Jet fuel A1
$84/$80 - 1m barrels.
TANK TO VESSEL(TTV)
TANK TO TANK(TTT)
TRANSACTION PROCEDURE REFINERY FOB PROCEDURE ROTTERDAM & HOUSTON ONLY!.
1. Buyer issues official ICPO addressed to the refinery or representative with passport data page and certificate of incorporation.
2. Seller issues commercial invoice (CI), buyer signs and returns the signed invoice to the seller.
3. Seller issues to the buyer the partial proof of product documents
(a) ATSC- Authority to sell and collect.
(b) DTA- Dip Test Authorization.
(c) Product Passport
(d) Statement of product availability duly signed.
(e) Commitment letter to supply duly signed.
(f) ATV- Authority to verify the existence of product via email or phone call.
(g) Certificate of Origin
(h) US Attorney Escrow Account for Payment of Five days Tank Extension.
4. Buyer pays for the five days extension into the Seller's US attorney escrow account for the extension of sellers tanks. Seller confirms payment and notifies their tankfarm.
5. Buyer sends Dip test authorization to the seller tank farm for endorsement and receives TSR (for five days) including the full GPS coordinates of the tank, Hub Numbers, terminal access permit and dip test is conducted immediately with Buyer SGS report. Seller sends the properly endorsed NCNDA/IMFPA to all the intermediaries in the transaction.
6. After a successful dip test in seller tanks, Buyer take over the seller tank or seller inject into buyer's Vessel/Tank and buyer conducts its DIP TEST inspection for Q&Q of the Petroleum products aboard Vessel/Tank.
7. Buyer after a successful Q &Q Dip test on the product, the buyer makes the payment for the total value of the products injected into the Vessel/tanks through the means of MT103-TT.
8. Upon seller receives the payment for the products from the buyer, the seller issues to the buyer the title ownership of the product and all exporting documents of the product.
9. The seller pays all intermediaries involved in the transaction.
