Cocoa Beans Purchase Agreement

Commodity: Premium Ghana Cocoa Beans – Grade I (Cocoa Board Standard)
Packaging: 65 kg jute bags • 1 × 40 ft HC container (≈ 25 MT)
Unit Price: USD 3 000 / MT
Total Contract Value: USD 75 000

Parties

Role	Details
Buyer	Skyocean International Ltd (Ghana Branch) P.O. Box 123, Harbour Road, Tema, Ghana Tel: +233 999 000 000 Email: [email protected] Representative: Trade Director
Seller	Fictitious Cocoa Farmers Co-op Ltd. Old Cocoa Lane, Kumasi, Ghana Tel: +233 888 111 222 Email: [email protected] Representative: Managing Director

1. Quality Specifications

Parameter	Specification
Moisture	≤ 7.5 %
Mouldy Beans	≤ 3 %
Slaty Beans	≤ 3 %
Insect-damaged	≤ 1 %
Free Fat Content	≥ 54 %
Certification	Ghana Cocoa Board (QCC) Export Licence

Beans shall be clean, sound and fit for cocoa processing, free from infestation or foreign matter.

2. Incoterm & Route

Incoterm: EXW (Ex-Works) – Seller’s Warehouse, Kumasi
Delivery Location: Skyocean Export Facility, Tema, Ghana
Final Export: Handled by Skyocean after cocoa is received and approved at the Tema facility.

3. Quantity & Delivery

Seller shall make available one 40-ft container (≈ 25 MT) of Grade I cocoa beans at the Seller’s warehouse and transport the goods to Skyocean’s export facility in Tema within fifteen (15) calendar days of receiving the 30 % advance payment (see § 4). Delay triggers the remedies in § 8.

4. Payment & Risk-Mitigation

30 % Advance Payment
• Paid by bank transfer or mobile money within two (2) business days of contract signing.
70 % Balance Payment
• Paid within twenty-four (24) hours after the cocoa is delivered, weighed, and passed visual/odor inspection at the Skyocean export facility in Tema.

Practical Risk-Mitigation (no crypto jargon!)

• Co-operative Membership – Seller must belong to a registered cocoa farmers cooperative or other recognised association approved by the Ghana Cocoa Board.
• Basic KYC – Submission of business registration, Tax Identification Number (TIN) and representative national ID prior to first shipment.
• Track-Record Incentives – After every successful delivery, Seller’s internal score improves, unlocking higher advance percentages and shorter payment windows.

5. Seller Banking (escrow withdrawal)

Bank Name   : Ghana National Commercial Bank
Branch      : Tema Industrial Area
SWIFT       : GNBCGHACXXX
Account Name: Fictitious Cocoa Farmers Co-op Ltd.
Account No. : 010-987654-444

(Sample – fictitious)

6. Shipping Documents (upload to DKG)

Commercial Invoice
Clean On-Board Bill of Lading (consigned to Skyocean International Trading LLC)
SGS Weight & Quality Certificate
Cocoa Board Export Licence copy
Phytosanitary Certificate
Insurance Certificate (110 % of CFR value)

7. Title & Risk Transfer

Risk transfers to Buyer when the beans are received and signed-for at the Skyocean export facility. Title transfers upon confirmation of the 70 % balance payment in Seller’s account.

8. Default & Penalties

Seller Default – Failure to deliver the contracted quantity/quality by Day 15 → Buyer may cancel the contract; Seller returns the 30 % advance and pays a 2 % late-delivery fee.
Quality Failure – If goods fail Ghana Cocoa Board or SGS inspection standards, Seller must replace or refund within five (5) days.
Buyer Default – If Buyer (Skyocean) fails to pay the 70 % balance within 24 hours of acceptance, Seller may reclaim the beans or charge statutory interest (Bank of Ghana prime rate + 2 %).

9. Force Majeure

Standard ICC force-majeure clause applies. Affected party must notify the other within 5 days.

10. Governing Law & Arbitration

Governing law: Republic of Ghana.
Disputes unresolved amicably → Ghana Arbitration Centre (GAC), Accra.

11. Non-Circumvention & Confidentiality

ICC NCND clause valid for five (5) years from signing.

12. Signatures

Buyer – Skyocean Int’l Ltd	Seller – Cocoa Co-op
Authorised Signatory	Authorised Signatory
Date: 11/05 / 2024	Date: 11/05 / 2024

End of Agreement