Petroleum Products (Sellers) Published date: March 4, 2020

COST, INSURANCE AND FREIGHT (CIF) CHINA / ASWP PROCEDURE
1. BUYERS ISSUE ICPO ALONG WITH A SCANNED COPY OF INTERNATIONAL PASSPORT.
2. SELLERS ISSUES DRAFT COPY OF SALES PURCHASE AGREEMENT (SPA), BUYER SIGNS AND RETURNS TO SELLER SALES PURCHASE AGREEMENT.
3. THE SELLER PROVIDE EXPORT LICENSE TO BUYERS - FOR BUYERS TO CONFIRM ABILITY OF SELLER FOR EXPORT.
4. ALL PARTIES SIGN NCNDA/IMFPA COMMISSION PROTECTION
5. BOTH PARTIES PROCEED TO MUTUALLY APPOINT RUSSIAN CHARTER COMPANY, WHEREBY: - BOTH PARTIES EQUALLY SHARE COST OF PORT CLEARANCE FEE FROM LOADING PORT OF TRIAL ORDER. AFTER SEALING CPA, SELLER WILL INVITE BUYER TO WITNESS VESSEL LOADING. AFTER BILL OF LADING COPY RECEIVED BY THE BUYER, BUYER WILL PROVIDE THE DISCHARGE PORT AGENT FULL CONTACT DETAILS TO SELLER.
6. UPON VESSEL ARRIVAL AT LOADING PORT; SELLER PROCEED TO ISSUE THE FOLLOWING DOCUMENTS TO BUYER:
a. STATEMENT OF AVAILABILITY OF THE PRODUCT.
b. LETTER OF COMMITMENT TO SUPPLY.
c. NOTARISED PRODUCT PASSPORT WITH MINISTRY OF ENERGY.
d. NOTARISED CONTRACT WITH MINISTRY OF ENERGY. f. ALLOCATION TRANSACTION PASSPORT CODE CERTIFICATE.
e. VESSEL LOADING SCHEDULE.
7. UPON LOADING FINISH; SELLER SEND POP (HARD COPY) TO BUYER VIA GOVERNMENT COURIER (COST BORNE BY SELLER):
a. CERTIFICATE OF ORIGIN
b. COPY OF Q&Q CERTIFICATES AS ISSUED AT LOADING PORT BY AN INDEPENDENT SURVEYOR COMPANY NOMINATED BY SELLER
c. ULLAGE REPORT IDENTIFICATION OF THE LOADED CARGO WITH QUANTITY EXPRESSED IN METRIC TONS
d. COPY OF OCEAN BILL OF LOADING MADE OUT “CLEAN ON BOARD” MARKED “FREIGHT PREPAID”
e. SIGNED COMMERCIAL INVOICE, SHOWING QUANTITY, QUALITY SURVEY RESULT, VESSEL NAME AND LOADING COMPLETION DATE
f. COPY CHARTER PARTY AGREEMENT
g. Q88 VESSEL DETAILS i. AUTHORITY TO SELL AND COLLECT
8. VESSEL SET ON VOYAGE TO BUYER DISCHARGE PORT AND UPON ARRIVAL SELLER PROVIDES BUYER WITH: - a. DIP TEST AUTHORISATION
b. ATB FOR INSPECTION ACCORDING TO SGS/CIQ STANDARDS
9. WITHIN THREE TO FIVE BANKING DAYS AFTER CIQ INSPECTION; BUYER ARRANGES BANK PAYMENT TT OR MT103 AGAINST TITLE TRANSFER.
10. SELLER PAYS COMMISSIONS TO ALL INTERMEDIARIES AS PER ICC NCNDA/IMFPA WITHIN 3 DAYS.

FOB ROTTERDAM BANKING PROCEDURE
1. Buyer sends ICPO in line with seller working procedures alongside his/her Tank Storage Agreement TSA.
2. Seller issues Commercial Invoice (C.I.), Buyer Signs and returns to Seller Within its validity;
3. Upon receipt and review of the signed C.I., seller issues Dip Test Authorization (D.T.A) to be completed and signed by buyer in order for Dip Test to be conducted alongside counter signed copies of the C.I;
4. Buyer returns the Dip Test Authorization (DTA) fully completed and signed within its validity and upon successful review of the completed DTA, seller issues the below full POP documents: -
A. Fresh SGS Report (Not older than 72 hours);
B. Export License;
C. Accreditation Certificate;
D. Product Passport (Quantity and Quality Analysis);
E. Authorization to Sell and Collect Certificate (ATSCC);
F. Pre-Injection Report (PIR);
G. NCNDA/IMFPA (To be completed by all intermediaries);
H. Certificate of Product Origin;
I. Authority to Verify (ATV) either physically or otherwise.
5. Upon receipt and confirmation of the above POP Documents, Buyer provides its testing officials (SGS or INTER-TEK) and the needed test are carried out on the product in seller’s tanks;
6. Buyer upon successful Dip Test, Buyer makes full payment by MT103 / TT wire transfer for the total product and Seller pays commission to Seller’s mandate within 24 hours after confirmation of buyer's payment and injection commences immediately;
7. Seller issues a contract for buyer’s desired duration upon successful completion of the trial order.

STANDARD TRANSACTION PROCEDURES (TANK TO VESSEL)
1) Buyer issue ICPO containing the seller's working procedure with banking details.
2) Seller issues commercial invoice of the product in tanks at the port, buyer sign and return commercial invoice to the seller along with Vessel Q88.
3, Seller issue to Buyer's Commitment Letter to inject product to Buyer Nominate Vessel terminal.
4) Buyer provide for Seller vessel information and details.
Seller approve FULL POP listed below to Buyers Bank.
a) Q&Q Report
b) Injection Report
c) Unconditional Dip test authorization letter (DTA)
d) Authorization to sell.
e) Fresh Update SGS Report.
f) Authorization to collect.
g) GPS Coordinate-Tank Storage Receipt (TSR),
5) Buyer successful Product Dip Test in Seller tanks, within 48hours product inject into Buyer's nominate vessel. Buyer makes Payment for the product via MT103 and Seller Transfers Title Ownership to Buyer follow by second Shipment.

Contact mail@intercontinentalagency.com for details

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