MEMORANDUM OF UNDERSTANDING

BETWEEN

SELLER
NADIMATZ LIMITED

AND

BUYER

This Agreement Is Made On This

22ND day of November, 2021
SELLER: NADIMATZ LIMITED

This is referred to here as the seller

BUYER :
3. PRODUCT

BLCO.

4. QUANTITY

40,000M/T

QUALITY

BLCO– EXPORT GRADE

5. DELIVERY
CALL AND LOAD
6. PRICE

N45.00 per liter

N2.00 to seller mandate (closed)

N2.00 to buyer mandate and facilitators

Buyer’s mandate 1dollar per liter

Buyer’s facilitator 1dollar per liter l

N41.00 net to seller’s account

8 INSPECTION

To be conducted by buyer’s nominated Inspectors/ Buyer’s account.

PROCEDURE FOR BLCO (TTT).

WORKING PROCEDURE CALL AND LOAD

(1) BOTH BUYER AND SELLER SIGN SPA BUYER RETURN WITH FORMAT THE SUPER
CARGO AND INSPECTOR SCAN PASSPORT WITH THEIR GSM NUMBER BUYER
RELEAS ALL DOCUMENTS OF THE VESSEL, IMO NUMBER TO THE SELLER TO ENABLE
HIM SENT NOR TO THE VESSEL FOR LOADING.
(2) CONFIRM VESSEL DOCUMENTS AND IMO NUMBER
(3) SELLER SEND CALL TO THE VESSEL READINESS
(4) SELLER SENT GUN BOAT TO ESCORT THE VESSEL IN NIGERIA FOR LOADING
(5) ON ARRIVAL TO LOADING POINT THE VESSEL TIED READINSS TO LOAD BUYER PAY
50% OF TOTAL PRODUCTS
(6) SELLER LOAD BUYER VESSEL ON COMPLETION OF LOADING BUYER PAY THE
BALANCE OF 50% INCLUDING MANDATE AND FACILITATORS
(7) SELLER CONFIRMS PAYMENT RELEASE GUN BOAT TO ESCORT VESSEL OUTSIDE
NIGERIA WATER TO HIS POD.

NOTE: BUYER AND SELLER WILL BE TOGETHER IN BUYER’S NOMINATED

HOTEL INCLUDING THE PAYMASTER AS THE TRANSACTION PROCEED.

11. GENERAL

Buyer & Seller both agree and hereby append their signatures and seal

To comply with the terms and conditions.

SELLER’S BANKING DETAILS TO RECEIVE N41.00 PER BARREL.
(TRANSFER).
ACCOUNT NAME NADIMATZ LIMITED

BANK FIRST BANK

BANK ADDRESS 24 HOSPITAL ROAD,

ACCOUNT NO 2006111089

SORT CODE 011215088

ACCOUNT OFFICER INNOCENT

SELLER’S MANDATE BANKING DETAILS TO RECEIVE N2.00 PER

BARREL.(CLOSED)
ACCOUNT NAME PATRICK N. OGBUEHI

BANK FCMB

BANK ADDRESS OLU OBASANJO

ACCOUNT NO 5897915029

SORT CODE

ACCOUNT OFFICER AMAKA

BUYER’S ACCOUNT TO PAY $26 PER BARREL TO SELLER’S ACCOUNT.

BANK NAME:
BANK ADDRESS:
ACCOUNT NAME:
ACCOUNT NUMBER:

BANK OFFICER:
BANKING OFFICER PHONE NO.
EMAIL:

BUYER’S MANDATE BANKING DETAILS TO RECEIVE $1

PER BARREL.
ACCOUNT NAME

BANK

BANK ADDRESS

ACCOUNT NO

SORT CODE

ACCOUNT OFFICER

BUYER’S FACILITATORS BANKING DETAILS TO RECEIVE

$1 PER BARREL.
ACCOUNT NAME

BANK

BANK ADDRESS

ACCOUNT NO

SORT CODE

ACCOUNT OFFICER

FOR AND ON BEHALF OF BUYER:

In witness thereof, the undersigned has set his/her hand on this, 21/11/2021
Signed, Sealed and delivered by: Signed, Sealed and delivered by:,

BUYER: SELLER:

Represented By Represented By: Mr.

EliseusUgorjiAnosike
Designation: Designation:
 Signature/Seal: Signature/Seal:

Date: Date: 21/11/ 2021

NOTE:

The comprehensive payment schedule to various Bank Accounts

of all the parties concerned will be forwarded to you after you
have signed and returned this preliminary M.O.U based on the
agreed price at per barrel.

Total in tonnage 40,000mt