Petroleum Products (Sellers) Published date: February 10, 2019

WE HAVE THE PRODUCT IN TANK READY FOR IMMEDIATE DELIVERY


Fob Houston D6


Dip and pay 


Gross 88/ Net 86



1. The buyer send ICPO, CP and Tank Storage Agreement (TSA) as proof of Storage tank availability.


2. Seller verifies and issues: Commercial Invoice (CI) for the available quantity in the storage tank, along with Commitment to Supply, Statement of product Availability and Certificate of origin of the product. Buyer Signs and returns CI to Seller along with an ATV approved by their logistics company for seller’s verification purposes.


3. Upon receipt of the signed CI and ATV, seller verifies and issues the POP documents:


a. Seven 7 days Unconditional DTA


b. 48 hours Fresh SGS Report in Houston 


c. loading port injection report


d. Product Passport


e. Tank Receipt


f. ATSC


g. Bill of Lading



4. Upon successful verification of the POP documents, Buyer orders SGS to conduct Dip test of the product in the


Seller's tank at buyer expense.


5. Buyer makes 100% payment by MT103 TT wire transfer for the total product and Seller pays commission to all


Seller Side intermediaries as buyer likewise pays commissions to all Buyer Side intermediaries involved in the


transaction within 24 hours after confirmation of the buyer’s payment.


6. Following the completion of the Dip Test, seller injects the fuel into buyer’s leased Storage Tank and seller submits


the full Injection report to the buyer


7. Seller issues draft SPA to buyer to review for R&E monthly


8. Buyer reviews and approves the SPA and issues SBLC/IRDLC irrevocable, transferable, auto revolving for 12


monthly Shipment value and documentary letter of credit for length of contract and for each lift per schedule. Buyer


pays after dip test By MT103 Wire transfer on each monthly quantity.


9. The subsequent delivery shall commence according to the terms and conditions of the contract, and mandates/ Intermediaries receive their commissions according to monthly deliveries.

• Company Name: SMD
• Country: Spain - Venezuela

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