1-A: FOB (SPOT / DIP & PAY) AT NEGOTIABLE PRICES:
1. Buyer issues ICPO together with copy of passport and Tank Storage Agreement (TSA).
2. Seller issues Commercial Invoice (CI), ICC Warning Letter.
3. Buyer returns signed Commercial Invoice with NCNDA/IMFPA signed by all intermediate Buyer groups at agreed commission structures.
4. Seller programs logistics and timeframe on product injection at confirmable prepared storage source and issues to Buyer the following Partial POP official document copies: -
- SGS copy (<7-Days Old) inspected in Rotterdam/ Russia.
- Copy of Injection Report Shore Tank Rotterdam/ Russia.
- Copy of Certificate of Origin, - Copy of Registration Certificate,
- Copy of Statement of Product Availability,
- Authorization to Sell and Collect (ATSC),
- Attestation/Authority to Verify (ATV).
5. After buyer’s confirmation on the above, seller injects the product to prepared storage and issues unconditional Dip Test Authorization (DTA) to buyer, upon satisfactory to Dip Test (at buyer’s expense), seller transfers Title of Ownership to buyer accompanied with submission of all shipping documentations.
6. Buyer makes payment by MT 103 or TT-Wire Transfer for the total product and lifts the product and Seller pays all intermediary involve in the transaction.
1-B: FOB (SPOT / DIP & PAY) AT NEGOTIABLE PRICES:
1. Buyer issues ICPO endorsed with banking details and company registration certificate and data page of buyer’s Passport or any I.D.
2. Seller issues Commercial Invoice (CI) Buyer signs and returns back to seller with completed NCNDA / IMFPA.
3. Buyer’s bank issues Proof of Funds (POF) swift to seller’s nominated bank (bank to bank).
4. Seller issues below Partial POP materials to Buyer/Buyer’s bank:
- TSA, TSR & SGS Report,
- Copy of Incorporation & Registration Certificates,
- Copy of Statement of Availability of the Product,
- Product Storage Location/GPS Coordinates,
- Authority To Sell & Collect,
- Attestation To Verify,
- Injection Report,
- Unconditional Dip Test Authorization (UDTA).
5. Buyer conducts Dip test on the product and makes the payment for the total value of product injected into the tanks through the means of MT103/23 and final payment via MT103 or TT-Wire upon transfer of the Title of Ownership to the Buyer.
6. Seller pays all intermediaries involved in the transaction, upon successful lift, monthly extended shipments continue as per terms and conditions of the sales and purchase agreement contract between buyer and Seller