Dip and Pay Procedure, no upfront payments.
1. Buyer issues ICPO addressed to END SELLER via the mandate
on receipt of seller's soft offer
2. Upon seller’s approval of buyer’s ICPO, Seller issues commercial invoice (CI), with
SPA for the available quantity in the storage tank to buyer.
3. Buyer signs and returns to seller the commercial invoice / signed SPA scan copy of the buyer's passport.
4. Seller issues TSR & ATV or injections report of the destination for buyer to verify the product.
5. Buyer contact their tank farm to obtain Port Terminal code and NOR and send to the seller.
6. Seller approve and issue DTA for buyer and its SGS Agents to proceed with the
dip Test inspection process on sellers tank.
7. Upon successful dip test, Buyer nominated tank farm, Seller proceeds with the tank to tank transfer to the buyers secured shore tank at the loading port.
8. Upon successful Tank to tank transfer of product, Buyer make 100% payment by
MT103 TT Wire Transfer for the total product.
9. Seller pays All Intermediary Involved in the Transactio
Monthly Shipment Continues as per Terms and Conditions of the Sales and Purchase Agreement Contract between Buyer and Seller.
10. Seller issues draft contract to buyer to review for R&E monthly deliveries.