Specifications/Report of test analysis.
Specific Gravity at 150C, kg/1 ASTMD1298/P 160 0.8597 API at 60 Degrees F. ASTM Table 51 33 - 37 Salinity ASTMD 4006/1P 358 4.7P.T.B@60Degrees F BS & W Content (Vol. %) ASTMD 473/1P 53 0.25 Average. Pour Point Degrees F. ASTMD 97/1P 15 +/-45 Degrees. F Sulphur % wt ASTMD 0.014.
1. SPA Signed by both parties with banking co-ordinates and deposited to their respective banks.
2. Seller provides documents of the Loaded Vessel for Confirmation.
3. Buyer’s Inspectors appointed by Maveric Oil and Gas come on Board Seller’s Vessel for Q & Q in Nigerian waters NOTE: ALL EXPENSES INVOLVED WITH Q & Q, INCLUDING CLEARANCE AND NAVAL BOAT THAT WILL CONVEY INSPECTOR / SUPER CARGO AND THREE SECURITY OFFICERS TO BOARD THE VESSEL FOR Q&Q INSPECTION WOULD BE BORNE BY MAVERIC OIL AND GAS (MANDATE TO THE TERMINAL) AND THE BUYER WILL REFUND THIS ON PAYMENT OF THE CARGO IN INTERNATIONAL WATERS AND THIS WILL ATTRACT THE SUM OF USD $250,000.
4. Upon Completion of Inspection and Mounting of Super Cargo, Buyer Immediately Issues a Confirmed, Irrevocable, and Revolving Documentary letter Covering Cargo Value to Seller.
5. Seller Confirms RD LC and Provides Buyer full assistance with Vessel Takeover/Re-charter.
6. Buyer Completes Vessel Re-Charter with Necessary Payment to Vessel local Handler/Owner.
7. Seller Re-assigns all Relevant Documents to Buyer and Buyer Effects Payment to Seller and all Facilitators Simultaneously.