BITUMEN - NET $145 PER MT AND GROSS $150 PER MT
FOB DIP & PAY TERM & TRANSACTION PROCEDURES:
1. Buyer sends ICPO to Seller.
2. Seller issues Commercial Invoice (CI) with Logistics Details to Buyer, Buyer signs and return to Seller for Final Endorsement.
3. Seller issues Refinery PPOP documents for buyers review and authentication and issuance of TSA for Buyer to Counter-sign and revert back to Seller.
A. Product Passport
B. Commitment to Supply from Title holder
C. Product Availability in the Storage Reservoir
D. Export License
E. Certificate of Origin
F. Certificate of Tax Registration
G. Tank Storage Agreement (TSA)
4. Buyer returns the counter-signed Tank Storage Agreement (TSA) for the leasing of Storage Tank Facilities and obtain the Certified TSR/ATV/ATI after 48hours of securing the Storage Tanks at the Loading Port.
5. Upon successful securing of the Storage Tanks, Seller then issues,
- DTA (Dip Test Authorization) / Authorization to Sell (ATV/ATS)
- Fuel Injection Report of Transnefte
- Tank Receipt
- SGS Report of the Product
-Final Contract Allocation Copy (Original)
6. NCNDA is signed and endorsed by all parties involved
7. Upon confirmation of act of transfer in Buyer's name, Seller issues to the Buyer, Title of Ownership Certificate (to be followed by all export documentation)
8. Buyer conduct Dip Test and Lifting commence and Buyer release payment by MT103/TT wire transfer to the Seller as per account details mentioned in the Commercial Invoice.
9. Seller pays commissions to Seller side and Buyer to Buyer side intermediaries via MT103.