We can give better procedure if buyer can show prior performance
to other sellers and verified, Procedure will be like as follows,
OPTION A: PROCEDURES DIP & PAY FOB ROTTERDAM
1) Buyer issue ICPO containing the seller's working procedure with banking details and scanned copy of buyer's passport along with "TSA" and buyer company Certificate of INCORPORATION.
2) Seller issues commercial invoice of the product in tanks at the port, to be signed by buyer and to be returned back (commercial invoice) to seller after completed.
3) Seller issue to buyer PPOP listed below:
a) Tank Storage Receipt (TSR) with GPS Coordinate of where the tanks are located.
b) Injection Report
c) Dip test authorization letter (DTA)
d) Authorization to sell.
e) SGS Report.
f) Authorization to Verify the Product in the Seller's Tank (ATV)
4) Buyer inspect by SGS on buyer’s expenses and sends TSR.
5) Seller issues the following document to all intermediaries involved in the Transaction and to buyer’s endorsed NCNDA/IMFPA.
6) Upon successful Dip Test in tanks, product will immediately be injected into Buyer's tanks. Buyer makes Payment for the product via MT103/TT.
7. Buyer lifts product and all intermediaries are paid and seller and buyer consider and signs further contracts after successful transaction.
OPTION B: PROCEDURES DIP & PAY FOB ROTTERDAM
1. Buyer issues an ICPO, CP, buyer company registration certificate and buyer Scanned INTL. PASSPORT COPY.
2. Seller issues Commercial Invoice (CI) of the total value amount of stored product to Buyer.
3. Buyer signs and returns CI.
4. Upon receipt of signed CI, Seller issues to buyer the "ACT OF TRANSFER" to be signed by both parties along with these PPOP documents...
A.) Certificate of origin
B.) Product Passport
С) INJECTION Report
D)Tank Storage Receipt (TSR),
G) RUSSIAN MINISTRY OF ENERGY AFFIDAVIT
H) DIP TEST AUTHORIZATION
5. Buyer contacts the Seller’s leased tank farm company, Buyer takes over the lease of the refinery's storage tank after Perform DTA.
6. Seller issues to the Buyer Title of Ownership Certificate otherwise known as "Allocation Certificate". And after upon successful results, buyer pays for the product by MT103/TT within 48 Hours and lifting commences from Buyer’s leased tank to vessel.
7. Seller pays commissions to all intermediaries involved in the transaction: Seller Side paid by seller/Buyer Side paid by seller.