100,000MT AGO TTO ON LOME WATERS FREE BOARDING
PROCEDURE TTO AGO
Buyer & seller sign & seal this contract including banking coordinates & exchange the signed copies by electronic mail. The electronic signed copies by both parties are considered legally enforceable and cannot be changed.
Seller instructs Captain to issue MATB to buyer's agents and inspector to board in Lome waters TOGO to execute the Q&Q TEST.
. Buyer boards his team at his cost for clearance and tugboat, to conduct Q&Q control and sample taking.
• While supercargo remains on board and inspector disembarks with the sample, the buyer pays the logistics fees of USD 350,000 deductible from the Final payment by Swift Bank Transfer.
• Upon receipt of the Q&Q report, Buyer pays for the complete cargo value less the value paid for logistics, by Swift Bank Transfer.
• All commissions are paid to beneficiaries against their invoice issued by their Companies.
• Documents are re-assigned to Buyer’s name,
• Vessel is re-chartered by buyer at his cost and vessel sails to final Buyer’s destination.
Documents to be provided to Buyer against payment:
7.1.1 Seller’s Commercial Invoice,
7.1.2 Clean Ocean Bill of Lading, Three (3) Original and three (3) copies;
7.1.3 Certificate of Quality,
7.1.4 Certificate of Quantity,
7.1.5 Certificate of Origin,
7.1.7 Master’s Receipt of Samples,
7.1.8 Cleanliness Report,
7.1.9 Ullage Report,
7.1.10 Third party documentations and any other documentation relevant to the transaction are acceptable.
There are no Penalty Clause to this transaction. It is believed that the procedure balanced and thatboth the Seller and Buyer are taking equal level of risk.
Payment shall be made in United States Dollars via swift telegraphic transfer upon completion of
loading and presentation of the required documents.
Should the due date of payment fall on Saturday or a bank holiday in New York other than on a Monday, then payment shall be effected on the immediately proceeding business day; should the due date fall on a Sunday or a Monday bank holiday in New York, payment shall be effected on the next bank succeeding day, all opening bank charges shall be account of Buyer.
10. FREIGHT: Freight charges for Buyer to the account of Buyer upon Takeover of the vessel.
11. BANK CHARGES: Seller’s bank charges will accrue to Seller’s bank account while Buyer’s
bank charges will accrue to Buyer’s bank account.
Fax, electronic or digitally transmitted documents in respect of the transaction are deemed
original copies, including signatories and certificates of discharge. Original shipping documents
as stated above shall be issued at the final discharge and after the entire product is delivered on
board Buyer’s vessel.
14. TITLE AND RISK:
Title to, risk of loss damage to the product shall pass from the Seller to Buyer upon takeover of the vessel and cargo.
Sellers warrant that the product supplied hereunder shall conform to the description stated herein; that seller will convey good title thereto; that such product shall be delivered free from any lawful security interest, lien, or encumbrances.
This agreement shall be binding on both parries, their agents, brokers, legal representatives, successors and assign in accordance with prevailing laws.
17. LAW AND LEGAL JURDICTION / ARBITRATION:
The construction, validity and performance of this contract shall be in accordance with the laws of England. Should any dispute arise hereunder, the matter in dispute shall be referred to a panel of three arbitrators, one to be appointed by each of the parties hereto and third by the so chosen.
Arbitrators shall take place in London under ICC rules. The decision of the arbitrators, or of a majority of them in the event of a split decision, shall be final and biding on both parties without resources to appeal.
18. NON-CIRCUMVENTION, NON-DISCLOSURE
Both parties, their representatives, negotiators, brokers, intermediaries or banker’s group shall not circumvent, disclose or contract/contact for this transaction or any subsequent one, persons or organized parties involved or introduced by the party in manner whatsoever and shall not deny the agent/beneficiaries of any benefit entitlements unless with a written consent from the other party, otherwise the other party is entitled to claim from the defaulting party an amount
- Company Name: DOUBLE STONE AND ASSOCIATES
- Country: THE NETHERLANDS