FOB SINGAPORE / FUJAIRAH / ROTTERDAM / HOUSTON
FOB TRANSACTION PROCEDURE - I
1. Buyer issues ICPO with Tank Storage Agreement (TSA)
2. Seller issues Commercial Invoice (CI) for the available quantity in the storage tank.
3. Buyer signs and returns the Commercial Invoice with NCNDA/IMFPA signed by all buyer groups with commission structures.
4. Buyer provides Authorization to Verify (ATV + 1 DAY TSR) from their Storage Tank Farm to enable seller Logistic Teams verify buyer tank farm, after the verification is completed, seller proceed to issuing the following documents,
A. Unconditional Dip Test Authorization (DTA).
B. Fresh SGS Report.
C. Injection Report Shore Tank
D. Authorization to Sell and Collect (ATSC)
E. (ATV) Authorization to Verify
F. Certificate of Incorporation
G. Product Quality Passport
H. Statement of Product Availability
I. Certificate of Origin of the Product
J. Commitment and Assurance Letter to Supply
K. NOR (Notification of Readiness)
L. Tank Storage Receipt (TSR)
5. Buyer upon verification of the product and PPOP confirmation, order SGS to conduct the Dip Test on buyer expense.
6. Seller commences Injection immediately into buyer tank and issues buyer title of ownership certificate to be followed by all export documentations.
7. Buyer makes payment by MT103 or TT Wire transfer for the total product and lifts the product and seller pays all intermediary involve in the transaction.
FOB TRANSACTION PROCEDURE - TANK TO VESSEL
1. Buyer issues ICPO to seller mandate
2. Seller issues Commercial Invoice (CI) for the available quantity in the storage tank.
3. Buyer signs and returns the Commercial Invoice to seller
4. Seller provides buyer with the below listed PPOP;
- Product Passport (Product Analysis Report)
- Sellers Tank Storage Receipt (TSR) with GPS Coordinates/Tank Numbers
- Injection Report of the product
- Statement of Product Availability
- Authorization To Verify (ATV) via email or call
5. Buyer request invoice from tank storage company for Tank Extension & CAEP (Clearance Access Entrance Permit)
- Tank storage company will issue invoice for One (1) day tank extension and CAEP invoice.
6. Buyer pays directly to the tank storage company for tank extension and CAEP fees (payment must be cleared in tank storage company account within 10 days to avoid any demurrage occur in the transaction)
7. Tank storage company issues TSR & Pass Access Code/Card (CAEP) for maximum of two (2) representatives from buyer side. Seller issue UDTA & SGS report (within 24 hours)
8. Buyer conduct dip test. (NCNDA/IMFPA) will be signed by buyer within 24 hours after successful Dip Test in seller tanks
9. Buyer shares vessel details / Q88
10. Injection of the product by seller into buyer vessel.
11. Tank farm issue tank extension invoice for product injection from tank to vessel. Number of days will depend on product quantity.
12. Buyer makes payment for total cost of product injected and tank extension via MT103. Seller transfer Title Ownership to buyer with all exportation documents required of buyer for the transaction
13. Upon conclusion of first lift transaction seller pays all intermediaries involved in the transaction and proceeds with the signing of contract with buyer.
FOB TRANSACTION PROCEDURE NON-NEGOTIABLE - I
1. Buyer issues ICPO, with TSA and company registration certificate.
2. Seller issues Commercial Invoice (CI) to buyer, buyer signs and returns back to seller with NCNDA/IMFPA signed by all buyer groups with commission structures.
3. Buyer provide 4 days TSR from his Tank Farm Company and Seller logistics team verifies buyer’s provided tank farm and pay for the remaining 4 days of buyer’s tank farm to obtain 8 Days TSR, and after confirmation of the funds by buyer’s tank farm, to show both parties proof of Readiness with GPS Coordinate-Tank Storage Receipt (TSR)
4. Seller issues following PPOP documents to Buyer: Seller provide the below documents to buyer:-
A. Certificate of Incorporation
B. Certificate of Origin of the Product
C. 48 hours Fresh SGS Report in Rotterdam.
D. Statement of Product Availability
E. Product Quality Passport (Dip Test Result)
F. Commitment/Assurance letter to Supply
G. Tank Storage Receipt (TSR) GPS coordinates, location Tank Number, Bar Code.
H. Notification Of Readiness (NOR)
I. Authorization to sell and collect (ATSC)
J. Injection report
K. Dip test authorization letter (DTA) – Unconditional
L. Authorization to verify the product in seller’s tank (ATV)
5. Buyer conducts Dip test on the product by his SGS team or equivalent
6. Seller commence Injection of the product into buyer’s Leased Tank.
7. On completion of the product injection into buyer’s tanks, buyer makes full payment of the product by means of MT103/TT to seller nominated bank account. Seller pays all intermediaries involved in the transaction and subsequently monthly Shipment continues as per terms and conditions of the Commercial Invoice and extension of transaction by issuing 12 months contract to buyer for proceeding
FOB TRANSACTION PROCEDURE NON-NEGOTIABLE - II
1. Buyer issues ICPO to the seller upon acceptance of seller mandate’s SCO along with buyer TSA.
2. Seller issues commercial invoice ci, for the available quantity in the storage tank to buyer, buyer sign and returns commercial invoice to seller and buyer parties sign the NCNDA/IMFPA and send to seller.
