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Our Discount is 8/5 and the price is brent price, quantity is 2mbll.
OUR PROCEDURE FOR TTO,
1,Buyer Send Letter of intent.
2. The Seller and the Buyer sign contract and notarized, with banking coordinates of both parties. The electronically signed documents will be accepted as a legal document even when both parties request for the hard
copy.
3. Seller issues Authority to Board the Vessel and Loaded Cargo Documents.
4.Buyer confirms and releases Bank Guarantee (BG) in favor of seller
5.Seller issue Third Party Charter (CPA) and all the relevant cargo documents in buyers name (invoice, bill of lading etc) to buyers bank, buyer shall compute the final commercial invoice of the seller with the inspection report. The shipmaster signs the receipt of the shipping
documents.
6.The buyers bank shall then within (72) hours, release payment by DIRECTLY CREDITING sellers designated Accounts and intermediaries as stated in the SPA (Sales and Purchase Agreement.) base on the buyer final
Q and Q report, by buyers nominated inspection agent.
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