All the Products D2 Mazut M100 D6 JP54 A1 with same procedure
REFINERY TRADING PROCEDURE
1. Sellerâ??s Official Representative issues Soft Corporate Offer (SCO), and buyer issues Irrevocable Corporate
Purchase Order (ICPO), Company Profile (CP) with a valid means of identification.
2. Seller verifies and issues Commercial Invoice and Sales & Purchase Agreement/Draft Contract to Buyer. Buyer
countersigns the document(s) and return to seller with their signed Tank Storage Agreement (TSA) highlighting
sellerâ??s details and assigned allocation.
3. Upon successful verification and approval of buyerâ??s TSA, Seller issues:
a) Final notarized version of the Commercial Invoice (CI)
b) Dip Test Authorization document (DTA).
c) ATV to buyer (for their nominated logistics company to verify the product at the port and provide buyer with
the cordinates, tank number, location, full allocation status details including online tracking details to confirm the
verification and complete all required columns of the Dip Test Authorization document.
4. Buyer proceeds to conduct dip test in sellerâ??s Tank, upon return of the fully completed and signed DTA document
by buyer and their logistic company.
5. Seller Approves the DTA and attach with fresh SGS Report and NCNDA/IMFPA Form. Buyer orders their SGS to
conduct Dip Test of the product in the Seller's Tank at Buyer's expense.
6. Buyer conducts dip Test in seller tank and immediately Inject the product into their leased ex shore tank or vessel
and seller issues Full POP to buyer and endorses NCNDA/IMFPA dully signed by all Parties.
7. Buyer makes payment by MT103 or TT wire transfer for the total product available.
8. Buyer Lift the product and Seller Pays all intermediaries Involved in the Transaction.
Note:
· The trading procedure is fixed for the spot lift.
· Buyers who have existing contracts with our seller(s) are to proceed with the trading terms agreed in their
Contract/subsequent lift.
· Any logistics company contracted by the buyer must have full legal and operational status required by the Port
Authorities without which they cannot be permitted to verify and provide necessary details to buyer in addition to the
avoidance of contamination of the product Q&Q.
