EN590 10 ppm

       OFFICIAL PROCEDURE NON-NEGOTIABLE

  Tank to Vessel procedure

      FOB Rotterdam – DLC / SBLC Payment Method

  1.  The Buyer issues an ICPO containing the Company Registration Certificate, the Buyer’s Passport, the Seller’s working procedure, and banking details. In addition, the Buyer should send the valid CPA (Charter Party Agreement) and a BCL (Bank Comfort Letter). All required documents should go via authorized company to government/diplomat. Authorized company must show his official letter inclusive copy passport of diplomat.
  2. If the Buyer’s CPA is accepted, the Seller issues a Commercial Invoice of the product. The Buyer signs (all pages) the Commercial Invoice and returns it. 
  3. The Seller issues a copy of the Fresh SGS Report (within72hours) to the Buyer.
  4. Upon successful confirmation of the SGS Report verification by the Buyer, the Seller issues to the Buyer a Tank-to-Vessel Injection  Agreement (TTVIA) to be endorsed by both the Seller and Buyer’s Logistic Company.
  5.  The Buyer provides a valid Q88 from its logistics company to the Seller. This opens the loading readiness process of the vessel.
  6. The Seller issues the following POP documents to the Buyer:
      a. Fresh Q&Q Report.
    b. Injection Report.
    c. Unconditional Dip Test Authorization Letter (DTA).
                     d. Authorization to Sell and Collect (ATSC).
     e. Fresh SGS Report (already provided).
    f. Authorization to verify the product in the Seller’s tank (ATV).g. Certificate of OriginExport License.
  7. Upon the satisfactory results of the dip test conducted by the Buyer’s Inspection team, the Seller’s storage Company issues to the Buyer, the Notice of Readiness (NOR) to inject the product into the vessel. The Buyer makes the payment for the total value of the product through the means of MT-103-TT. Once the payment is received, the Seller gives the order to inject the product to the vessel. 
  8. Subsequently, monthly delivery continues according to the terms of the commercial invoice (or FCO) and the transaction is extended by issuance of a 12 months contract (SPA) with possible R&E by the seller.

 

 

 

 

 

                                                                                                 OFFICIAL PROCEDURE NON-NEGOTIABLE

                                                                                        Procedure: CIF Standard with DLC / SBLC Payment Method

                                                                                                         FUJAIREAH – ROTTERDAM

1.The Buyer issues an ICPO containing the Company Registration Certificate, the Buyer’s Passport, the Seller’s working procedure, and banking details. In addition, the Buyer should send the valid TSA, and a BCL (Bank Comfort Letter). All required documents should go via authorized company to government/diplomat. Authorized company must show his official letter inclusive copy passport of diplomat.

 

  1. Seller issues Full Corporate Offer (“FCO”) for the signature by both parties & Buyer returns signed (FCO) with the (ICPO) Irrevocable, Purchase Order with full banking legal authority.

 

  1. The Seller issues the Sales Purchase Agreement (“SPA”) and the Performa Invoice (“PI”) for review.

 

  1. The Buyer and the Buyers-Bank check carefully the SPA and PI and signs both of them. Any necessary changes or additions can be done just in accordance with the Seller. Seller signs and Signed contracts to be lodged at the respective banks.

 

  1. The Seller provides the following PPOP documents:

 A-  Certificate of Origin 

 B-  Letter of Commitment from the refinery to supply the product

 C-  Allocation Number in Buyer’s name

 

  1. Within 5 banking days upon receipt of PPOP documents, Buyer issues fully funded SBLC MT760 to Seller’s NOMINATED bank. Upon Bank confirmation of Instrument, Seller within 48 hours issues the order to the Refinery and within 5 banking days issues 2% PB.

 

  1. Seller coordinates with the refinery export department the loading of product; time frame will be estimated at 10-21 days Ex-Tank Refinery Loading Port. Upon completion of loading the full set of POP documents will be issued and sent to Buyer, including IMO/MMS/Vessel(s) Name.

 

  1. Seller confirms readiness of registered vessel (ETA) for LAYCAN Birth at Buyer’s port of discharge and Buyer provides Seller the LAYCAN / BIRTH window dates and Seller confirms it with Refinery for refinery’s (ETA) final confirmation and notifies the buyer.

 

  1. Seller issues full original POP documents to buyer via courier. Buyer is the consignee. Seller notifies buyer of clearance for Vessel to set sail to buyer’s nominated port. Undertaking that all the costs to CIF …. Port waters is  covered by the Seller. Charter party, BL and ownership title will be transferred to buyer on receipt of payment at Off-loading ports.

 

  1. Payment with (TT) wire transfer will be within 7 days at discharge port, after SGS/SAYBOLT inspection is issued.

 

GENERAL

to be according to INCOTERMS 2010 and latest amendments unless otherwise stipulated in this contract. English Law to apply with the non-exclusive Jurisdiction of the High Court in South Africa.

 

SHIPPING DOCUMENTS LIST WILL CONSIST OF THE FOLLOWING:

 

  1. Clean Ocean Bill of Lading, One (1) Original and three (3) copies.
  2. Sellers Commercial Invoice, One (1) Original and three (3) copies.
  3. Copy of Platt’s indications to support the invoice value (not required as pricing is fixed).
  4. Certificate of Origin, One (1) Original and three (3) copies.
  5. Master’s receipt for samples.
  6. Master’s receipt for Documents.
  7. Ullage report issued at loading terminal, One (1) original copy.
  8. Cargo Manifest.
  9. Tanker Time Sheets, One (1) Original and two (2) copies.
  10. Original Quality and Quantity certificates plus two (2) copies as issued at loading port and discharge port by an Independent surveyor company.
  11. Custom Clearance at the loading port, One (1) Original and two (2) copies
  12. Authority to Sell (ATS).