1.Buyer issue ICPO containing the seller's working procedure with buyer’s banking details and scanned copy of buyer’s passport
2.Seller issues Draft Sales and Purchase Agreement (open for amendment) to buyer’s review and signing.
3.Buyers sign the Sales and Purchase Agreement back to the seller; Sellers acknowledge the signed contract and submit it with the ministry for legalization on the seller's expenses.
4.Seller issue the below Partial POP Documents to the buyer as listed below: Certificate of Origin Commitment to Supply Statement of Availability of the product Authorization to Sell and Collect (ATSC). Commercial invoice for the first shipment.
5.Within 7 banking days after receiving PPOP documents. Buyer's bank sends SBLC/DLC according to seller's fiduciary bank verbiage to seller nominated fiduciary bank account which acceptable by Buyer for first month shipment.
6.Should buyer fail to issue payment instrument within 7 banking days, buyer will make cash deposit of $550,000USD by TT wire transfer to seller nominated fiduciary/offshore bank account for colleral to enable seller charter vessel and commence shipment, and this payment will be deducted from the total cost of product after inspection at discharge port, or legal action will be taken against buyer for default.
7.Upon confirmation of buyer's SBLC / DLC or guarantee deposit of $550,000USD to seller's bank, seller will issue 2% Performance Bond, Full POP, and Shipping Documents via SWIFT bank - tobank as shown below: (a) Product Allocation Export Permit (b) Allocation Title Ownership Certificate (C) Trans-Neft Contract to transport the product to the loading Port storage agreement (d) Charter party Agreement to transport the product to discharge port (e) Tank Storage Receipt (f) SGS Quality and Quantity Certificate Bill of Landing (H) Vessel Questionnaire 88
8.Seller/ buyer signs the CPA with a shipping company and issues the Full POP documents to buyer’s bank.
9.Shipment commences and upon arrival of the vessel tanker at the discharge port, buyer conducts SGS Inspection and makes operative SBLC MT760 or makes payment for the full shipment via TT Wire or MT103 and Seller pays all intermediaries involved in the transaction and subsequently monthly shipments continue as per terms and conditions of the sales and purchase agreement.
1. Buyer issues ICPO according to the seller’s working procedure along with the buyer's company certificate of registration or profile with a copy of the buyer's passport.
2. Seller issues complete Tanker Take over ADDENDUM of the loaded cargo (MOU)
3. Buyer signs Tanker Take over ADDENDUM of the loaded cargo (MOU) and return to the Seller, within 48 hours alongside with Commitment Letter to proceed.
4. Seller endorse (MOU) contract, and sends to buyer, the following POP documents which were issued in the initial buyer’s name via email. a. Product Passport (Quantity & Quality Dip Test Analysis Report) b. Certificate of Origin c. Bill of Lading d. Tanker Vessel Q88 Document Vessel e. (N.O.R) Notice of Readiness f. Ullage Report g. Cargo Manifest h. Invoice for Security Deposit.
5. Upon the receipt of the documents, the buyer verifies the availability of the product on the high sea and immediately make 3% security guarantee payment which serves as a Title Take-Over Fee. (Depending on the Negotiation between Buyer & Seller)
6.Upon seller receipt of the title takeover payment, seller orders for re-route of the vessel to buyer’s desired port, transfer the title to the buyer’s company’s name alongside with Certificate of Approval/ Title of Ownership Certificate, and also re-issue all other outstanding documents to the buyer’s company’s and send via swift from seller bank the full proof of product.
7.The vessel arrives at the discharge port and the buyer carries out the CQI/SGS inspection and upon a successful inspection, the buyer pays by MT103 T/T the balance for the full product to the seller Bank.
8. Seller shall provide the following partial proof of product documents which were issued in name of the initial buyer. Commissions as structured in NCNDA/IMFPA shall be paid within 48 hours of payment as per NCNDA/IMFPA.
1. Buyer send a Corporate Profile, along with a full ICPO, a current and valid (TSA) and buyer passport data page, Seller verifies and approves Buyer’s TSA.
2. The seller issues a Commercial Invoice of the product in the seller’s tanks at the port, and the buyer signs and returns the commercial invoice with an acceptance letter.
