Refinery Oil and Petroleum Products Procedure For TTO

 Seller Working Procedure Of TTO

1.Buyer issues official ICPO to the exact quantity in the sanitized MOU.

2.Seller issues original MOU.

3.Buyer countersigns MOU and forwards back.

4.Upon the receipt of countersign original MOU from the buyer, the seller emails to the buyer the listed document issued in the name of the initial buyer as stated below:

a)Product Passport

b)Certificate of Origin

c)Statement of availability & commitment to supply

d)Tanker Vessel Q88 Document

e)Cargo Manifest

f)Invoice for title transfer

5.Upon the receipt of the documents, the buyer verifies the availability of the production of the high sea and makes payment within 48 hours for the title takeover which is 5-7% of the total product cost.

6.Upon seller receipt of the title takeover payment, seller orders for re-route to buyers desired port, transfers the title to the potential buyer’s company’s name and also re-issues all other outstanding documents to the potential buyer’s company’s name.

7.Vessel arrives at the discharge port and buyer carries out the CIQ/SGS inspection and upon a successful inspection, buyer pays by MT103 T/T for the full product to the seller


NOTED: THOSE BUYERS AGREED ON THE BELOW PROCEDURE THEY ARE HIGHLY WELLCOME.

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