1. Buyer issues an Irrevocable Corporate Purchase Order (ICPO) with seller procedures, including a company profile and valid passport copy alongside Tank Storage Agreement (TSA).
2. Seller issues a Draft Commercial Invoice.
The buyer signs and returns along with verifiable tank coordinates and an injection permit not older
than 30 days issued by its tank farm company.
The seller verifies and issues the below POP documents
POP Documents:
Fresh SGS Report (Not older than 48 hours)
Authorization to Sell (ATS)
Letter of Commitment to Supply
Statement of Product Availability
Reservoir Storage Receipt
Allocation Transaction Passport Code Certificate
3. Within 3 days of receiving and verifying POP documents, buyer provides a verifiable Tank Storage Receipt (TSR) and Authorization to Inject (ATI).
4. All parties sign a Non-Circumvention, Non-Disclosure Agreement/International Master Fee Protection Agreement (NCNDA/IMFPA).
5. Seller issues a Dip Test Authorization (DTA) and a Complete Fuel Injection Report.
6. Upon satisfactory Dip Test Inspection (optional), the seller issues the Title Transfer of Product Ownership and allnecessary Export Documents. The buyer releases the full cost of the product via MT103 TT wire transfer within 72 hours, and lifting commences.
7. Seller confirms receipt of payment, and both parties release payments to intermediaries involved in the transaction.
1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) directly to the seller’s mandate company or refinery with a Charter Party Agreement (CPA), on buyer's company letterhead indicating company profile, company registration certificate, buyer's international passport, seller proceeds with verification and approval of the CPA.
2. Seller issues Commercial Invoice (CI) for buyer's endorsement.
3. Buyer signs and returns the CI to the seller.
4. Seller issues the product ATV to buyer.
5. Buyer contacts seller’s tank administrator to execute the quality & quantity and to register at the tank farm port terminal before the inspection (this process involves the acquisition of the access code certificate). Fee to be paid by buyer.
6. Seller issues POP documents to buyer:
POP Documents:
* Product Passport & Analysis Report (Quality & Quantity)
* Authorization To Sell and Collect
* Certificate Of Origin
* Notice Of Readiness to Program Injection of The Product
* DTA (Unconditional)
* Statement Of Product Availability
7. Buyer provides to seller transmission clearance and port clearance permit for the fuel transmission from seller tank to the buyer-chartered vessel. All parties sign a Non-Circumvention, Non-Disclosure Agreement/International Master Fee Protection Agreement (NCNDA/IMFPA).
8. Upon successful dip test in tank, buyer provides vessel coordinates from their vessel company and seller injection company sends Tank to Vessel Injection Agreement (TTVIA) to be signed by all parties. Seller immediately sign acceptance of the pipe agreement from the pipeline injection company for booking and paying the cost of transmission injection clearance from the injection company to assign the injection date, process to commence as scheduled.
9. Upon successful injection, seller issues to Buyer the Notice of Readiness (NOR) to inject the product into the buyer’s vessel. Seller bears the cost of the injection fees.
10. Seller and buyer sign MOU Contract Agreement on product security guarantee into buyer's vessel/tanker and provide to buyer with the below-listed POP upon injection completion:
* Fresh SGS Q&Q Report
* Injection Report (Injection Report of Product into Buyer Vessel)
* ATB (Authority to Board) For Buyer to Reconfirm Product in Vessel (Optional)
* Allocation Guarantee Letter
11. Buyer (alternatively) assigns SGS inspection to go onboard to conduct dip test on vessel. Upon receipt of a satisfactory report from SGS company, and upon completion of the injection and SGS inspection report, seller submits and releases the full proof of product.
12. Buyer pays within 48 hours via transfers via MT103/ TT 100% of the total value of the product loaded into the buyer’s vessel. Upon confirmation of payment, seller issues to the buyer the "Title of Ownership" with all exporting documents and seller pays all intermediaries involved in the transaction.
1. Buyer issues ICPO alongside Buyer’s Passport copy, company’s registration certificate.
2. Seller acknowledges ICPO and issue Draft Contract SPA to Buyer, Buyer review SPA open for any amendment, sign
and return to Seller for approval.
3. Seller registers and legalizes the signed Sales and Purchase Agreement contract and provides the registered legalized
and notarized SPA including PPOP as listed below.
a. Certificate of Origin.
b. Commitment to Supply.
c. Statement of Availability of the product.
d. Product export license
e. Product Allocation payment invoice at buyer’s expense.
4. Upon buyer securing allocation, Seller issues and register the Full set of POP with the Ministry of Energy and Justice
including the loading Port Authority, and charter of vessel for product Shipment.
5. Seller send to Buyer the full set of POP documents, vessel documents including SGS report at Origin Country to Buyer
via (Bank to Bank secured email) and loading commence according to shipment schedule for departure from origin
port within the specified working days after Buyer final notification of POP verification and Confirmation.
• POP DOCUMENTS:
• Certificate of Incorporation
• Act of Transfer
• Commercial Invoice
• Fresh SGS Report at Loading Port
• Tank Receipt
• Vessel Q&Q and Quality Specification
• Bill of Lading
• Notice of Readiness (NOR)
• Estimated Time of Arrival (ETA)
• Authorization To Sell Certificate (ATSC)
• Cargo Declaration / Conforming Warrant
• Ullage Report
• Customs Declaration Certificate.
• Product Allocation Certificate
• Notarized NCNDA/IMFPA
6. within 3 banking days of the Vessel arrival at Buyer destination port, upon Buyer’s Confirmation and satisfaction with
product buyer makes payment via TT/MT103 to Seller against Shipping documents and Title transfer.
7. Product discharged into Buyer’s storage facility/vessel, and Seller pays commission to all intermediaries within 24
hours after receiving payment from Buyer.