TRANSACTION PROCEDURE: FOB CI DIP & PAY:
1. Buyer issue ICPO addressed to Seller's representative with Seller's procedure incorporated on it, buyer's company details, banking details, passport copy with letter confirming readiness, wiliness and capability to carry out the transaction.
2. Seller receives and verifies buyer's ICPO with other buyer's details. When satisfy with the verification, seller issue Commercial Invoice (CI) for the product in seller's tank in port terminal for buyerâ??s review and endorsement.
3. Buyer review, endorse and return the endorsed Commercial Invoice (CI) to seller, along with buyerâ??s Tank Storage Agreement (TSA) from buyerâ??s Logistic Company.
4. Seller verifies the genuineness and authenticity of the TSA. Seller issue to buyer the under listed PPOP documents;
Product Passport
Commitment Letter to Supply
