Spot Banking Procedure FOB ROTTERDAM:
1. Buyer send ICPO + TSA, then Seller review and issue commercial invoice to the buyer.
2. Buyer executes the commercial invoice, sign and seals it and sends back to seller.
3. Seller will issue DTA, TSR, TSC + fresh cut SGS reports to the buyer.
4. Buyer dips, confirms and verifies the product Q&Q. and send their TSR/ATI along with confirmation letter for the storage allocation to the seller, all parties sign NCNDA/IMFPA.
5. Buyer Pays with MT103 with condition against successful loading and Title Transfer to buyer's name. Then follow up immediately with the injection commencement to buyer's secured tanks without any delays.
6. Seller pays all commissions according to NCND/IMFPA
7. Seller and buyer signs annual contract
We are closing many deals based on this procedure and it will be accepted by any genuine seller. Please offer me if you have this procedure accepted seller, otherwise it will be a futile effort. Let us hope for the best to come. Good day!