NOTE 1: WE ONLY ACCEPT ICPO FROM END BUYERS. NO PROXY BUYERS
NOTE 2: All ICPOs must be addressed to the refinery/end seller through our company, as their official representative. All transactions are managed directly by the refinery/end seller.
1: BUYER ISSUES OFFICIAL ICPO, CPA, ADDRESSED TO THE REFINERY OR REPRESENTATIVE.
2: SELLER ISSUES COMMERCIAL INVOICE (CI), BUYER SIGNS AND RETURNS THE SIGNED INVOICE TO SELLER.
3: SELLER ISSUES TO BUYER THE PARTIAL PROOF OF PRODUCT (PPOP) DOCUMENTS:
A) ATSC - AUTHORITY TO SELL AND COLLECT.
B) DTA – DIP TEST AUTHORIZATION.
C) PRODUCT PASSPORT – PRODUCT ANALYSIS REPORT FROM A RENOWNED INSPECTION COMPANY.
D) STATEMENT OF PRODUCT AVAILABILITY DULY SIGNED AND NOTARISED BY THE APPROPRIATE AUTHORITIES.
E) COMMITMENT LETTER TO SUPPLY.
F) ATV – AUTHORITY TO VERIFY THE EXISTENCE OF PRODUCT FROM THE STORAGE COMPANY (CALL OR EMAIL).
3-1: BUYER SUBMIT Q88
4: BUYER CONTACT REFINERY TO REQUEST FOR DIP TEST AUTHORIZATION PASS TO ALLOW BUYER VESSEL OR TEAM TO GO INTO TERMINAL AND CONDUCT DIP TEST, CIQ INSPECTION & SGS.
5: AFTER SUCCESSFUL DIP TEST IN SELLER'S TANKS, BUYER TAKES OVER SELLER ’S TANK OR SELLER INJECTS INTO BUYER’S VESSEL / TANK AND BUYER CONDUCTS ITS OWN DIP TEST INSPECTION FOR Q & Q OF THE PETROLEUM PRODUCTS ABOARD VESSEL / TANK.
6: NCNDA/IMFPA IS SIGNED WITH ALL INTERMEDIARIES.
7: PAYMENTS FOR FULL PRODUCT IS MADE AND INJECTION COMMENCE.
8: UPON RECEIPT OF THE PAYMENT, THE SELLER COMPANY WILL TRANSFER THE TITILE OF OWNERSHIP TO THE BUYER COMPANY WITH ALL NECESSARY EXPORT DOCUMENTS AND THE SELLER PAYS COMMISSIONS TO INTERMEDIARIES ACCORDANCE WITH THE SIGNED NCNDA/IMFPA.
FOB CHINA (TTV), QINGDAO, NINGBO, ZHOUSHAN
1: BUYER ISSUES OFFICIAL ICPO, CPA, Q88 ADDRESSED TO THE REFINERY OR REPRESENTATIVE.
2: SELLER ISSUES COMMERCIAL INVOICE (CI), BUYER SIGNS AND RETURNS THE SIGNED INVOICE TO SELLER.
3: SELLER ISSUES TO BUYER THE PARTIAL PROOF OF PRODUCT (PPOP) DOCUMENTS:
A) ATSC - AUTHORITY TO SELL AND COLLECT.
B) DTA - DIP TEST AUTHORIZATION.
C) PRODUCT PASSPORT - PRODUCT ANALYSIS REPORT FROM A RENOWNED INSPECTION COMPANY.
D) STATEMENT OF PRODUCT AVAILABILITY DULY SIGNED AND NOTARISED BY THE APPROPRIATE AUTHORITIES.
E) COMMITMENT LETTER TO SUPPLY.
F) ATV - AUTHORITY TO VERIFY THE EXISTENCE OF PRODUCT FROM THE STORAGE COMPANY (CALL OR EMAIL).
3-1: BUYER SUBMIT Q88
4: BUYER CONTACT REFINERY TO REQUEST FOR DIP TEST AUTHORIZATION PASS (AROUND $75,000) TO ALLOW BUYER VESSEL OR TEAM TO GO INTO TERMINAL AND CONDUCT DIP TEST, CIQ INSPECTION & SGS.
5: AFTER SUCCESSFUL DIP TEST IN SELLER'S TANKS, BUYER TAKES OVER SELLER 'S TANK OR SELLER INJECTS INTO BUYER'S VESSEL / TANK AND BUYER CONDUCTS ITS OWN DIP TEST INSPECTION FOR Q & Q OF THE PETROLEUM PRODUCTS ABOARD VESSEL / TANK.
6: NCNDN/IMFPA IS SIGNED WITH ALL INTERMEDIARIES
7: PAYMENTS FOR FULL PRODUCT IS MADE AND INJECTION COMMENCE.