3. Seller submits a 48-hour old hard copy of fresh SGS Report to buyer Tank Farm Company in Houston for verification of the SGS report with SGS in Houston.
4. Upon confirmation of SGS Report by Buyer's Tank Company in Houston/Rotterdam, Seller requests for buyers active & Operational TSR in seller’s name for injection program. (TSR days depend on the quantity to be injected). Seller injects product to buyer’s tank and issues following POP documents to the buyer:
- Q&Q analysis report done by Indigenous Lab at the port of Origin.
- Full Injection report
- ATV / UDTA
- Copy of product Certificate of Origin
- Copy of product Export License to port.
- Allocation transfer Certificate.
- Authority to sell and collect (ATSC).
5. Buyer conducts Dip test on the product at the buyer's cost for reconfirmation.
6. Upon confirmation of the SGS test by the buyer for quantity and quality, the buyer makes 100% payment via MT103 for the total value of the injected into the buyer’s tanks.
7. Seller pays all intermediaries involved via NCNDA/IMPFA and subsequently, monthly shipments continue as per terms and conditions of the sales and purchase agreement contract between the buyer and seller.
1. Buyer issues official Irrevocable Corporate Purchase Order (ICPO) with full banking information, Company Profile, Buyer’s Passport copy, company registration certificate, copy of Seller’s Transaction Procedure and latest valid POF.
2. Seller issues Commercial Invoice to buyer, Buyer countersigns within 24 hours and returns to seller
3. Seller issues the following PPOP document to Buyer:
- A. Authorization to Verify (ATV) via Email/Telephone
- B. Passport product Analysis.
- C. Notice of Readiness to inject (NOR)
- D. Certificate of Origin.
- E. Tank Storage Receipt (TSR)
4. Within 48 hours of receiving PPOP documents, buyer pays extension cost direct to Seller's Tank Farm Company.
5. Seller issue DTA (authorization to dip test), Access Permit and Buyer Conducts DipTest/SGS at seller’s tanks
6. Buyer provides Seller/Refinery with Buyer's Vessel/Tank information's.
7. Seller commences injection immediately into Buyer's Vessel/Tank within maximum 48hours Buyer Pays via MT103 /TT and issues all export documents.
8. Both parties sign a one-year contract.
9. Seller pays commissions to mandates and intermediaries within 24 hrs. after confirmation of the buyer’s payment.
1.Buyer issues ICPO containing the seller's procedure with banking details and scanned copy of buyer's passport along with (TSA) Tank Storage Agreement (TSA) from buyer's Logistic Company.
2.Seller issues Commercial Invoice (CI) for the available products in Tank at the Port, for Buyer's review and endorsement and return for legalisation on seller's expenses.
3. The Seller's verify the Tank Storage Agreement (TSA) provided by the buyer. Upon successful verification and approval of the authenticity and availability of the Storage Facility reserve in favor of the buyer. Buyer submit their valid TSR in seller name to enable Seller operate on the Tank Storage receipt (TSR) the refinery releases below POP documents directly to end buyer's secure email. a. Copy of Legalized Commercial Invoice. b. Copy of Commitment to Supply. c. Copy of Injection Report d. Copy of Fresh SGS (Not Older Than 48 hrs.) e. Copy of ATS -Authorization to Sell & Collect. f. Copy of Authorization to Verify (ATV g. Copy of Dip Test Authorization (DTA) h. Copy of Commitment Letter to Supply i. Copy of Export license. j. Copy of Statement of Product Availability k. Copy of Tank Storage Receipt (TSR) with barcode and GPS Coordinate)
4. The Buyer Conducts Dip Test in the product in the seller's reservoir.
5. Buyer provides Authority to Inject (ATI) from it Logistic Company to enable seller to commence Injection of Product into the Buyer’s Tank.
6. Within Twenty-Four (24) Hours upon completion of the Injection, buyer will make payment for the total cost of the product injected into buyer's tank by TT wire transfer to seller's nominated bank account.
7. Buyer lifts products and Seller and Buyer consider and signs further contracts after successful Transaction..
