Welcome to Neom Star Petroleum Trading in the UAE! We are pleased to meet your petroleum product needs with competitive prices and smooth procedures, through partnerships with some of the most reputable oil refineries. We ensure fast processing with available quantities in Houston and Rotterdam.
In this link nmsgt.com/blogs, you will find strict procedures from 3-4-5, which also include the FOB/CIF system and TTT-TTV-TTO loading.
1. BUYER issues LOI with full company KYC including: Company Details, Contact Details for Signing Authority, and Passport Facing Page.2. SELLER issues Soft/Full Corporate Offer SCO/FCO) including: Full Company Details, Contact Details for Signing Authority, Passport Facing Page, and Company Banking Details.3. BUYER accepts terms and issues Irrevocable Corporate Purchase Order (ICPO) addressed to the SELLER. ICPO MUST include SELLERâ??S procedures on BUYERâ??S official company letterhead.4. Included with ICPO, BUYERâ??S Bank issues a BCL/POF/RWA bearing the SCO REF Number: SCOKVPL0524001 a. BUYER authorizes SELLER and/or SELLERâ??S Financial Service Provider to verify BCL/POF/RWA via BUYERâ??S Bank.
5. SELLER issues PPOP upon successful verification of BUYER bank BCL/POF/RWA. Documents included in the PPOP document package are:a. SELLER Bill of Lading b. Loaded SGS Report Q&Q -(Notarized).c. Chief Officers Ullage report-(Notarized) d. SELLER Charter Party Agreement (CPA) e. Product Passport (product analysis report) -(Notarized) f. Certificate of Origin -(Notarized) g. Statement of Product Availability -(Notarized) h. Commitment and Assurance Letter to supply -(Notarized) i. Authority to sell and collect (ATSC) -(Notarized) 6. End-to-end procedure after issuing PPOP is NOT expected to exceed TEN (10) working days, including 96 hours for vessel loading laycan. 7. Included with PPOP, SELLER issues Commercial Invoice (CI), and NCNDA / IMFPA to BUYER. 8. The BUYER signs and returns the executed documents to the SELLER. If the documents are not executed in a timely fashion. The SELLER may terminate this agreement without prejudice to any rights or remedies of the SELLER. Notice will be in writing. 9. After safely receiving the PPOP and returning the executed CI and documents. The BUYER MUST issue either MT 700 DLC or MT 799 BLOCKED FUNDS to the full value of commercial invoice amount. 10. Additionally, the BUYER MUST present his vessel for loading in the nominated port and be ready within 24 Hrs to load the full cargo. When requesting the UDTA to be issued, BUYER MUST provide the following details to the SELLER: a. VESSEL NAME
b. VESSEL Q88 c. Vessel Agent full contact details 11. After fund instruments and vessel nomination details are received. The SELLER will issue Unconditional Dip Test Authority (UDTA) to the BUYER. SELLERâ??S agent will contact the BUYERâ??S agent and program the vessel for ShipTo-Ship (STS) loading within 24 hours. 12. BUYER loading LAYCAN will commence 24hrs after the UDTA is issued to the BUYER. BUYER has 96 hours Laycan to finish loading the vessel. CIN: U74999DL2016PTC298417 13. BUYER Dips Tanks prior to vessel berthing. BUYER obtains fresh SGS Quantity and Quality report. 14. After successful Dip Test and Q&Q report. BUYER instructs account manager to make full payment of the full value of commercial invoice via SWIFT MT103 to SELLERâ??S nominated accounts.
EN590 FOB TTV Seller Procedure
Origin : Kazakhstan
Loading port: Singapore port
UNIT PRICE : USD 490/MT
PAYMENT TERMS : MT103
TRANSACTION TERM : FOB
1. Buyer accepts seller working procedure and issue ICPO
2. Seller's issues commercial invoice (CI), Buyer signs and returns back commercial invoice.
3. Seller issue TSR with GPS coordinate to Buyer Company,
4. Buyer contacts the Seller's storage facility for tank extension to enable Buyer approval to gain access to the facility and execute the Quality & Quantity Inspection in Seller Tank Farm for FRESH Analytical Report/Result by SGS. ( Note* One day extension fee is 78,000 usd and will be deduct when buyer is paying total amount )
5. After successful DIP test, (NCNDA/IMFPA) will be signed by all parties.
6. Seller injects product into Buyer's vessel or injects into Buyer's tanks Buyer or buyer take over the storage tanks, within maximum 48 hours Buyer pays via MT 103/TT for the spot transaction and seller issues all export documents to buyer.
7. Upon conclusion of first lift transaction seller pays all intermediaries involved in the Transaction and proceeds with the signing of contract with Buyer.
PLEASE NOTE: BUYER MUST HAVE VOPAK ACTIVE ACCOUNT.
PRODUCTS: EN590
300 000 MT
PRICE: 610$(INCLUDED FOR BUYER SIDE AND SELLER SIDE)
PORTS: ROTTERDAM
PROCEDURES FOR VOPAK TERMINALS:
1) Buyer Sends CIS and ICPO of their purchasing product to Seller for verification and processing:
2) The seller submit buyer files to Vopak Terminal Manager.
