FOB TRANSACTION PROCEDURES
1. BUYER SENDS ICPO TO THE SELLER FOR VERIFICATION.
2. UPON DILIGENT CHECK BY THE SELLER, THE SELLER ISSUED A SPA AND ORIGINAL CI (COMMERCIAL INVOICE)
3. SELLER WILL INVITE BUYER AND HIS LAWYER TO COME TO SELLER OFFICE IN SINGAPORE TO SIGN SPA AND ORIGINAL CI.
4. BUYER SHALL TRANSFER 5% DEPOSIT OF THE TOTAL CARGO INTO THE SELLERâ??S ACCOUNT BEFORE COLLECTING THE OIL SAMPLE AT THE REFINERY.
5. SELLER TO GIVE INVITATION LETTER WITHIN 48 HOURS FOR BUYER TO DO DIP TEST AT THE STORAGE FACILITY AT TERMINAL . SHOULD THE SPECIFICATIONS BE WITHIN RANGE AS OF SPA, THE BUYER IS TO PROCEED WITH THE DEAL AND THE DEPOSIT IS NON-REFUNDABLE. SHOULD THE SPECIFICATIONS ARE NOT WITHIN RANGE AS OF SPA, THE DEPOSIT WILL BE FULLY REFUNDABLE AND WITH A PENALTY FINE OF 5% OF THE DEPOSIT VALUE TO THE BUYER'S BANK ACCOUNT WITHIN (24) HOURS.
6. SHOULD THE BUYER DECIDE TO TERMINATE AGREEMENT AT ANY POINT OF TIME AFTER THE DIP TEST IS DONE, WITH THE CARGO SPECIFICATION IS WITHIN THE RANGE INDICATED IN AGREEMENT, THE DEPOSIT SHALL BE FORFEITED.
7. BUYER IS TO PROVIDE THE VESSELâ??S Q88 TO SELLER AFTER COLLECTION OF OIL SAMPLE WITH SGS INSPECTION RESULTS SATISFACTORY.
8. SELLER/BUYER SHALL AGREE AND CONFIRM THE LOADING DATE AND CONFIRM THE Q88 OF THE LOADING VESSEL FOR THE TRANSFER OF THE CARGO TO THE BUYERâ??S VESSEL.
9. THE PRE-APPROVED BUYERâ??S VESSEL SHALL BERTH ON THE APPOINTED DATE AT THE TERMINAL AND THE BUYER SHALL IMMEDIATELY CONDUCT A FINAL DIP TEST. UPON THE SUCCESSFUL TEST RESULT, THE LOADING HOSE SHALL BE CONNECTED TO THE VESSELâ??S TANK MANIFOLD. PAYMENT FOR THE AMOUNT OF 50% OF THE TOTAL CONTRACTED NOMINAL QUANTITY SHALL THEN BE MADE INTO THE SELLERâ??S ACCOUNT ON THE SAME DAY BEFORE THE END OF THE DAYâ??S BANKING HOUR. UPON CONFIRMATION OF THE RECEIPT OF THE 50% PAYMENT INTO THE SELLERâ??S ACCOUNT, THE LOADING OF THE CARGO SHALL COMMENCE. THE BALANCE 45% PAYMENT AMOUNT SHALL THEN BE MADE AND UPON ITS CONFIRMED RECEIPT INTO THE SELLERâ??S ACCOUNT BEFORE THE VESSEL DEPARTS FROM THE LOADING TERMINAL.
10. RESPONSIBILITY FOR THE CARGO SHALL BE THE BUYERâ??S FROM THE TIME THE DISCHARGE HOSE IS DISCONNECTED FROM THE VESSELâ??S MANIFOLD FLANGE UPON THE COMPLETION OF THE LOADING OF THE CARGO.