8: UPON RECEIPT OF THE PAYMENT, THE SELLER COMPANY WILL TRANSFER THE TITILE OF OWNERSHIP TO THE BUYER COMPANY WITH ALL NECESSARY EXPORT DOCUMENTS AND THE SELLER PAYS COMMISSIONS TO INTERMEDIARIES ACCORDANCE WITH THE SIGNED NCNDA/IMFPA.
TRANSACTION WORKING PROCEDURE FOB/ROTTERDAM/HOUSTON/JURONG
1. BUYER ISSUES ICPO ADDRESSED TO SELLER.
2. SELLER ISSUES COMMERCIAL INVOICE (CI), BUYER SIGNS AND RETURNS TO
SELLER WITHIN THE VALIDITY PERIOD STIPULATED ON THE COMMERCIAL INVOICE ALONG WITH BUYER’S TERMINALING STORAGE AGREEMENT (TSA).
2. SELLER ISSUES COMMERCIAL INVOICE (CI), BUYER SIGNS AND RETURNS TO
SELLER WITHIN THE VALIDITY PERIOD STIPULATED ON THE COMMERCIAL INVOICE ALONG WITH BUYER’S TERMINALING STORAGE AGREEMENT (TSA).
3. SELLER VERIFIES BUYER’S TANK FARM AND IF APPROVED, SELLER PROCEED TO REQUEST FOR INVOICE OF 2 DAYS PAYMENT REMITTANCE, SELLER LEASES THE BUYER’S TANK FARM FOR 2 DAYS ONLY. SELLER ALSO ISSUES SCHEDULE UPON BUYER’S TANK FARM RECEIVING PAYMENT AND SELLER PROCEED TO INJECT THE
PRODUCT INTO THE LEASED TANK STORAGE. IF THE 2 DAYS LEASES BY THE SELLER
IS NOT ENOUGH BUYER SHALL REQUEST FOR 2 OR 3 DAYS MORE TO COMPLETE THE PROCESS OF INJECTION AND IMMEDIATELY DIP TEST ALONG.
VERY IMPORTANT NOTE:THE SELLER PAYS TO THE BUYER TANK FARM FOR 2 (TWO) DAYS TANK LEASS AND IMMEDIATELY AFTER THAT BUYER PAYS TO THE BUYER TANK FARM FOR 2 (TWO) DAYS TANK LEASE FOR THE INJECTION
PROCESS. THE BUYER TANK FARM COMPANY AFTER RECIVING PAYMENT FROM THE SELEER AND THE BUYER, THEN ISSUES A TSR FOR 4 (FOUR) DAYS WITH FULL TANK AND TERMINAL DETAILS TO START THE INECTION PROCESS.
4. UPON SUCCESSFUL INJECTION, SELLER RELEASES THE FOLLOWING PPOP
DOCUMENTS TO BUYER:
a) PRODUCT CERTIFICATE OF ORIGIN.
b) AUTHORIZATIONTO SALE AND COLLECT (ATSC).
c) PRODUCT PASSPORT.
d) DIP TEST AUTHORIZATION.
e) INJECTION REPORT.
f) FRESH SGS.
5. UPON BUYER RECEIPT OF THE POP, BUYER INSPECTS PRODUCT WITH SGS AGENT OR EQUIVALENT.
6. NCNDA/IMFPA IS SIGNED WITH ALL INTERMEDIARIES.
7. AFTER BUYER'S SUCCESSFUL DIP TEST ON THE PRODUCT, BUYER MAKES PAYMENT FOR THE TOTAL VALUE OF THE PRODUCT VIA MT103- TT.
8. UPON RECEIPT OF THE PAYMENT, THE SELLER COMPANY WILL TRANSFER THE TITILE OF OWNERSHIP TO THE BUYER COMPANY WITH ALL NECESSARY EXPORT DOCUMENTS AND THE SELLER PAYS COMMISSIONS TO INTERMEDIARIES ACCORDANCE WITH THE SIGNED NCNDA/IMFPA.
TRANSACTION WORKING PROCEDURES FOB ROTTERDAM AND HOUSTON PORT
1. Buyer issues ICPO containing the seller's procedure with banking details and scanned copy of buyer's passport along with Tank Storage Agreement (TSA) from buyer’s Logistic Company.
2. Seller issues Commercial Invoice (CI) for the available products in Tank at the Port, for Buyer's review and endorsement and return for legalization on seller's expenses.
