TRANSACTION: FOB (TTV)
PRICE: $96/4 ($94 NET)
PROCEDURE FOB(TTV)
1. Buyer submits ICPO, (CPA) on receipt of Seller Soft Corporate offer.
2. Seller releases Commercial Invoice (CI), buyer signs and return back to seller along with NCNDA/IMFPA.
3. Seller company issues the following PPOP documents to the Buyer,
• Product Passport
• Authorization To Verify (call/email)
• Authorization To Sell & Collect (ATSC)
• Injection Report
4. Buyer company contacts Injection Company to confirm the existence of product and to negotiate for the number of days for midstream pipeline injection operation into Buyer’s Vessel. 5). Immediately after a Successful negotiation with injection company, Buyer submits NOR from his Shipping Company for injection to commence into the Buyer’s nominated Vessel. 6). Upon successful injection of product, Seller issues fresh SGS Q&Q Report (not older than 24 hours) with FULL POP Documents to the Buyer, including the Resource-confirmation Letter (issued by the End-Refinery).
7). Buyer issues 100% payment for the total value cost of product via MT103/TT Wire Transfer to the Seller’s designated bank account.
8). Seller completes transfer of product title in the Buyer’s name and pays all Commission to his Seller Side Intermediaries as per Master Fee Agreement and Buyer pays also directly his Buyer’s Side intermediaries.
9). The Seller issues annual (12 months) delivery contract for review and acceptance contract.
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