1.000.000 - 2.000.000 bbls
Gross platts Minus $13 / Minus $10
TERMS & OPERATIONAL PROCEDURE
SPOT CI, DIP & PAY
1. Buyer issue ICPO with scan passport copy.
2. Seller Issue CI for the available quantity in the storage tank, Buyer signs and return the CI to seller with signed NCNDA/IMFPA.
3. Seller issues Dip Test Authorization AGREEMENT letter to buyer and invoice for 1 or 2 days tank extension payment for DTA to be signed by all parties including Seller's tank farm before buyer can conduct Dip Test in seller tank in Rotterdam.
4. Seller issues:
(i) Tank Receipt
(ii) Tank Storage Agreement
(iii) Product Passport issued by SGS
(iv) SGS Report.
(v) Injection Report
(vi) Certificate of Origin Authorization To Sell (ATS).
5. Upon successful dip test in seller tank, Buyer provide vessel details or Tank details, Seller issue Title of ownership Certificate.
6. Buyer make 100% payment by MT103 TT wire transfer for the total product and Seller pays commission to all intermediaries involved in the transaction 24 hours after confirmation