Refinery Oil and Petroleum Products Procedure For FOB Rotterdam

 Transection FOB Prodcedure Rotterdam

1.Buyer confirms SCO and issues an official ICPO with banking details.

2.Seller issues MOU / Commercial Invoice for buyers review and signing.

3.Buyer signs the MOU and commercial invoice and returns to seller and seller issues thePOP Documents as shown below:

i.Vessel Laden document,

ii. Product Passport,

iii. Cargo Manifest,

iv. Bill of Laden,

v.Title transfer deposit invoice,

vi. Product origin Certificate.

4.Buyer conducts due diligence on the documents for product availability and vessel arrival at Rotterdam Port, then makes a deposit for the Vessel Take over Via T.TWire to Shipping company for routing of the vessel to Buyers port for Q&Q check.

5.Buyer contacts the shipping company to re-direct the route of the vessel Tanker to buyer's destination port and seller transfer title to buyer's name. Upon the arrival of the vessel at the buyer’s discharge port, the Seller issues an Authorization to Board the Vessel byBuyers team with an SGS approval Letter copy from the SGS company to board the vessel and conduct Q&Q Inspection.

6.Upon the successful Inspection according to the contract signed with the SGS report, Sellertransfer the product into Buyers Tank at Buyers port, and Buyer makes the payment for the full product via TT Wire or MT103.

7.Seller issues buyer the remaining Proof of Product Documents for the monthly contract shipments.

8.Buyer issues their Bank Guarantee SBLC (MT760) to seller’s Bank guarantee the monthly shipment.

9.Monthly shipment commences to the buyer’s discharge port and is stipulated in the contract.

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