1. DIP AND PAY FOB PROCEDURE

  1. Buyer issues ICPO to Seller along with company profile, registration and passport copy of a director (in charge), along

with His Tank Storage Agreement (TSA).

  1. Seller issues Commercial Invoice (CI) to Buyer. Buyer signs the CI returns it to Seller along with NCNDA and IMPFA.
  2. Seller issues ATSC and commitment to supply to Buyer.
  3. Seller logistics team verify Buyer’s provided tank farm, Then Buyer pays 5 days to his Tank farm to confirm injection readiness towards the transaction to obtain TSR, to show both parties proof of readiness.
  4. Buyer contacts nominated tank farm to provide approve Confidential Agreement from port authority (with IMDG

Code) in conformity of safety allowance and readiness to receive the product at buyer prepared storage tanks.

  1. Seller releases to Buyer and Buyer tank storage company the injection schedule along with the notice of readiness

(N.R) to commence injection of product to buyer’s tank.

  1. Seller issues full POP to buyer via email as typically consisting of: –
  2. a) Fresh SGS report (loading port),
  3. b) Unconditional Dip Test Authorization (UDTA).
  4. c) TSR (in Rotterdam) & BL (reference copy),
  5. d) Certificate of Origin,
  6. e) Import & Export permits
  7. f) Statement of Product availability,
  8. g) Title holder Certificate,

 

payment via MT103/TT within, Seller transfers

ownership title to buyer.

  1. Seller pays all intermediaries involved in the transaction, upon successful lift, monthly extended shipments continue

as per terms and conditions of the sales and purchase agreement contract between buyer and Seller.

2.NON-NEGOTIATE FOB TERMS & TRANSACTION PROCEDURES

  1. Buyer issues ICPO with seller procedure in response to SCO from Seller’s Mandate or Agent with Company

Registration Certificate, Company Profile (CP) and Passport of the Buyer.

  1. Seller issues Commercial Invoice of the product in Seller tanks in port of Rotterdam, Buyer signs and returns

back Commercial Invoice with official letter to extend seller’s tanks to Seller.

3 Seller sends to Buyer:

  1. Commitment Letter to Supply
  2. Injection Report (IR)
  3. Authorization to Verify (ATV)
  4. Unconditional Dip Test Authorization (UDTA).
  5. Tank Storage Receipt (TSR) with barcode and GPS Coordinates for Buyer to contact the Tank Farm to

verify the product with Tank Farm Company operator as per ATV above (Clause C) Buyer extend Seller

Tank for One Day to conduct DIP TEST & SGS in Seller Tank at Buyer’s expense Buyer submits His /Her TSR

with ATI.

  1. Seller issues 2% guarantee fee to Buyer in event that Seller fails to perform alongside with the following POP

document.

  1. Endorsed NCNDA/IMFPA by Buyer
  2. Authorization to Sell and Collect (ATSC)
  3. Upon successful Dip Test in Seller’s Tanks, Buyer takes over Seller Tank OR Seller completes injection of product

in to Buyer’s Tank and Buyer makes Payment for the product via MT103.