11. SELLER SHALL PROVIDE THE BUYER WITH THE FOLLOWING DOCUMENTS TO COMPLETE THE TRANSACTION:
a. COMMERCIAL INVOICE FOR THE EXACT AMOUNT CORRESPONDING TO THE FINAL LOADED QUANTITY OF THE CARGO
b. CERTIFICATE OF ORIGIN PLUS THREE (3) COPIES COUNTER SIGNED BY THE LOCAL CHAMBER OF COMMERCE OF COUNTRY OF ORIGIN
c. RELEVANT CLEARANCE AND/OR PERMIT CERTIFICATION/DOCUMENTATION NEEDED FOR THE DEPARTURE OF THE VESSEL
Ready EN590 , FOB ROTTERDAM , 100-200,000 MT price gross usd$670/ net usd$660 comission usd$10 ( buyer side $5/seller side $5 ) dip and pay 100% no payment whatsoever before success dip test cargo 1. BUYER issues ICPO after receiving SCO 2. SELLER issues SPA and Commercial Invoice (CI). BUYER Signs CI and returns to the Seller with the TSA/CPA and information letter issued by bank buyer 3. SELLER issues to the BUYER below documents: a) Official invitation letter top table meeting and inspection cargo and document b) Allocation Certificate. c) Product analysis Report d) ATV ( authorization to verify ) there is endors by port authority and tank storage company e) Injection reports f) DTA already endorses by the owner of the cargo and tank storage company , port authority g) Pass permit issued by port authority to enter and invitation letter by tank storage company for enter do dip test h) Clearn code i) SGS report tank injection j) TSR (tank storage receive) k) Authorization to sell and collect l) Statement of product availability m) Commitment letter to supply o) Certificate of origin 4. Sellerâ??s bank approves signed DTA along with FRESH SGS Report to BUYER to conduct Dip Test in Sellerâ?? sâ?? vessel or Tank storage 5. Buyer conduct dip test cargo in Sellerâ?? sâ?? vessel or Tank storage 6. Buyer succes dip test cargo buyer pay 100% total cargo via TT WIRE MT103 7. SELLER Change title of the product in BUYER name 8. Seller pays comission imenditiary 9. Continue process transaction long term
SPOT DEAL FOB PROCEDURES FOR ROTTERDAM. 1. Buyer issues IPO in buyer company letterhead and buyer details. 2. Seller issues commercial invoice for buyer to buyer to review sign and return to seller within 48 hours with their Tank Storage signed Agreement (TSA) or CPA 3. Seller issues below Partial Proof of Product documents (POP) as below: a) Commitment to supply. b) Authorization to Sell and Collect (ATSC). c) Authorization to Verify. d) Product Passport. c) Certificate of Origin. 4. Buyer rents storage tank in Rotterdam and issue tank storage receipt and notice of readiness to receive the products in buyer's rented tanks or vessel details with NOR and ATI. 5. Seller notarizes the commercial invoice and ship product to Rotterdam. Upon arrival, injects product into buyer's rented tanks in Rotterdam or vessel and issue unconditional dip test authorization. 6. Upon confirmation of the quantity and quality of the product through SGS or its equivalent, buyer makes payment for the product via MT103/TT to seller's provided bank account and simultaneously seller transfers title of the product to the buyer. 7. Seller pays commission within 48 hours by swift MT103 to all intermediaries as signed NCNDA/IMPFA SOP to be followed strictly, Commissions 10$, 1:1. Please WhatsApp me for more details.
SPOT DEAL FOB PROCEDURE FOR SINGAPORE TANK 1. Buyer issues ICPO which must be in buyer company letterhead, company, and buyer bank details. 2. Seller verifies and issues MOU and Proforma Invoice. 3. Buyer signs and seals returns. 4. Buyer issue bank to bank pre-advice MT199 for POF (fiduciary bank account as below) and send verification email from bank to the seller via email. 5. Seller bank verifies and issues DTA with details of the storage tank and terminal. 6. Upon confirmation of Dip Test Q&Q, Seller issue Authorization To Sell and Collect (ATSC) for Buyer to make full payment by MT103 T/T and provide details of tanks or vessels and issues notice of readiness (NOR) to receive the product in buyerâ??s rented tanks or vessel and ATI immediately. 7. Seller issue Certificate of Origin from Singapore, POP documents as follow: - a) Q&Q Report b) Injection Report c) Fresh Update SGS reports d) Transfer Ownership Title Certificate 8. Seller pays commission within 48 hours by swift MT103 to all intermediaries as signed NCNDA/IMPFA. SOP to be followed strictly, Commissions 10$, 1:1. Please WhatsApp me at +65 81838550 for more details.
