VI.      TTO DELIVERY PROCEDURES: (STRICTLY BANK-TO-BANK TRANSACTION)
 
1.       Buyer and seller execute and seal this agreement, and exchange a facsimile (EDT) copy by fax or electronic mail. The electronically transmitted copy, signed by both parties in Counterparts, shall be considered legally binding and enforceable. These signed electronic copies shall be lodged with their respective banks. 
 
2.      Buyer sign and return contract with ATB format and NNPC approved S/cargo and inspector details Or Inspection agency.
 
3.      Buyer’s bank writes or send mail to seller’s bank requesting for 2% Performance Bond and seller’s bank responds by issuing 2% Performance Bond to the buyer’s bank.
 
4.      Upon buyer’s bank verification and confirmation of the 2%PB, his bank place instrument for the total cargo via MT760 / MT799 (Blocked Fund) in favor of seller.
 
5.      Upon confirmation of instrument, seller issue MATB and CLEARANCE and board buyer’s super cargo Or Inspection agency and move vessel to Ghana waters for Q&Q.
 
6.      Attestation originates from the captain’s desk to the buyer, buyer’s super cargo and Inspector on board the pregnant vessel and confirmatory note from the vessel Captain. Upon successful Q&Q, buyer place BG/MT-103 or effects payment for the entire cargo.
 
7.      Seller effect the transfer of all documents in Buyer's name and introduces Buyer to vessel handlers for re-charter. So also, payment is effected for entire cargo and intermediaries via MT103/TT, simultaneously.
 
8.      Upon confirmation of payment by seller and intermediaries, vessel is allowed to sail to her Port of Discharge.
 
9.       DOCUMENTS:     Full set of original clean onboard Bill of Lading plus three non - negotiable original copies of invoice issued in favor of Buyer.
 
10.    PAYMENT SCHEDULE: Bonny Light Crude as per Q&Q report will be paid in full by wire transfer via the Assignment of Proceeds within 24-48 hours after chattering of the pregnant vessel.
 
11.    BANK CHARGES: Seller's bank cost for the seller's account. Buyer's bank cost for the Buyer's account.
 
12.    INSPECTION: inspection cost on board the pregnant Tanker at the port of loading is at the expense of Buyer. Inspection cost at port of discharge is at Buyer's expense.