I have your SPA with me, I want too know if you can work with any of these procedures so I can have these buyers sign
Procedure
Thank you for your email.
There can be no contact with our bank until w can confirm that vessels are loaded and available.
Please No Long Chain of agents, facilitators, consultants, etc.
Real Sellers, Mandate or Next to Seller Only
Are these vessels Loaded? Because of all the fake sellers out there the Buyer has a set of Procedures that we work with. before they sign a SPA they need to see if the Vessel is where you say it is, can you Please send the Vessels Details to confirm?
NEW Procedure: Please see if sellers can work with these procedures.
1. Seller and Buyer sign and seal Sales and Purchase
Agreement (SPA) electronically. Both Parties lodge
hard copies of the documents in their respective
banks.
2. Seller/Seller’s Bank shall issue to Buyer/Buyer’s
Bank verifiable copies of SGS Q&Q Inspection
report or equivalent, and Vessel’s CPA in the name
of the Seller.
3. Seller issues to Buyer/Buyer’s Inspectors a
reassigned MARINE ATB from Vessel Captain.
UPON THE RECEIPT OF THE REASSIGNED MARINE
ATB IN FAVOR OF THE BUYER/BUYER’S
INSPECTORS AND CONSEQUENT VERIFICATION /
CONFIRMATION.
4. Buyer’s Inspectors board Seller’s vessel for Q & Q
assessment. Quality and Quantity test is confirmed.
5. BUYER bank shall within seven (7)-ten (10)
business days issue via swift an operative, Non divisible,
NON-transferable Documentary Letter of
Credit (DLC) in favor of the Seller to Seller’s bank.
6. Buyer confirms Re-Charter of Vessel. The details of
the vessel owner shall be as in the CPA and Q88
provided by Seller.
7. After inspection, Payment instruments for both the
cargo and the vessels are placed separately - the
DLC for the Cargo to the Seller and the DLC for the
vessel charter to the vessel owner.
8. Documentation in Buyer’s name is done and
payment effected on the basis of Q&Q inspection
report.
9. Vessel sails to destination (Vessel will not be
allowed to sail until Bank confirms payment).