Product: EN590 10PPM
- Quantity: 50,000 MT
- Price: $680 Net per MT FOB Fujairah (Tank to Tank or Tank to Vessel)
FOB Procedure DIP & PAY Fujairah:
1. Buyer issues ICPO with full banking information along with full KYC.
2. Seller issues Invoice (CI) for the available quantity in the Sellerâ??s Storage Tank to the Buyer. Buyer signs and returns the CI to the Seller.
3. Buyer issues MT199 as proof of funds, CPA/TSA to Sellers account from prime 50 top bank/ bank to bank verification (companythat will send ICPO must be the same that will issue the MT 199, no JVâ??s with exits, or other agreement with end buyers accepted).
4. Seller presents the following documents to the Buyer to conduct Dip Test in Sellerâ??s tank:
A. Unconditional Dip Test Authorization (DTA);
B. TSR;
C. Certificate of Origin.
5. Buyer conducts Dip Test in the Sellerâ??s Tank and upon successful Dip Test immediately provides the Seller with Q88 or valid verifiable TSR.
6. Seller signs NCNDA/ IMFPA with intermediaries for non disclosure and payment if commissions to be paid out immediately upon receipt of payment from the buyer.
7. Buyer issues 100% MT103/TT Wire Transfer payment to the Seller.
8. Seller signs Tank To Vessel Injection Agreement (TTVIA) or tank to tank (TTIA) to commence injection of product into the Buyerâ??s vessel or TSR FROM BUYER TO COMMENCE INJECTION OF PRODUCT TO BUYER'S TANK with Full coordinates.
Seller transfers the Title of the product Ownership to the Buyer.
9. Buyer and Seller sign a long term contract for the consistent supply for a mutually agreeable quantities.
