FOB TRANSACTION PROCEDURE TANK TO VESSEL
11). Buyer sends ICPO to Seller on receipt of Seller's Soft Corporate Offer.
12). Seller issues commercial invoice CI, for the available quantity to Buyer and ICC WARNING LETTER, Buyer Signs and returns to Seller along with NCNDA/IMFPA signed by all buyer groups with
commission structures to issue the deal true Tank to Vessel.
13). Seller receives signed CI with NCNDA/IMFPA issues to Buyer (2days) Seller tank extension payment invoice for immediate storage payment.
14). Buyer proceeds with payment and send back transfer evidence confirmation copy to Seller for confirmations and storage activations.
15).Seller Legalized/Register PPOP documents including UDTA with the ministry of energy and issue to Buyer:
(A) Product passport
(B) Certificate of Origin
(C) Refinery commitment Letter to supply
(D) Company Certificate of Incorporation
(E) Unconditional Dip Test Authorization (UDTA)
(F) Fresh SGS Report
(G) Tank Storage Receipt (TSR)
16).Buyer verifies documents and proceeds with dip test in the Sellers tanks according to tank numbers in the TSR.
17). Buyer provides Q88 and Authorization to inject from the shipping company.
18).Seller shall immediately submit the (SGS or INTERTEK) inspection Report along with the full Proof of Product (POP) to the Buyer including Notice of Readiness To Inject.
19). Seller commences injection into Buyer vessel and issued Injection Report to Buyer.
20). Upon the confirmation of the total quantity Injected into buyers’ vessel, Buyer makes 100% payment by MT103 TT wire transfer for the total product.
21). Seller pays Commission to all intermediaries involved in the transaction within 24 hours after confirmation of the Buyer Payment.
11). Buyer sends ICPO to Seller on receipt of Seller's Soft Corporate Offer.
12). Seller issues commercial invoice CI, for the available quantity to Buyer and ICC WARNING LETTER, Buyer Signs and returns to Seller along with NCNDA/IMFPA signed by all buyer groups with
commission structures to issue the deal true Tank to Vessel.
13). Seller receives signed CI with NCNDA/IMFPA issues to Buyer (2days) Seller tank extension payment invoice for immediate storage payment.
14). Buyer proceeds with payment and send back transfer evidence confirmation copy to Seller for confirmations and storage activations.
15).Seller Legalized/Register PPOP documents including UDTA with the ministry of energy and issue to Buyer:
(A) Product passport
(B) Certificate of Origin
(C) Refinery commitment Letter to supply
(D) Company Certificate of Incorporation
(E) Unconditional Dip Test Authorization (UDTA)
(F) Fresh SGS Report
(G) Tank Storage Receipt (TSR)
16).Buyer verifies documents and proceeds with dip test in the Sellers tanks according to tank numbers in the TSR.
17). Buyer provides Q88 and Authorization to inject from the shipping company.
18).Seller shall immediately submit the (SGS or INTERTEK) inspection Report along with the full Proof of Product (POP) to the Buyer including Notice of Readiness To Inject.
19). Seller commences injection into Buyer vessel and issued Injection Report to Buyer.
20). Upon the confirmation of the total quantity Injected into buyers’ vessel, Buyer makes 100% payment by MT103 TT wire transfer for the total product.
21). Seller pays Commission to all intermediaries involved in the transaction within 24 hours after confirmation of the Buyer Payment.
