Emsonex - Wa - Flco - 2MBBLS - NMD - Ayo FF
Emsonex - Wa - Flco - 2MBBLS - NMD - Ayo FF
Emsonex - Wa - Flco - 2MBBLS - NMD - Ayo FF
2.1. DETERMINATION OF QUALITY AND QUANTITY): Quality and Quantity shall be determined by an independent inspection company such as SGS or Saybolt, appointed by the buyer in accordance with normal Port practices. Quantity shall be determined by CONFIRMED barrels from the carrier after adjustment for temperature corrections to 60 degree Fahrenheit, utilizing applicable volume correction tables by the independent inspectors acceptable to both buyer and seller. 3.0 QUALITY AND SPECIFICATION: 3.1 The quality of the product to be supplied under this agreement shall be standard NNPC export specification for Forcados Light. QUALITY AND GRADE. The quality of this product shall be regular NNPC standard and export grades of Forcados Light Specific Gravity @ 15c API BSW (by configuration) Pour point Reid vapor pressure Sulphur content wt% Salt ib 10000 bb Carbon residue wt% Water vol 0.8398 350-370 max 0.65% max below 40% psi 6.25%PSIGN 0.149 12 approx 1.0 approx 0.2% vol
3.2 The verification as to quality and quantity shall be arranged by Seller at the loading port at Sellers expense, and Buyer shall be responsible for the same such arrangement and expenses at the discharge point. Normal industry practices will be utilized as to de-escalation of price when applicable, as to quality and quantity
2 BUYERS SELLERS INITIALS
15.0 - ASSIGNMENT
Neither Party shall assign any of its rights and obligations under the Agreement, in whole or in part, without the prior written consent of the other Party.
TTO-Procedures 1. Seller And Buyer Sign And Seal Sales/Purchase Agreement With Their Full Banking Details Including Their Brokers Banking Details Both Parties Forward A Copy Of This Signed SPA Contract To Their Respective Banks. 2. Buyer also returns the Signed SPA Contract with the Pass-Port Photo graphs of the Inspectors and Super Cargo Men together with their Mobile phone numbers FOR ATB ISSUANCE. 3. Seller issues Clearance and ATB for Boarding of Buyers Supercargo/Inspectors. Buyers Inspectors contact Sellers Captain of Loaded Vessel VIA email for confirmation to go on board for Q and Q. 4. Buyer Inspectors and Super cargo board the loaded vessel for Q&Q. 5. Buyer pays N50m for all clearance and documentation. 6. The Seller introduces Buyer to the Vessel Owners/Commercial Operators/Handlers and/or Agents to formalize the Charter to Buyers destination Port and hands over all the cargo documents to the buyer [Copies], while his bankers send the Original by Courier to the Buyers banker that raised the MT103/ Letter Of Credit or Bank Guarantee. 5. Subject to the outcome of the Q & Q Analysis Report, Buyers Bank makes full payment for entire cargo. 6. The Letter of Credit or Bank Guarantee crystallizes for full and final payment for Cargo and Commission by KTT Wire Transfer.
7 BUYERS SELLERS INITIALS
SWIFT CODE: ABA NO: BENEFICIARY BANK NAME AND ADDRESS: INTERCONTINENTAL BANK PLC SWIFT CODE: ICOBNGLA ACCOUNT NUMBER: 36023765 Further Credit Party: EMSONEX WEST AFRICA LIMITED ACCOUNT NUMBER: 0221001000014968 ACCOUNT OFFICER: TONY AMAH EMAIL: amaliechi.anthony@intercontinentalbankplc.com SELLERS AGENT BANKING CO-ORDINATES $1.50 BANK NAME: BANK ADDRESS: ACCOUNT NUMBER: SAME AS SELLER BANK 8 BUYERS SELLERS INITIALS
BUYERS BANKING CO-ORDINATES BANK NAME: BANK ADDRESS: ACCOUNT NUMBER: SWIFT CODE: ACCOUNT NAME: ACCOUNT MANAGER: PHONE:
BUYERS AGENT BANKING CO ORDINATES $1.00K BANK NAME: ADDRESS OF BANK: ACCOUNT NO: SWIFT CODE: ACCOUNT NO: FURTHER CREDIT TO: ACCOUNT NO: ACCOUNT OFFICER: TELEFAX: 9 BUYERS SELLERS INITIALS
BUYERS FACILITATOR B. BANKING DETAILS FOR $0.30 PER BBL CORRESPONDENT BANK SWIFT CODE ABA NO ACCOUNT NUMBER FOR CREDIT OF BANK ADDRESS SWIFT CODE FOR FINAL CREDIT OF BENEFICIARY ACCOUNT NUMBER (NAIRA) ACCOUNT NUMBER (DOMICILIARY) ACCOUNT OFFICER: DEUTSHE BANK TRUST COMPANY, AMERICA BKTRUS33 021000089 04-430-446 UBA PLC, LAGOS IJAYE ROAD, OGBA, IKEJA NIGERIA UNAFNGLA JAMIN OLORUNFEMI ESHIOMHONU 05420020000753 05420521000133 HENRY ELUMELU (08037261371)
BUYERS FACILITATOR GROUP B BANKING DETAIL FOR $0.30 CENTS PER BBL [IN MOU WITH 5 GROUPS]. BANK: ADDRESS: SWIFT CODE: ROUTING/ABA NO ECOBANK NIGERIA PLC
ANAJA O.
PREADVICE MUST BE SENT VIA SWIFT PRIOR TO WIRE TRANSFER & EMAIL: a notification immediately upon each tranche transfer payment together with the transactions code/s to:
ay_moh2003@yahoo.co.uk
Text Message: The S.W.I.F.T. or Clear Stream text message covering all remittances shall clearly state the following: "CLEAN, CLEARED, LIEN
FREE AND UNENCUMBERED FUNDS, EARNED FROM FINANCIAL CONSULTING FEES ON COMMERCIAL ENTERPRISES OF NON-CRIMINAL AND NON-TERRORIST ORIGINS, FOR SAME DAY SETTLEMENT.
Signed By: CHIEF CHUDY Title: CEO Dated: SEPT 13TH, 2011