3. Seller sends the following documents to the buyer:
A. Authorization to sell and collect ATSC
B. Commitment and assurance letter to supply
C. Statement of product availability
D. Product passport
E. Certificate of origin of the product
F. Notification of readiness (NOR)
G. Company registration certificate
4. After buyer received the above PPOP, buyer provides notification of readiness (NOR) from buyer tank farm/logistics.
5. Seller shall immediately submit the SGS report to the buyer, buyer verifies product with their SGS teams if necessary. seller proceeds with product injection into buyer leased tanks.
6. Buyer makes 100% payment by mt 103 TT wire transfer for the total product within 78 hours and seller transfer the title document into buyer’s name including all export documents.
7. Seller pays commission to all intermediaries involved in the transaction 24 hours after confirmation of the buyer payment, for initial spot, as well as each subsequent contract shipment.
PROCEDURE F.O.B /CI DIP AND PAY ROTTERDAM
1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) containing the seller's working procedure with banking details along with Tank Storage Agreement (TSA) as proof of storage tank availability.
2. Seller issues Commercial Invoice (CI) of the product in tanks at the port along with Letter of Commitment to Supply Product for buyer review; Buyer and Buyer’s Logistics sign and return commercial invoice to seller within its validity.
3. Seller issue to buyer POP documents listed below:
A. GPS coordinate-tank storage receipt TSR with scanned barcode
B. Injection Report Shore Tank (IR)
C. Unconditional Dip test Authorization (DTA)
D. Authorization to sell and collect (ATSC).
E. Fresh SGS Report in Seller Tank. (Not older than 48 hours)
F. Authorization to Verify the Product in Seller's Tank (ATV)
G. Product passport and Analytical report (PP)
H. Product Allocation Certificate
4. Seller issues NCNDA/IMFPA for the following document to all Intermediaries and to the buyer involved in the transaction for signing.
5. Buyer orders SGS, Intertek or its equivalent team to conduct Dip test inspection on the product in Seller's tank at buyer’s expense and sends his full Tank Storage Receipt (TSR) 8 to 10 days TSR to seller.
6. Upon successful Dip Test in seller's tanks, product will immediately be injected into Buyer's tanks.
7. Buyer makes 100% payment by MT103 TT wire transfer for the total product and Seller transfers Title Ownership to Buyer. Seller pays commission to all intermediaries involved in the transaction within 24 hours upon confirmation of buyer’s payment.
8. Seller issues draft Sales Purchase Agreement (SPA) to buyer to review for R&E monthly deliveries.
9. The subsequent delivery shall commence according to the terms and conditions of the contract.
TANK TO TANK INJECTION AGREEMENT (TTTIA)
1. Buyer Issues ICPO with Company Registration Certificate and Tank Storage Agreement (TSA).
2. Seller issues Commercial Invoice (CI) to buyer, buyer signs and returns back to seller with NCNDA/IMFPA. seller provide the below documents to buyer:
A. Statement of Product Availability
B. Notification of Readiness (NOR)
C. Product Quality Passport (Dip Test Result)
D. Commitment/Assurance Letter to Supply
E. Certificate of Incorporation
F. Certificate of Origin of the Product
G. Tank Storage Receipt (TSR)
H. TANK TO TANK INJECTION AGREEMENT (TTTIA) to be signed by all parties including buyer and it logistic Tank Farm.
3. Buyer returns the signed TTTIA, seller confirm the signed TTTIA by buyer and its logistic tank farm.
4. Seller issues the following POP documents to buyer:
A. Injection Report of the Product
B. Dip Test Authorization Letter (DTA) - Unconditional
C. Authorization to Sell and Collect (ATSC)
D. Fresh SGS Report Inspected not older than 48 hours
E. (ATV) Authorization to Verify
F. Injection Program Schedule
5. Buyer conducts dip test on the product by SGS or equivalent on buyer expenses
6. Seller commences injection immediately into buyer tank and issues buyer Title of Ownership Certificate to be followed by all Export Documentation.
7. Buyer makes payment for the total value of product via means of MT103- TT.
8. Seller pays all intermediary involved in the transaction based on NCNDA/IMFPA agreement.
FOB TRANSACTION PROCEDURE - II
1. Buyer issues ICPO, with TSA and Company Registration Certificate.
2. Seller issues Commercial Invoice (CI) to buyer, buyer signs and returns back to seller with NCNDA/IMFPA signed by all buyer groups with commission structures. Seller provide the below documents to buyer:
A. Certificate of Incorporation
B. Certificate of Origin of the Product
C. Statement of Product Availability
D. Product Quality Passport (Dip Test Result)
E. Commitment/Assurance letter to Supply
F. Tank Storage Receipt (TSR) with GPS coordinates, location Tank Number, Bar Code
G. DTA to be signed by buyer and its logistic tank farm.
H. Notification of Readiness (NOR)
3. Buyer returns the signed DTA, seller confirm the signed DTA by buyer and its tank farm.
4. Seller issues the following POP documents to Buyer:
A. Injection report Shore Tank Rotterdam / Houston
B. Dip test authorization letter (DTA) - Unconditional
C. Authorization to sell and collect (ATSC)
D. Fresh SGS Report Inspected in Rotterdam / Houston Shore Tanks.
E. (ATV) Authorization To Verify
F. Injection Program Schedule
5. Buyer conducts Dip test on the product and makes payment for the total value of product through the means of MT103- TT.
6. Seller pays all intermediary involves in the transaction based on NCNDA/IMFPA agreement
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