VTO PROCEDURES - FOB ROTTERDAM/HOUSTON/FUJAIRAH TRANSACTION PROCEDURES (VESSEL TAKE OVER)
1. Buyer provides ICPO incorporating seller's procedures, Buyer RWA + ATV for seller to perform due diligence and verify POF with Buyer's Bank.
2. Seller sends signed Commercial Invoice (CI) to Buyer and Buyer countersigns and sends CI back to seller within 48 hours. NCNDA+IMFPA is completed and signed off by all parties.
3. Products will be loaded onto a vessel at the seller's loading port and fresh SGS will be completed and provided to the buyer.
4. The seller will provide the buyer with a copy of the Charter Party Agreement; therefore, the buyer can view the vessel as it is moving to the destination port.
5. Upon arrival of the vessel tanker at the final discharge port, the buyer shall show updated POF, conduct the SGS/CIQ Inspection (optional at buyer's expense) and make the payment for the full shipment via TT Wire or MT103 TT (Wire Transfer) WITHIN 48 HOURS.
6. The seller transfers ownership of the product and the buyer takes over the vessel.
7. The seller pays all buyers and seller intermediaries the full commission amount as stated in the NCNDA/IMPA agreement. Subsequently, the monthly contract proceeds as outlined in the terms and conditions of the sales and purchase agreement between the buyer and the seller.
1. Viscosity at 80fª+ª conditional no more than 16 degrees .
2. Viscosity at 100fª+ª conditional no more than 6,8 degrees.
3. Ashes for black oil cindery no more 0,14 %
4. A mass fraction of mechanical impurityno more than 1,0 %
5. A mass fraction of water no more than 1,0 %
6. The water-soluble acids and alkalis is absent
7. A mass fraction of sulfur of 2.5 % - 3 %
8. The temperature of flash in open unit is not lower 110 fª+ª
9. The temperature of hardening is not higher 25fª+ª
10. Heat of combustion in recalculation on dry fuel not less than 39900 kJ/kg.
11. Density at 20 fª+ª no more than 980 kg / m¼¦
