TRANSACTION PROCEDURE VTT - VESSLE TO TANK (NON-NEGOTIABLE):
1. Upon acceptance of seller’s procedure by e-mail, buyer issue Purchase order (ICPO) and Tank Storage Agreement.
2. Upon acceptance of buyer ICPO/TSA, Seller issues Commercial Invoice to be signed by seller and buyer.
3. Buyer signs the commercial invoice and returns to seller the signed CI, seller issue the POP Documents as shown below:
A. Q&Q Report
B. Ullage Report
C. Clean-on-board Ocean Bill of Lading/Q88
D. Export License
E. Cargo Manifest
4. Upon Buyer confirmation of the above POP on the arriving loaded vessel, buyer provide below Tank details within 3 days to enable seller commence Injection once the Vessel is moored.
a) Tank Receipt valid for 5days (Minimum)
b) Notice of Readiness issued by Storage Tank Company
c) Authority Letter to Verify/Inject
5. Upon vessel arrival at Buyer’s nominated port, Vessel Captain Shall Berth the Vessel at the Buyer Tank Terminal for Injection process to take place, and trans-loading/injection commences and upon completion of Injection into buyer’s Tank, the SGS inspector’s team will be invited for carrying our the DIP TEST Q&Q.
6. Upon successful Q&Q including Dip Test, Buyer pays for product by Wire Transfer/Swift MT-103 into the Seller’s account.
7. Seller transfers the Ownership of the product to buyer and hands over all documents including Certificate of Origin.
8. Seller Pays commission to all intermediaries, both Parties proceed with the signing for a 12 Month FOB contract upon completion of the first trial order, payment SBLC + MT103 for long term contract.
1. Upon acceptance of seller’s procedure by e-mail, buyer issue Purchase order (ICPO) and Tank Storage Agreement.
2. Upon acceptance of buyer ICPO/TSA, Seller issues Commercial Invoice to be signed by seller and buyer.
3. Buyer signs the commercial invoice and returns to seller the signed CI, seller issue the POP Documents as shown below:
A. Q&Q Report
B. Ullage Report
C. Clean-on-board Ocean Bill of Lading/Q88
D. Export License
E. Cargo Manifest
4. Upon Buyer confirmation of the above POP on the arriving loaded vessel, buyer provide below Tank details within 3 days to enable seller commence Injection once the Vessel is moored.
a) Tank Receipt valid for 5days (Minimum)
b) Notice of Readiness issued by Storage Tank Company
c) Authority Letter to Verify/Inject
5. Upon vessel arrival at Buyer’s nominated port, Vessel Captain Shall Berth the Vessel at the Buyer Tank Terminal for Injection process to take place, and trans-loading/injection commences and upon completion of Injection into buyer’s Tank, the SGS inspector’s team will be invited for carrying our the DIP TEST Q&Q.
6. Upon successful Q&Q including Dip Test, Buyer pays for product by Wire Transfer/Swift MT-103 into the Seller’s account.
7. Seller transfers the Ownership of the product to buyer and hands over all documents including Certificate of Origin.
8. Seller Pays commission to all intermediaries, both Parties proceed with the signing for a 12 Month FOB contract upon completion of the first trial order, payment SBLC + MT103 for long term contract.
