Nominations, Banking And Shipment Procedure For BLCO At Temmark Marine - Business To Business

NOMINATIONS, SHIPMENT & BANKING PROCEDURES

1. Seller(s) sends a
Draft Contract which shall be opened for signing by the
end buyer and immediate return of the contract within 48 hours to seller
with any amendment(s). 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 places a
Confirmed, irrevocable transferable pre advice Standby Letter of Credit
(SBLC) by SWIFT to Seller Fiduciary nominated account in favor of Seller
for the full amount of the cargo within 5 working days.

3. Seller Fiduciary will activate the Pre advise SBLC with 2% PB
within 5 working days. Seller programmed the vessel in Shell-screen in the
name of both the Buyer and Seller names with Laycan Date and release the
PIN code to Buyer and Buyer shall confirm from NNPC London and Shell
Screen. A Loading Letter will be issued by NNPC to buyer to confirm the
date of their loading and shipment to buyers destination Port.

4. Seller notifies Buyer within (24 hours) after complete loading of vessel from the NNPC Terminal. Seller sent electronic the following
documents to buyer as Proof of product:

a.) Bill of Lading
b.) Certificate of Quantity and Quality from NNPC.
c.) Master’s receipt for samples
d.) Cargo Manifest
e.) Tanker Ullage Report
f.) Tanker Time Sheet
h.) Q88 of Chartered Vessel

6. Cargo sails to buyer port of discharge the product for Q & Q. 7. Upon
Vessel arrival Seller’s Captain shall issue Marine Authority To Board, DIP
TEST ALLOWANCE (ATB and DTA) to the Buyer on the loaded vessel for Buyer’s
confirmation of product.

8. Buyer facilitates the boarding of the Buyer’s nominated Inspection
Agent for Q & Q analysis at the Buyer’s cost. Buyer makes all necessary
arrangements with SGS Inspection Company OR equivalent 3rd party
inspection agency including Buyers inspection fee payment.

9. Upon confirmation of SGS or equivalent 3rd party inspection agency
Q & Q analysis and issuing of Q & Q report to both buyer and seller,
Seller issues Final Invoice to Buyer and seller have over original cargo
documents under clause 12 to buyer. Buyer Bank shall issue an MT 103 for
payment of the Final Invoice to Seller’s Bank in favour of Seller within
48 hours after receiving successful Q & Q report at port of discharging.

SHIPPING Documents
Documents to be provided by the seller to the buyer, who signs or sends
mail to acknowledge receipt of them, are as follows, among others; a.
Original and 3-Copies of Purchase Contract
b. Original and 3-Copies of Commercial Invoice
c. Original and 3-Copies of Bill of Lading
d. Original and 3-Copies of SGS Q & O Certificate on board – Article
e) Original and 3-Copies of Certificate of Origin
f) Original and 3-Copies of Master’s Receipt of Samples
g) Original and 3-Copies of Ullage Report
h) Original and 3-Copies of Cargo Manifest
STANDBY LETTER OF CREDIT- 2% PB.doc STANDBY LETTER OF CREDIT- 2% P