Refinery Oil and Petroleum Products Procedure For FOB Tank to Vessel

Procedure For FOB Tank to Vessel

1.Buyer accepts End seller’s SCO and issues ICPO.

2.End Seller issues commercial invoice (CI). Buyer Signs it and returns to Seller

together with CPA.

3.Seller provides below listed PPOP along with unconditional Dip Test

Authorization:

a.Product passport (Product Analysis report)

b.Irrevocable commitment to supply.

c.Tank Storage Receipt (TSR).

d.Tank to Vessel Injection Agreement (TTVIA) to be signed by seller Tank Farm

Company

4.Buyer conducts Dip Test in Seller’s tanks, at his own expense.

5.NCNDA / IMFPA is Signed by buyer, Seller & Intermediaries.

6.Buyer provides Q88) for the seller to proceed for Tank to Vessel injection and

provide the buyer with the injection report of the Product in the Buyers Vessel.

7.Buyer makes the payment for a total cost of product injected into Vessel via MT103.

Seller transfer title ownership to Buyer with all export documents required for the

transaction.

8.Upon conclusion of first lift transaction seller pays all intermediaries involved in

the Transaction and proceeds with the signing of a contract with Buyer.

If the above terms and conditions are acceptable by your buyer they may proceed

and send in their official documents of ICPO and CP for verification and processing

of the CI.

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