Petroleum Products (Sellers) Published date: September 30, 2017
Modified date: September 30, 2017

PROCEDURES DIP & PAY ROTTERDAM

1. Buyer confirm Seller's SCO and issues ICPO full banking coordinates to Seller along with Company registration certificate.
2. Seller issues Commercial invoice (CI) for available quantity of spot transaction to Buyer + NCNDA/IMFPA, Buyer signs/seals CI returns to Seller along with signed NCNDA/IMFPA all the parties.
3. Seller issues the following PPOP documents to Buyer

* Signed/sealed copy of Commercial invoice * Dip test authorization (DTA)
* Tankstoragereceipt(TSR)
* Authorization to verify(ATV)

4. Buyer provide TSA, ATV to Seller and Seller verifies storage company, after validation Seller issue full set POP documents to Buyer as listed below:

* SGSreport
* Authorization to sell certificate(ATSC)
* Dip test authorization (DTA)
* Product passport
* Certificate of origin
* Injectionreport

5. Buyer present his SGS officials to conduct dip test at Seller's tank on Buyer expense and send the copy of SGS report to Seller for confirmation.

6. Upon successful dip test Q/Q validation, Buyer provide TSR containing tank details, ATV, ATI to Seller and Seller inspection tanks for injection commerce.

7. Buyer's bank releases full payment of product by MT103 to Seller's bank as agreed on signed CI for the total quantity injected into Buyer’s tank and Seller issue title of ownership transfer letter to Buyer with all relevant documents for export.

8. Buyer pays commission by TT wire transfer to intermediary of Buyer side at the same time Buyer's bank releases payment of product to Seller’s bank and Seller pays commission to intermediary of Seller side within 24 hours after receipt payment of product based on signed NCNDA/IMFPA.

9. Upon successful of spot transaction, Buyer/Seller signing contract for supply 12 months as mutually agreed the quantity for monthly delivery with the same terms and conditions of spot transaction.

10. Subsequent delivery shall commerce according to terms and conditions in contract and the agents both Buyer/Seller receive their commission of monthly delivery based on signed IMFPA of spot transaction.

• Company Name: RIPRIMEL PROJECTS PTY LTD
• Country: BOTSWANA

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