Tank Farm Procedure :
Discount Rotterdam: Spot $9/6 Contract $9/7.
Discount China: Spot $8/5 Contract $8/6.
1 Buyer issues LOI stating quantity needed
per month including in LOI a copy of Sellers
procedures showing full acceptance of
2. Buyer indicates which tank farm
he prefers; Rotterdam, Qingdao, Lanshan.
3 Seller issues Commercial Contract to Buyer, which includes name of, ie. Tank Farm &
4. Buyer signs & returns Contract and states
which type of instrument he will be
5. Buyer within 5 banking days has Buyer’s
Bank to issue by SWIFT B.G., DLC, SBLC,
to Seller’s Bank, in accordance with the
attached verbiage within the contract.
6. Seller’s Bank confirms instrument Within 24
hours or on confirmation, Seller's Bank
issues by SWIFT 2% PB to Buyer's Bank. If
Buyer does not meet instrument
requirements contract will be considered in
7. Within 72 hours of Buyer issuing its
instrument and Sellers confirmation, Seller
issues ATS, Tank Numbers, TSR and other
POP information to Buyer so Buyer can
conduct DD at the appropriate storage yard
to verify the fuel.
8.After initial DD by Buyer, Seller issues DTA
for the DIP test for Q&Q CIQ which has to
be completed by Buyer within 48 hours or
actual receipt of the DTA notice.
9.The Buyer through Third Party Inspection
Company conducts DIP test and Q&Q CIQ at
buyer's expense. Copies of reports are to be
given to Buyer and Seller.
10. Upon successful dip test analysis, Buyer
pays via MT-103 within 24 hours and seller
transfers good and marketable title into
11. Seller transfer cargo into
Buyer’s tanks or ship within time frames
mutually agreeable to Seller and Buyer, which shall be no more than 48 hours.
COPY OF ALL COMMUNICATIONS TO THE
SELLER'S BANK IS SENT TO THE
SELLER FOR CONFIRMATION AND
Documents To Be Provided
Seller’s Commercial Invoice, One
(1) Original and three (3) Certificate of Origin issued by
NNPC, One (1) Original and three
(3) copies Certificate of
Authenticity issued by NNPC, One
(1) original and three (3) copies Certificate of ownership
Certificate of Analysis Charter Party Agreement Q & Q
Certificate of Title
Any additional documents required
to be provided per the terms of this
Agreement or commonly provided
as part of PPOP and full POP.
Procedure not negotiable.
Reliable buyers make contact no time wasters.
Skype - komakezexports