Description
FOB TRANSACTION PROCEDURE.
1. Buyer sends ICPO to Seller on receipt of Seller\'s Soft
Offer
2. Seller issue CI & SPA to buyer, buyer sign and return with
POF.
3 Seller invite SGS to conducts fresh Dip Test (Q&Q) and
sends to buyer for verification together with the following
documents, bank to bank / secured email:
A. FRESH SGS (indicating quality and quantity)
B. PRODUCTS PASSPORT
C. CERTIFICATE OF ORIGIN
D. COMPANY REGISTRATION CERTIFICATE
E. STATEMENT OF PRODUCT AVAILABILITY
F. PERFORMANCE INVOICE FOR *0% COST OF THE TOTAL PRODUCT
G. REFINERY COMMITMENT ASSURANCE LETTER TO SUPPLY
4. After Buyer successful verify the product quality and quantity
with the SGS company.
5. Buyer Pay with T/T Wire via MT**3, *0% of the total quantity as
indicated in the SGS (as a performance payment to enable the
seller arrange freight and insurance).
6. Seller at receipt of payment, issue IMFPA/NCNDA for
brokers commission and submit via bank-to-bank, Full POP including
the shipping documents.
7. Upon vessel arrival at the destination port, Buyer
Conducts DIP TEST and upon satisfactory result, releases *0%
balance of payment to sellers bank by MT**3 or TT Wire
Transfer to the seller as per account details in the Commercial
Invoice.
8. Seller Pays all intermediaries concerned within ****2 hours of
receiving payment.
DIP AND PAY PROCEDURE
1. Buyer Issued ICPO With Company Registration Certificate.
2. Seller Issue Commercial Invoice (CI) Buyer sign and return
commercial Invoice together with his POF
3. Seller conducts fresh SGS and sends to the buyer for
verification.
4. After Buyer successful verify the product dip test Q&Q with
the SGS company.
5. Buyer remits *0% payment of the total product value via MT**3/TT
transfer to seller bank.
6. Buyer provide TSR to seller for injection of the fuel in the
buyer tanks
7. Seller injects product and issue all the necessary documents
including DTA & ATS, Buyer contacts his tank farm and arranges
to dip test and lift the product. Buyer make payment via MT**3 TT
wire transfer for the remaining *0% of total lifetable
quantity,
8. Seller transfer title of ownership to buyer, Buyer Lift the
product and Seller Pays all intermediaries involved in the
Transaction.
9. Seller and buyer sign *2 Month Contract.
