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DR AGO MOU 50KMT DOC 1 1AKIN

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DR AGO MOU 50KMT DOC 1 1AKIN
MEMORANDUM OF UNDERSTANDING

This memorandum of understanding (THE "M.O.U.") is made 6th FEB, 2015, by and between:
ROYAL CHIBEN INVESTMENT LTD REPRESENTING THE SUPPLIERS AND ANTHONY DE MIRACULA GLOBAL WA LIMITED

The SUPPLIER makes an irrevocable and firm commitment to supply and the Buyer also makes an irrevocable and firm commitment to purchase and take delivery of the said product.

COMMODITY: AGO 50KMT
Terms
1.

2. DELIVERY / DESTINATION: The commodity shall be sold on (TTT) basis

3. PRICE: N65.00 GROSS. LESS N5.00 COMMISSION AND NET N65.00 to seller

4. COMMISSION: SELLER SIDE N2.50K, BUYER SIDE N2.50K AND PROJECT HANDLERS#1:00KPER LITRE

5. PAYMENT: U.S DOLLARS BY CASH

6. PURCHASE PROCEDURE (TANKER TO TANKER TRANSHIPMENT):

1. BUYER AND SELLER SIGN MOU.
2. BUYER RETURNS SIGNED MOU WITH VESSEL CPA, CHARTER RECEIPT, Q88, TRANSACTION CODE, AUTHORITY TO LOAD AND CAPTAIN’S LOCAL NUMBER.
3. BUYER MEET WITH SUPPLIER ONE ON ONE AND BUYER TAKES SUPPLIER SUPER CARGO ON BOARD HIS RECEIVING VESSEL TO SHOW CONTROL OVER THE VESSEL
4. SELLERS CAPTAIN OPEN COMMUNICATION WITH BUYERS CAPTAIN.
{BUYER OR HIS PAYMASTER STAYS WITH SELLER IN SAME HOTEL UNTIL THE TRANSACTION IS CONCLUDED. BUYER IS RESPONSIBLE FOR HOTEL BILL WHICH SUPPLIER MUST GIVE CHEQUE TO REFUND IF BUYER VESSEL IS NOT LOADED AND LOGISTICS FEE OF 30 MILLION UPON OPENING OF COMMUNICATION WHICH IS DEDUCTABLE FROM TOTAL SUM.
5. CARGO IS TRANSSHIPPED INTO BUYER’S VESSEL AND BUYER MAKES PAYMENT WITHIN 4 HOURS TO THE SELLER AND TO ALL FACILITATORS AND AGENTS.
6. SELLER’S SUPERCARGO DISEMBARKS AND VESSEL IS RELEASED TO SAIL AWAY.
7. THIS TRANSACTION IS ON BOARD SELLER S/CARGO AND LOAD BUYER VESSEL

6.1. Seller’s Banking Coordinates to receive confirmation of Buyer’s payment ability to purchase the product from the Buyer’s Bank for the product:

SUPPLIER’S BANK COORDINATES TO COLLECT N59.00
BANK NAME
ECOBANK NIG. PLC
BANK ADDRESS:
OJO CANTONMENT OJO, LAGOS
ACCOUNT NAME
ROYAL CHIBEN INVESTMENT LTD

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