PROCEDURES NON Negotiable FOB: FUJAIRAH Diesel EN590 10PPM 100,000MT-300,000MT The price: Gross Usd 730/MT, Net USD 720/MT 1. Buyer sends ICPO to Seller on receipt of Seller's basic offer. 2. Seller issues PRO-FORMA INVOICE (PFI), for the available quantity to Buyer. Buyer Signs and returns to Seller with POF. ONLY MT199 ACCEPTABLE and NCNDA/IMFPA signed by all buyer groups with commission structures. (Free Bank Message) BC (BANK CONFIRMATION LETTER) Acceptable on prior arrangement and approval. 3. Seller issues; a.) Fresh SGS Report within 48 Hours. (Issued from SGS Company with storage tank coordinates) b.) Injection Report. C ) Certificate f Origin. d.) Refinery Reservoir Receipt. e.) Statement of product availability in seller storage tank in Port of Operation. f.) Authorization to Sell and Collect (ATSC). g.) Authorization to physically verify the product in seller tank (ATV) to authorize the buyer dip seller's tanks. 4. Buyer order SGS to Conduct Dip test of the product in the Seller Tank on buyer expense upon successful dip test, buyer provides vessel details (Q88), and seller immediately submit the injection report t the buyer including Notice of Readiness to Inject. 5. Seller commences injection into buyer's vessel and issues injection report to buyer. Upon the confirmation of the total quantity injected. 6. Seller issues Commercial Invoice and Buyer makes 100% payment by MT103 TT wire transfer for the total product and Seller pays Commission to all intermediaries involved in
FOB TRANSACTION PROCEDURE CI, DIP & PAY 1. Buyer issues ICPO, Company Registration Certificate and Data page of buyer's Passport copy including POF (BCL) Bank Confirmation Letter for Trial Quantity amount. 2. Seller receives buyer's ICPO. Seller issues Commercial Invoice (CI) for the total product in seller's leased tank in port terminal for buyer's endorsement. 3. Buyer endorsed seller's Commercial Invoice (CI) and return CI, along with buyer's own/leased Tank Storage Agreement (TSA) from buyer's Logistic Company as a proof of buyer's availability of storage facility. 4. Seller acknowledged the endorsed CI as well verifies buyer's TSA. if well satisfied, Seller issues to buyer the following POP documents; a Copy of DIP-TEST AUTHORIZATION - D.T.A. to buyer, to be endorsed by Buyer Tank farm. b Copy of Legalized Commercial Invoice. c Copy of Export License d Copy of Guarantee Letter to Supply e Copy of Statement of Availability of Product 5. Buyer sends copy of endorsed DTA to Seller within 48hrs. Upon receipt of endorsed DTA, seller issues the following POP documents to the buyer and NCNDA & IMFPA will be signed and endorsed for the protection of all intermediaries involved in the transaction: a Copy of Certificate of Origin; b Copy of Commitment to Supply; c Copy of Authorization to Verify d Copy of Authorization to Sell and Collect e Copy of Accreditation certificate f Copy of Product Allocation Certificate g Copy of Product Passport h Copy of Fresh SGS Report i Copy of Injection Report j Copy of Tank Storage Receipt/Reservoir Receipt k Copy of GPS coordinates/ location of Seller tanks at loading port including tank details, tank farm contact person and telephone number. l Copy of NCNDA & IMFPA document. 6. Buyer immediately orders his SGS inspection team to proceed for the dip test on the product in the tank at buyerâ??s expense. 7. Upon successful and satisfactory Q&Q test. Buyer provides his TSR and ATI to enable seller inject the product into the buyerâ??s tank. 8. Buyer pays for the total cost of the product in the tank or injected into the buyerâ??s tank via MT103 to sellerâ??s nominated bank account. 9. Within 24hours upon receipt of the payment, seller pays commission to mandates / intermediaries that are involve in the deal. 10. Seller issues title change/transfer of product to buyer and buyer fully take over the tank and the product. *NOTES: * If buyer can pay one day TSR and tank company (@buyer) can endorse DTA, this will save money COMPARED to paying continuously for 5 days TSRs to get pop.
