FOB PROCEDURE 1
1. Seller issues SCO/FCO, and Buyer issues ICPO with banking information
2. Seller issues CI to Buyer, Buyer countersigns the CI and returns to Seller with their Signed TSA (Tank Storage Agreement).
3. Once the TSA is verified by seller, Seller will issue the following to buyer:
A. Fresh SGS (less than 24 old from Rotterdam/Houston branch)
B. Tank Storage Receipt / Vessel IMO number
C. Product Passport
D. Injection Report
E. Certificate of Origin
F. (ATSC) Authorization to Sell and collect
G. (DTA) Dip Test Authorization
H. (ATV) Authorization to Verify
4. Buyer has 1 day to conduct DIP Test in Seller’s Tank/Vessel, upon successful dip test, Buyer makes payment by MT103 or TT Wire Transfer for the total product available.
5. Buyer will provide to seller TSR and seller transfer title and export papers to buyer and immediately injects the product into the buyer’s tank.
6. Seller pays seller intermediaries commission buyer pays buyer intermediaries involved in the transaction based on IMPFA.
7. Seller issues draft contract for review, edit, and counter sign for 12 months or 52 weeks with rolls and extensions. Following counter sign by both buyer and seller, buyer will issue SBLC/IRDLC to financially back subsequent monthly or weekly shipments that continues as per terms and conditions of the SPA contract between buyer and seller.
FOB PROCEDURE 2
1. Buyer accepts seller working procedure and issue ICPO addressed to the seller refinery.
2. Seller issues commercial invoice (CI), Buyer signs and returns back commercial invoice and Tank storage agreement (TSA).
3. Seller provide buyer with the below listed PPOP.
A. Product Passport (product analysis report)
B. Irrevocable Commitment Letter to Supplier
C. Tank Storage Receipt (TSR)
D. Tank to Tank Injection Agreement (TTTIA) to be signed by buyer tank farm
4. Seller provides buyer with SGS report, Injection Report, unconditional DTA
5. (NCNDA/IMFPA) will be signed
6. buyer within 24 hours after successful dip test in seller tanks provide tank storage receipt (TSR) seller proceed for Tank to Tank injection and provide buyer with the injection report of the product into buyer tanks.
7. Buyer make payment for total cost of product injected into buyer tanks via MT103, Seller transfer title ownership to buyer with all exportation documents required of buyer for the transaction.
8. Upon conclusion of first lift transaction seller pays all intermediaries involved in the Transaction and proceeds with the buyer to sign contract
Good seller should contact: Elrufaiibrahimadc1@gmail.com