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50,000 metric tons of Georgian Origin DIESEL EN590 10PPM available for immediate take over in Fujairah waters.
TANK TAKE OVER (TTO) PROCEDURE.
1.Buyer issues Irrevocable Corporate Purchase Order (ICPO) with Guarantee Letter to take over Title of the product.
2.Seller issue draft (MOU) agreement to Buyer counter-sign and return back to seller.
3.Upon Seller receipt of sign MOU-contract from the buyer, Seller legalizes the agreement with the ministry of energy,
4.Seller sends to Buyer the following documents for Buyer's confirmation.
A.Seller's Export License/Registration Certificate
B.Bill Of Lading-(in the name of previous buyer as Consignee.)
C.Vessel Tanker Details.
D.Product Passport-Dip-Test Report.
E.Proforma Invoice.
F.5% Payment deposit Invoice.
G.Cargo Manifest.
H.Cargo Ullage Report.
I.Q88
5.Buyer confirms the goods documents and makes 5% down deposit which stands as an Allocation and Security Guarantee payment to the seller nominated bank by T/T Wire Transfer within 3 banking days to enable seller change every document to buyer¡¯s name and instruct the vessel captain to reroute the vessel to the new buyer¡¯s destination port . The 5% deposit Payment made shall be deducted from the total payment value of the takeover product.
6.Seller releases a fresh dated Dip-Test Authorization-DTA to Buyer to order SGS inspection or Equivalent inspection team for Q & Q inspection upon goods/cargo arrival at the discharge port.
7.Upon the successful completion of Dip-test inspection, Buyer make the balance 95% payment by MT103 wire transfer for the total goods value,Seller transfers Title of ownership Certificate to buyer's name as the legitimate owner of the goods and commence trans-loading.
8.Trans-loading commence immediately.
9.Seller will release payments to the intermediaries involved within 48 hours of receiving the Payment for the product from the Buyer¡¯s bank.
TTO transaction procedures and payment terms strictly by MT103
Price : $580 per Mt.
Regards
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