3) Vopak Terminal Manager send Vopak Agreement to buyer through the seller. Buyer within 48 hours sign and return the Vopak Agreement through the seller.
4) Buyer finalizes the Vopak Terminal Protocols with the Vopak Terminal Manager, and obtain the following and submit the same to the seller as listed below.
o Vopak Barcode o Vopak Registration
information. o Vopak Reference Code
4b) Format of Authorization Form to accompany the information. LETTER OF AUTHORIZATION: We, (Buyer Name), with registered office, at (Address). represented by Mr.________ with Passport number________. Owner of Barcode code at Royal Vopak Rotterdam, with contract reference number: NB: Immediately buyer complete the above process and receive Vopak Reference through Vopak Botlek Europoort Terminal Manager, buyer will have access to communicate directly to Vopak Manager with the help of the Reference code assigned. 5) The seller, sends Cl for Buyer's endorsement. Buyer signs the CI and retune back within 24 hours of receiving alongside side with Sign Letter of Authorization.
6) The seller gives Buyer Full POP documents along with fresh SGS (less than 48 hours onetime official confirmation mail from SGS official).
Fresh SGS Report or Saybolt (Not later than 24 â?? 72 hours)
Tank Storage Receipt (TSR) with GPS Coordinates of where the Tanks/Vessel are located.
Injection Report Agreement
Authorization to Sell
Authorization to verify the product in the tank (ATV)
Country Certificate of Origin
Approved Dip Test Authorization (DTA)
Availability of Product,
Commitment to Supply
7) After verification of full POP by buyer, injection begins.
8) Upon completing the Injection, the seller transfers title to buyer.
9) Buyer makes full payment after via MT103, the seller pay commission to the intermediaries.
Rigwise Standard Cif Procedure
DIP & PAY
SINGAPORE, FUJAIRAH, ROTTERDAM and HOUSTON
1. BUYER issues LOI with full company KYC including: Company Details, Contact Details for Signing Authority, and Passport Facing Page.
2. SELLER issues Soft Corporate Offer (SCO) including: Full Company Details, Contact Details for Signing Authority, Passport Facing Page, and Company Banking Details.
3. Upon Acceptance of SELLER'S SCO/FCO, BUYER issues Irrevocable Corporate Purchase Order ICPO with complete Banking References, Company Profile (CP), Company Registration, Copy of Buyer's Authorized Signatory's Passport and RWA Letter signed by two of buyer's bank officers and issued to seller's name, which stipulates that Buyer is RWA to issue financial instrument (DLC) for payment of goods ordered.
4. On receipt of BUYER'S ICPO and RWA Letter, seller issues (amendable) draft contract (SPA) and NCNDA/IMFPA completed by Seller's Mandate/Broker.
5. BUYER returns to SELLER the signed and sealed SPA along with the IMFPA/NCNDA completed and signed by BUYER, BUYER'S Facilitator/Buyer Mandate Group and all Intermediaries.
6. SELLER issues approved, countersigned and sealed SPA which now incorporates the NCNDA/IMFPA as an Annexure within the SPA document. Both BUYER and SELLER lodge the Legalized SPA contracts in their respective Banks.
7. SELLER issues PPOP, .
8. BUYER Verifies PPOP and is satisfied with the outcome, issues and activates an inoperative, transferable/Non-Transferable DLC as a guarantee instrument. (CHOICE IS BUYERS)
9. SELLER provides FULL PROOF OF PRODUCT,
10. Ship arrives at the destination port and a Q&Q inspection is conducted by a nominated inspection agency such as SGS or equivalent others on the goods and checks through the Bill Of Lading (BL) and Commercial Invoice. Upon Satisfactory Inspection Report, the Buyer Releases Payment via MT103/TT to SELLER'S Bank (100% Payable for Each Shipment) within 3 banking days.
11. Documents from shipping on board Vessel. (To Be Issued after Loading)
12. After Confirmation of Receipt of Payment to SELLER and INTERMEDIARIES (Commissions as per IMFPA) the Seller shall instruct the Ship's Captain to discharge the Cargo.
13. SELLER sends the Title Ownership documents to BUYER.
PRODUCTS PRICES AND LIFT ABLE QUANTITIES (FOB)
DIESEL OIL EN590 -10PPM LIFT ABLE QUANTITY
FOB: Minimum Quantity: 100,000 Metric Tons per Month, Maximum Quantity: 300,000 Metric Tons Lift able.
FOB Price: Lowest seller price is $510 and the highest seller price is $575. Loading Ports: Rotterdam |Jurong & Fujairah Ports
Commissions: $10, Seller side - $ 5.00 per Metric Tons / Buyer side - $ 5.00 per Metric Tons, Payable by Seller
FOB TRANSACTION PROCEDURE FOB VOPAK TERMINALS DIP & PAY
ICPO>TSR/TTIA/CI/Injection schedule signed off by Tank storage farm leads to release of full POP. Therefore, you have to have a good relationship with your buyer or pay for the requisite number of days TSR that will get your tank storage to sign off on the relevant document.
