AVIATION TURBINE KEROSENE (JET A1) Min. Quantity: 1,000,000 Barrel Max. Quantity: 5,000,000 Barrel per Month Delivery: CIF / FOB-Spot. CIF /FOB Price: USD Gross $65 per Barrel. DIP AND PAY TRANSACTION PROCEDURE FOB CHINA, SINGAPORE, FUJAIRAH, ROTTERDAM, HOUSTON 1. Refinery Issues a Full Corporate Offer and Buyer Sends ICPO, CP, And Tank Storage Agreement (TSA) As Proof of Storage Availability. 2. Refinery Verifies and Issues Commercial Invoice (Ci) For Available Quantity Include the Product Specifications, Tank to Tank Injection Agreement (TTTIA). Buyer Signs and Returns Signed Ci To Refinery Along with (TTTIA) Signed and Approved by Their Logistics Company. 3. The Refinery Issues the Below Pop Documents to Allow the Buyer Dip Test in Seller's Ex-Shore Tank. A. Dip Test Authorization (DTA). B. Authorization to Sell & Collect (Atsc). C. Commitment Letter to Supply. D. Statement of Product Availability. E. Authorization Letter to Verify. F. Payment Invoice for tank extension for dip test and product allocation. 4. After confirming the payment by the seller, the Buyer Orders SGS to Conduct a Dip Test of the Product In The Seller's Ex-Shore Tanks at Seller's Expenses Within the Validity of the Tank Storage Receipt. 5a. Buyer Provides Logistics Details Either Their Vessel Details or Tank Storage Agreement as to Commence Injection of Product. 5b. Upon Successful Receive of the SGS Analysis Report of the Product Seller Provides to the Buyer the Following Documents: A. Loading Port Injection Report. B. Product Passport. C. Bill of Lading. D. Certificate of Origin. E. Certificate of Ownership. F. Q88 6. Buyer Makes 100% Payment by Mt 103 TT Wire Transfer for The Total Cost of the Product and Refinery Pays Commission to All Seller and Buyer Intermediaries Involved in The Transaction Within 48 Hours After Confirmation of the Buyerâ??s Payment. 7. Refinery Issues Draft Sales and Purchase Agreement to Buyer to Review for Roll Over and Extension Monthly of Deliveries for One Year. 8. The Subsequent Delivery Shall Commence According to The Terms and Conditions of the Sales and Purchase Agreement and Mandates / Intermediaries Receive Their Commissions According to Monthly Deliveries.
