PROCEDURE I (TANK TO TANK INJECTION)
1. Buyer confirms seller SCO and issue ICPO with full banking information (valid for 10 days, with list of documents).
a. Copy of passport of the person authorized to sign the contract
b. Profile of the Buyer’s legal entity (Certificate of Incorporation)
c. Copy of Tax Registration Certificate.
d. Postal details.
e. details.
f. Official acceptance letter (Seller’s Procedure)
g. Product Specification (if any)
2. The Seller Issues Commercial Invoice (CI) for the available quantity in the Seller’s Storage Tank to the Buyer. The Buyer signs and return the CI to the Seller with their signed Tank Storage Agreement (TSA) to enable the Seller’s Verify and Approve his storage facilities for injection programming.
3. Seller issue the following document to buyer to conduct dip test in seller tank, document as follow:
a. Commitment to Supply
b. Certificate of Origin
c. Fresh SGS (not older 48hrs)
d. Authorization to Verify (ATV)
e. Tank Storage receipt (TSR)
f. Unconditional DTA
g. Tank Storage Receipt (TSR)
h. Injection Report
4. The Buyer Conducts Dip Test in the Seller’s Reservoir and provide Tank Details to the Seller, upon successful dip test seller and buyer signed Tank to Tank Injection Agreement (TTTIA) to commence injection of product into the Buyer’s Tank.
5. Within Twenty-Four (24) hours, Buyer issues 100% TT wire transfer payment to the Seller. The Seller transfer the title ownership to the Buyer. The Seller pays commission to all the intermediaries.
PROCEDURE II (CI DIP AND PAY)
1. Buyer confirms seller SCO and issue ICPO with full banking information (valid for 10 days, with list of documents).
a. Copy of passport of the person authorized to sign the contract
b. Profile of the Buyer’s legal entity (Certificate of Incorporation)
c. Copy of Tax Registration Certificate.
d. Postal details.
e. details.
f. Official acceptance letter (Seller’s Procedure)
g. Product Specification (if any).
2. Seller issues Commercial Invoice of product in the tanks at Port
3. Buyer signed and return the commercial invoice along with acceptance letter.
4. Seller issues ATC to buyers to obtain the following information
a. Terminal hub Number:
b. Port Access code:
c. Tank ID №:
d. GPS Coordinates:
e. Tank Operator Contact:
5. Upon obtaining the above-mentioned information seller issue the following POP documents :
a. Last SGS Report from the Seller’s tank
b. Tank Storage Receipt (TSR)
c. Injection Report
d. Unconditional Dip Test Authorization letter (DTA)
e. Authorization to Sell, and Collect (ATSC)
f. Authorization to Verify (ATV)
6. Seller issues NCNDA/IMFPA for the following document to all intermediaries involved in the Transaction and to Buyer for signing.
7. Buyer Perform Q&Q by his SGS team or equivalent in the seller tank
8. Upon successful Q&Q verification and confirmation by the seller SGS team, Buyer makes Payment for the product via MT103 and Seller Transfers Title Ownership to Buyer.
9. Buyer started injection of the product with 24hours or extend the seller tank for more days to avoid
PROCEDURE III (TANK TO TANK)
1. Buyer confirms seller SCO and issue ICPO with full banking information (valid for 10 days, with list of documents).
✓ Copy of passport of the person authorized to sign the contract
✓ Profile of the Buyer’s legal entity (Certificate of Incorporation)
✓ Copy of Tax Registration Certificate.
✓ Postal details.
2. Seller makes the final signature, notarized the contract with appropriate authorities, convert to PDF and send to buyer as final approved copy along with the following Documents:
a. Refinery Registration Certificate
b. Product Passport
c. Storage Tank Receipt
d. Copy of the Refinery’s Letter of Commitment
e. Payment Invoice of $264,000 CPA fees (to be paid by seller).
3. Buyer’s authorize her bank the disbursement of $315,000 product loading security fee for seller’s bank to enable seller commence loading of product with the shipping company.
4. Upon receipt of buyer’s security fee. Seller’s Upon seller’s bank confirmation of the TT payment of product loading security fee for the first trial shipment paid and confirmed, seller loads product within four (4) international working days and sends POP documents in buyer’s company name to buyer’s bank (11 sets bellow):
a. Certificate of Incorporation
b. Act of Transfer
c. Commercial Invoice
d. Company Taxpayer’s Certificate
e. Fresh SGS Report
f. Tank Receipt
g. Q88 and Quality Specification
h. Bill of Lading.
i. Certificate of Non-Wooden
j. NOR—Notice of Readiness
k. ETA—Estimated Time of Arrival.
5. Buyer notifies seller by official written notice of his bank receiving seller’s POP documents while seller sends to buyer the registered hard copy of the contract through courier service within four (4) days. Shipment commences as scheduled in the contract and upon arrival of the cargo at the discharge port, buyer’s inspection team carries out CIQ, SGS or equivalent inspection to ascertain quality and quantity.
6. Product is discharged after successful inspection into buyer’ s storage facility, then buyer’ s bank releases payment for total value of the product to seller’ s bank, and commissions to buyer mandate bank within six (6) banking days by TT MT 103/MT 107. Seller transfers
title of the product to buyer.
7. Second and succeeding shipments continue.