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JP54/ Unconditional Dip Test /Fob/Rotterdam 2018-11-08
This has reference to your enquiry seeking requirement for fuel JP54/Rotterdam.
Please find the procedure below. If this is acceptable, we shall forward SCO with copy to Seller.

Date: 29 October 2018

Product: JP54
Origin: Russian Federation
Price indication*: US$ 68.00 Gross | US$ 66.00 Net per Barrel ( price is slightly high )
Spot Order: 100.000 Barrels ~ 4/5 000.000 Barrels Contract Quantity per Delivery: >1.000.000 Barrels per week
Inspection: SGS, CIQ or similar.
Payment: MT103
Contract Duration: Spot + 12 months with R&E
Commission: Seller Side (closed) 50% | Buyer Side (open) 50% per Barrel

PROCEDURE (non-negotiable)
1. Buyer accepts Seller working procedure and issues ICPO, together with:
a. Company Profile
b. Company Registration Certificate
c. Copy Passport Buyer/Company Owner
2. Seller issues Commercial Invoice (CI), Buyer signs and returns CI and Tank Storage Agreement
3. Seller provides Buyers with the below listed PPOP.
A. Product Passport (Product Analysis Report)
B. Irrevocable Commitment Letter to Supplier
C. Tank Receipt (TSR), with ATV**
(Seller will provide more than enough evidence that product is ready and awaiting in tanks, before any buyer has to make their financial commitment to close the deal.
TSR will be given BY THE SELLER and will include ATV and opportunity to verify product existence. After and only after we proove product is available Buyer has to do their part of the deal/procedure.
There is no financial risk for any buyer, before we have proven product is available)

D. Tank-to-Tank Injection Agreement (TTIA) to be signed by Buyer Tank Farm**
4. Seller provides Buyer with SGS Report, Injection Report, and Unconditional Dip Test Authority (DTA).
5. Buyer performs dip test, and completes and signs IMFPA/ NCNDA, if not already done.
6. Buyer provides Tank Storage Receipt (TSR) to Seller to proceed with tank-to-tank injection of fuel into Buyers tanks.
7. Buyer makes payment to Seller for total cost of product injected into Buyers 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 for twelve (12) months.

*price indication is subjected to final confirmation from supplier via Commercial Invoice. ** PROCEDURE 3C provides the Buyer the Sellers TSR with coordinates for fuel to be verified in tanks. Thus, Buyer knows that there is fuel in the tanks prior to having their Tank Farm sign off on the Tank-to-Tank injection agreement in 3D..

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