Refinery Oil and Petroleum Products Procedure For FOB Rotterdam / Houston

Seller Working Procedure For FOB Rotterdam / Houston

1.Buyer sends ICPO on receipt of Seller's Soft Offer along with Tank Storage Agreement(TSA) as proof of storage availability.

2.Seller issues commercial invoice/CI, for the available quantity in the storage tank to Buyer, Buyer Signs and returns to Seller with scan passport copy NCNDA/IMFPA signed by all buyer groups with commission structures.

3.Seller leases the Buyer's tank for 2 days only and buyer lease for 3 days and commences with the injection of the First Month Shipment Quantity from the Refinery Reservoir through the Pipeline into the Loading Port Storage Tanks or Tank to Tank on receipt of the Tank complete reference codes/GPS coordinates. NB: Minimum of Five (5) days Tank validity is required.

4.Seller issues Complete DTA attached with fresh SGS Report and Tank receipt to Buyer, Buyer order SGS to conduct Dip Test of the product in the Seller's Tank on Buyer expenses.

5.Upon successful Dip Test, sellers inject the fuel into buyer lease Storage Tank and sellers submit the full injection report to the Buyer.

6.Buyer makes 100% 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 the buyer's payment.

7.Seller issues draft SPA to the buyer to review for R&E monthly deliveries. Do issue your ICPOupon acceptance of the above transacting terms and procedures

Comments

Post a Comment

Popular posts from this blog

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...
Read more

Refinery Oil and Petroleum Products Procedure For DIP & PAY FOB - Seller and Buyer Jointly Pay To buyer tank Farm

 Procedure For DIP & PAY FOB - Seller and Buyer Jointly  Pay To buyer tank Farm 1.Buyer issues ICPO, with TSA and company registration certificate. 2.Seller issues Commercial Invoice (CI) to buyer, buyer signs and returns back to the seller with NCNDA/IMFPAsigned by all buyer groups with commission structures. Seller provide the below documents to the buyer:- a.Certificate of Incorporation b.Certificate of Origin of the Product c.Statement of Product Availability d.Product Quality Passport (Dip Test Result) e.Commitment/Assurance letter to Supply f.Tank Storage Receipt (TSR) GPS coordinates, location Tank Number, Bar Code. g.Notification Of Readiness (NOR) h.Authorization to sell and collect (ATSC) 3.Seller logistics team verifies the buyer’s provided tank farm and pay 3 days on buyer’s tank farm and after confirmation of the funds by buyer’s tank farm, Buyer pays the remaining 2 days to his Tank Farm Company to obtain 5 Days TSR, to show both parties proof of Readiness. G...
Read more

Refinery Oil and Petroleum Products Procedure For SPOT - DIP & PAY FOB - SELLER TANK EXTENSION

Procedure For SPOT - DIP & PAY FOB - SELLER TANK EXTENSION 1.Buyer issues ICPO to the Seller upon acceptance of Seller mandate’s SCO Along with buyer TSA 2.Seller issues commercial invoice CI, for the available quantity in the storage tank to Buyer, Buyer Signs and returns CI to Seller and buyer parties sign the NCNDA/IMFPA and send it to the seller. 3.Seller sends the following documents to the Buyer:- b)Sellers Tank Receipt GPS coordinates, location Tank Number, Bar Code a)Injection Report b)Sellers Tank Receipt GPS coordinates, location Tank Number, Bar Code e)Authorization to Sell and Collect ATS d)Product Passport e)Notification of Readiness (NOR) 4.Buyer extends Seller’s tank for 2 days, to facilitate the DTA, for a Dip Test and Buyer pays and conducts DT in Seller's tank after 2 days validated. 5.After a successful Dip Test DT, Buyer provides Tank details and submits NOR to prepare for an injection of the product into Buyer's leased tanks. 6.Seller shall immediately ...
Read more