AFTER BUYER LOI
1. Seller and Buyer sign and seal Sales and Purchase Agreement (SPA). Both Parties lodge documents in respective banks. 2. Buyer provides Seller with details of his Inspectors and Supercargo; 3. Seller clears Buyer’s supercargo man and takes him on-board loaded vessel. 4. Upon boarding, Seller instructs Vessel Captain to issue Authority to Board (ATB) Seller’s loaded vessel to Buyer’s nominated Inspectors. 5. Authority to board (ATB) is released to Buyer’s nominated Inspectors to board Seller’s vessel for Q & Q. Quality and Quantity test is confirmed. 6. Buyer raises LC/BG for cargo based on Q & Q report. 7. Buyer supercargo man remains onboard the vessel while Seller opens communication between Buyer and vessel management for re-chartering of the vessel. 8. Vessel re-chartering formalities is concluded. 9. Buyer swift payment for cargo and commission to seller and agents based on the out-turned barrels as per Q&Q report. 10. Vessel sails.
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