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ROTTERDAM/HOUSTON STANDARD FOB PROCEDURE:
1. Buyer issues icpo addressed to seller/refinery mandate along with TSA.
2. Seller issues commercial invoice, buyer signs and returns back to seller within the validity period stipulated on
the commercial invoice.
3. Seller verifies buyer tank farm and if approved, seller and buyer proceed to request for invoice of 5 days payment
remittance, seller leases the buyer tank farm for 5 days only. Seller also issues injection schedule upon buyer tank farm
receiving payment and issuance of the tsr and seller proceed to inject the product into the leased tank storage.
4. Upon successful injection, seller releases the following PPOP documents to buyer;
a. Product certificate of origin.
B. Authorization to sale and collect (ATSC)
C. Product passport.
D.dip test authorization,
E. Fresh SGS
and. Injection report and ncnda/imfpa will be signed by all intermediaries involved in the transaction.
5. Upon buyer receipt of the ppop, buyer inspects product with SGS agent or equivalent.
6. After buyer's successful dip test on the product, buyer makes the payment for the total value of the product via
mt103-TT.
7. Upon seller receiving the payment for the product from the buyer, seller issues to buyer the title ownership of
the product and all export documents of the product
8. Buyer lifts the product with its vessel tanker. Seller pays all intermediaries involved in the transaction and send
spa to buyer for one year; subsequently monthly shipments continue as per terms and conditions of the contract.
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