FOB Tank Take Over Procedure
DIESEL FUEL EN590 TTO
| Attribute | Details |
|---|---|
| Product | DIESEL FUEL EN590 10PPM |
| Origin | Kazakhstan |
| Intercoms | TTO, STS |
| Min. Quantity | 10,000 MT Per Month |
| Max. Quantity | 500,000 MT Per Month |
| FOB Price | $450/MT gross, $440/MT net Per Metric Ton |
| Commission | Seller $5 / Buyer $5 |
| Destination Port | Any Safe Ports |
DIESEL FUEL EN590 TTO PROCEDURE | PETROLEUM SUPPLIER IN FUJAIRAH, JURONG, ROTTERDAM, HOUSTON
1. Buyer issues ICPO upon receipt of Full Corporate offer.
2. Seller issues draft Sales & Purchase Agreement, buyer returns signed contract to the seller.
3. Seller issues buyer
Unconditional Dip Test Authorization (UDTA), to be endorsed by both seller and buyer tank farm.
4. After successful dip test, seller and buyer agree on the final destination of the first shipment. Seller issues the following full POP documents:
- Cargo Declaration
- Test Report by TEST CARGO.
- Product Allocation Certificate
- Ullage Report
- Notice of Readiness
- Bill of lading
- Vessel Q88
- Certificate of Origin
5. Buyer will sign an escrow agreement with the sellers nominated renowned law firm/escrow agent, and the buyer deposits 5% of total shipment value via MT103 TT wire transfe or issue a 5% bank guarantee deposit of the total first shipment value to the sellers nominated fiduciary bank via SWIFT or equivalent in USDT to the approved cryptocurrency wallet. From the second vessel, the buyer will issue SBLC or DLC to the seller-nominated bank after the buyer receives full POP. The seller will issue 2% PB to the buyer.
6. Upon confirmation of full POP and the 5% bank guarantee deposit, the buyer provides shipping agent contact information to the seller for the Ship Master (shipping company) to open communication. The captain issues a Notice of Readiness (NOR) & ETA and the ship Master (shipping company) issues Power of Attorney mail to the buyer’s shipping agent, entrusting them to perform all needed shipping agency and freight forwarding services in the discharge port. The shipping agent will complete the preliminary maritime declaration, obtain the port entry notice, and make the customs forecast (customs declaration) to complete the maritime & customs double declaration and reroute the vessel to the buyers destination port.
7. Seller begins injection of complete product into buyer’s vessel.
8. Buyer makes 100% payment by MT103 or TT wire transfer or equivalent in USDT to the approved cryptocurrency wallet for the total product.
9. Seller transfers the Title of Ownership to the Buyer and pays all intermediaries according to the signed NCNDA / IMFPA for monthly deliveries as the buyer lifts the product.