Refinery Oil and Petroleum Products Procedure For FOB Rotterdam

Seller FOB Working Procedure for Rotterdam

 1.SELLER ISSUES SOFT CORPORATE OFFER TO BUYER COMPANY WITH THE SELLER ACCEPTABLE TERMS AND

PROCEDURE OF TRANSACTION. BUYER ISSUES IRREVOCABLE CORPORATE PURCHASE ORDER (ICPO) WITH FULL

BANKING DETAILS AND TANK STORAGE AGREEMENT TSA.

2.SELLER ISSUES COMMERCIAL INVOICE. COMMERCIAL INVOICE TO BE COUNTERSIGNED BY BUYER & BUYER’S

STORAGE COMPANY AND RETURN BACK TO SELLER ALONG WITH OFFICIAL COMPANY LETTER OF ACCEPTANCE

TO THE TERMS AND PROCEDURE OF THE TRANSACTION.

3.SELLER PROCEEDS WITH ACCREDITATION AND LEGALIZATION OF COMMERCIAL INVOICE AND SEND TO BUYERTHE LEGALIZED & CERTIFIED COMMERCIAL INVOICE WITH THE FOLLOWING PROOF OF PRODUCT.

(A) SGS REPORT FOR QUALITY AND QUANTITY AT SHORE TANK NOT OLDER THAN 72 HOURS

(B) PRODUCT CERTIFICATE OF ORIGIN

(C) PRODUCT INJECTION REPORT AT SHORE TANK

(D) TANK STORAGE RECEIPT WITH FULL GPS COORDINATES

(E) UNCONDITIONAL DIP TEST AUTHORIZATION LETTER

(F) AUTHORIZATION FOR PHYSICAL VERIFICATION OF PRODUCT AT SELLER’S TANK.

(G) AUTHORIZATION TO SELL AND COLLECT

(H) NCNDA-IMFPA AGREEMENT

4.UPON BUYER'S SUCCESSFUL Q&Q/DIP TEST RESULTS CONSISTENT OF THE SPECIFICATION ON THE CI

(COMMERCIAL INVOICE). BUYER PROVIDES TANK DETAILS AND AUTHORITY TO INJECT; SELLER PROCEEDS WITH

INJECTION OF PRODUCT TO BUYER TANK AND SELLER ISSUES PRODUCT INJECTION REPORT FOR THE QUANTITY

INJECTED INTO BUYER’S TANK.

5.BUYER PAYS THE SELLER FOR THE FULL INJECTED PRODUCT BY SWIFT MT103 AND SELLER TRANSFERS FULL TITLE

OWNERSHIP TO BUYER WITH ALL EXPORTATION DOCUMENTS REQUIRED BY BUYER FOR THE TRANSACTION WITHIN

24 HOURS.

6.SELLER PAYS COMMISSION TO ALL INVOLVED MANDATES INTERMEDIARIES VIA WIRE FUNDS TRANSFER MT103

/TT IMMEDIATELY UPON RECEIPT OF BUYER'S PAYMENT AS PER AGREED AND SIGNED NCNDA+IMFPA, AND

FOLLOWS TO EVERY BUYER'S LIFT IN THE FUTURE BASED IN COMMERCIAL INVOICE (CI) AND SPA/CONTRACT SIGNED

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