For years, we have been operating in international markets with reputable and reliable shipping companies, storage tank farms, refineries and sellers, I find it reasonable to extend salutations and suggest we discuss how we can work together to better serve our networking goals. At â??SEIâ??, we provide commodities directly from the title holder. The current available product right now is EN590, JET A1 & JP54, SCO with title holders FOB & CIF Non-negotiable procedures will be provided upon request.
FOB ROTTERDAM - DIP and PAY payment terms Specifications added in the picture section. Procedure : - Send LOI to Stoix Trading FZCO to initiate the process and we will send you our SCO. 1 Buyer sends ICPO in line with seller working procedures alongside his/her Tank Storage Agreement (T.S.A.) on receipt and acceptance of Seller's Soft Offer 2. Seller issues Commercial Invoice (C.I.), Buyer Signs within 24 hours and returns to Seller within its validity 3. Upon receipt and review of the signed C.I., seller issues Dip Test Authorization (D.T.A) to be completed and signed by buyer/ Buyer's logistics in order for Dip Test to be conducted alongside counter signed copies of the C.I 4. Buyer returns the Dip Test Authorization (DTA) fully completed and signed within its validity and upon successful review of the completed DTA, seller issues the below full POP documents: - A. Fresh SGS Report (Not older than 72 hours); B. Product Reservoir Receipt; C. Accreditation Certificate; D. Product Passport (Quantity and Quality Analysis); E. Authorization to Sell and Collect Certificate (ATSCC); F. Pre-Injection Report (PIR); G. NCNDA/IMFPA (To be completed by all intermediaries); H. Certificate of Product Origin; Authority to Verify (ATV) either physically or otherwise. 5. Upon receipt and confirmation of the above POP Documents, Buyer provides its testing officials (SGS or INTERTEK) and the needed test are carried out on the product in seller's tanks; 6. Buyer upon successful Dip Test makes full payment by MT103 / TT wire transfer for the total product and Seller pays commission according to NCNDA/IMFPA to all intermediaries involved in the transaction within 24 hours after confirmation of buyer's payment and injection commences immediately. 7. Seller issues a contract for buyer's desired duration upon successful completion of the trial order.
REFINERY TANK TO VESSEL&TANK/DIP & PAY PROCEDURE 1. Buyer issues official ICPO addressed to the refinery or representative. 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: - ATSC - Authority to sell and collect. - DTA - Dip Test Authorization - PRODUCT PASSPORT - Product analysis report from a renowned inspection company. - STATEMENT OF PRODUCT AVAILABILITY DULY SIGNED AND NOTARIZED BY THE APPROPRIATE AUTHORITIES. - COMMITMENT LETTER TO SUPPLY - ATV �¢?? Authority to verify the existence of product via email or phone call. 4. Buyer sends Dip Test Authorization to the seller�¢??s tank farm for endorsement extends seller�¢??s tank and receives full GPS coordinates of the tanks, Hub Numbers, terminal access permit and dip test is conducted immediately with buyer�¢??s team to obtain fresh SGS report. 5. After a successful Dip Test in Seller�¢??s tanks, Buyer takes over seller�¢??s tank or Seller injects into buyer�¢??s vessel / Tank and buyer conducts its DIP TEST Inspection for Q & Q of the Petroleum Products aboard vessel / Tank. 6. Buyer after a successful Q &Q Dip test on the product, the buyer makes the payment for the total value of the product injected into the tanks through the means of MTI03 - TT. 7. Upon seller receives the payment for the product from the buyer, the seller issues to the buyer the Title ownership of the product and all exporting documents of the Product. 8. The seller pays all intermediaries involved in the transaction.
*EN590 FOB Rotterdam we closed 200k mt today and invoice sent,* but are others *200k avaliable for 585 usd mt,* if you are interested or you have buyer we can do quick deal, *attached procedure is very good.* *Remember jet a1 in tanks for 88 usd bbl avaliable too.*
