3. Upon confirmation of Escrow with seller via bank secured emails
from bank domain, seller issue buyer with the following: a. DTA (Dip Test Authority) b. Tank farm facility physical location c. Tank farm manager contact details and authority to meet. 4. Buyer’s inspection team meets with farm manger and complete dip
test to verify commodity. 5. (a) Upon satisfaction of the dip test/CIQ, seller issues invoice
for the full cargo and buyer’s bank issues MT103/TT to seller within 5
days of the completion of CIQ/ dip test. NNPC/ seller proceed to
discharge into the buyer’s nominated st
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