PROCEDURE  1

 

1. Buyer receives official offer and issues/sends ICPO to Seller with Refinery approved FOB delivery procedure.

2. Seller issues Commercial Invoice (CI), buyer signs and returns to seller with Tank storage agreement (TSA). Seller will complete due diligence on the Tank Farm of the buyer before making their 2 days tank lease payment.  

3. Seller pays the buyer’s tank for 2 days for the Injection Process and Buyer pays his Tank Farm Company for 3 days’ tank storage costs, (totaling a five 5 days TSR).   
4. Buyer tank farm provide 5 days storage receipt (TSR) to Seller and buyer, Seller issues Unconditional DTA to buyer along with following documents: -
(A) Product Passport, (B) Certificate of Origin, (C) Product Injection Report, (D) Statement of Product Availability, (E) Commitment to Supply, (F) Authorization to Sell and Collect.   

5. Buyer conducts Dip test on the product and makes the payment for the total value of product injected into the tanks through the means of MT103- TT within 24 hours of confirming Q/Q of the product.   

6. Seller pays all intermediaries involved in the transaction and subsequently monthly shipment continues through sales agreement between Refinery and buyer’s company.

4. Buyer tank farm provide 5 days storage receipt (TSR) to Seller and buyer, Seller issues Unconditional DTA to buyer along with following documents: -

(A) Product Passport, (B) Certificate of Origin, (C) Product Injection Report, (D) Statement of Product Availability, (E) Commitment to Supply, (F) Authorization to Sell and Collect.  

 

5. Buyer conducts Dip test on the product and makes the payment for the total value of product injected into the tanks through the means of MT103- TT within 24 hours of confirming Q/Q of the product.  

 

6. Seller pays all intermediaries involved in the transaction and subsequently monthly shipment continues through sales agreement between Refinery and buyer’s company.

 

 

PROCEDURE 2.

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(REFINERY SELLING PROCEDURES FOB ROTTERDAM/HOUSTON)
1. Buyer sends ICPO in line with seller working procedures alongside his/her Tank Storage Agreement (T.S.A.) on receipt and acceptance of Seller's Soft Offer;
2. Seller issues Commercial Invoice (C.I.), Buyer Signs within 24 hours and returns to Seller Within its validity;
3. Upon receipt and review of the signed C.I., seller issues Dip Test Authorization (D.T.A) to be completed and signed by buyer/ Buyer's logistics in order for Dip Test to be conducted alongside counter signed copies of the C.I;
4. Buyer returns the Dip Test Authorization (DTA) fully completed and signed within its validity and upon successful review of the completed DTA, seller issues the below full POP documents:-
A. Fresh SGS Report (Not older than 72 hours);
B. Product Reservoir Receipt;
C. Accreditation Certificate;
D. Product Passport (Quantity and Quality Analysis);
E. Authorization to Sell and Collect Certificate (ATSCC);
F. Pre-Injection Report (PIR);
G. NCNDA/IMFPA (To be completed by all intermediaries); H. Certificate of Product Origin;
I. Authority to Verify (ATV) either physically or otherwise.
5. Upon receipt and confirmation of the above POP Documents, Buyer provides its testing officials (SGS or INTERTEK) and the needed test are carried out on the product in seller’s tanks;
6. Buyer upon successful Dip Test makes full payment by MT103 / TT wire transfer for the total product and Seller pays commission to all intermediaries involved in the transaction within 24 hours after confirmation of buyer's payment and injection commences immediately;
7. Seller issues a contract for buyer’s desired duration upon successful completion of the trial order.

 

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