Refinery Oil and Petroleum Products Procedure For SPOT-DIP & Pay FOB - DTA

Working Procedure For SPOT-DIP & Pay FOB - DTA

1.Buyer issues ICPO, with TSA and company registration certificate.

2.Seller issues Commercial Invoice (CI) to buyer, buyer signs and returns back to seller withNCNDA/IMFPA signed 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.DTA to be signed by the buyer and its logistic tank farm.

h.Notification of Readiness (NOR)

3.Buyer returns the signed DTA, the seller confirms the signed DTA by the buyer and its tank farm.

4.Seller issues the following POP documents to Buyer:

a.Injection report Shore Tank Rotterdam / Houston

b.Dip test authorization letter (DTA) - Unconditional

c.Authorization to sell and collect (ATSC)

d.Fresh SGS Report Inspected in Rotterdam / Houston Shore Tanks.

e.(ATV) Authorization to Verify

f.Injection Program Schedule

5.Buyer conducts Dip test on the product and makes the payment for the total value of the product through the means of MT103- TT.

6.Seller pays all intermediaries involves in the transaction based on NCNDA/IMFPA agreement.

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