3. The Seller's verify the Tank Storage Agreement (TSA) provided by the buyer Upon successful verification and approval of the authenticity and availability of the Storage Facility (reserve) in favor of the buyer:
A) Buyer pays $95,000 USD for SGS to Seller's company to enable seller to obtain Fresh SGS from SGS Company or Intertek (note this payment is deductible from total amount of product)
B) Upon confirmation of the SGS Report by the buyer, the Buyer proceeds to provide a Valid TSR of 5 days which will complete the Injection process, Seller releases the below POP documents directly to end buyer’s secure email:
a) Copy of Legalized Commercial Invoice.
b) Copy of Commitment to Supply.
c) Copy of Injection Report.
d) Copy of Fresh SGS (Not Older Than 48 hours).
e) Copy of ATS - Authorization to Sell & Collect.
f) Copy of Authorization to Verify (ATV).
g) Copy of Dip Test Authorization (DTA).
h) Copy of Commitment Letter to Supply.
i) Copy of Export license.
j) Copy of Statement of Product Availability.
k) Copy of Tank Storage Receipt (TSR) with barcode and GPS Coordinate.
4. NCNDA/IMFPA is signed with all intermediaries.
5. The Buyer Conducts Dip Test in the product in the seller's reservoir.
6. Buyer provides Authority to Inject (ATI) from its Logistic Company to enable seller commence Injection of Product into the Buyer's Tank.
7. Within Twenty - Four (24) Hours upon completion of the Injection, buyer make payment for the total cost of the product injected into buyer’s tank by TT wire
transfer to seller’s nominated bank account.
7. Within Twenty - Four (24) Hours upon completion of the Injection, buyer make payment for the total cost of the product injected into buyer’s tank by TT wire
transfer to seller’s nominated bank account.
8. UPON RECEIPT OF THE PAYMENT, THE SELLER COMPANY WILL TRANSFER THE TITILE OF OWNERSHIP TO THE BUYER COMPANY WITH ALL NECESSARY EXPORT DOCUMENTS AND THE SELLER PAYS COMMISSIONS TO INTERMEDIARIES ACCORDANCE WITH THE SIGNED NCNDA/IMFPA.
9. Buyer lifts products and Seller and Buyer consider and signs further contracts after successful Transaction.
TRANSACTION WORKING PROCEDURES FOB TANK TO VESSEL ROTTERDAM
1. Buyer issues ICPO, including seller procedure, Buyer's Company Profile,
registration certificate & Passport of Owner/Director, along with Buyer's/End user Charter Party Agreement (CPA), for Seller’s validation.
2. Seller issues Commercial Invoice (CI), for the available products in Tank at the Port, for Buyer's review and endorsement and return along with Buyer's/End user Charter Party Agreement (CPA). Buyer signs and returns to Seller. At the same time Seller will sign NCNDA & IMFPA with intermediaries as presented by the Buyer.
3. Seller issues to Buyer Tank-to-Vessel Injection Agreement (TTVIA) to be endorsed by both Seller and Buyer’s /End user Logistic Company.
4. Upon returned of the endorsed TTVIA, Seller release to Buyer the following
PPOP documents:
a. Tank Storage Receipt (TSR).
b. Commitment Letter to Supply.
c. Export License.
d. Authorization to Verify (ATV) (call or email).
5. Buyer contacts the Seller’s Storage Company to verify the availability of the product and to obtain access to enable Buyer and his team conduct dip test on the product in the sellers Tank.
6. Seller upon confirmation of Buyer securing legal access to the product, issues Dip Test Authorization (DTA) for Buyer to proceed for the dip test.
7. Upon satisfactory result of the dip test on the product by the Buyer and his team, Seller’s storage Company issue to Buyer the Notice of Readiness (NOR) to inject the product.
8. Buyer issues Q88 and make available the Vessel for the injection process to commence as schedule.
9. Upon completion of the Injection, Seller releases to buyer the below POP
documents:
e. Product SGS Report.
f. Injection Report.
g. Authority to Sell and Collect (ATSC).
h. Product passport (analysis test report).
i. Certificate of Origin.
10. NCNDA/IMFPA is signed with all intermediaries.
11. Buyer immediately pays for the total cost of the product value injected into the vessel through MT103 TT Wire Transfer.
12. UPON RECEIPT OF THE PAYMENT, THE SELLER COMPANY WILL TRANSFER THE TITILE OF OWNERSHIP TO THE BUYER COMPANY WITH ALL NECESSARY EXPORT
DOCUMENTS AND THE SELLER PAYS COMMISSIONS TO INTERMEDIARIES ACCORDANCE WITH THE SIGNED NCNDA/IMFPA.
FOB CHINA (TTT), QINGDAO, NINGBO, ZHOUSHAN
1. BUYER ISSUES ICPO ADDRESSED TO SELLER.
2. SELLER ISSUES COMMERCIAL INVOICE (CI), BUYER SIGNS AND RETURNS TO
SELLER WITHIN THE VALIDITY PERIOD STIPULATED ON THE COMMERCIAL INVOICE ALONG WITH BUYER'S TERMINALING STORAGE AGREEMENT (TSA)
3. SELLER VERIFIES BUYER'S TANK FARM AND IF APPROVED, SELLER PROCEED TO REQUEST FOR INVOICE OF 3 DAYS PAYMENT REMITTANCE, SELLER LEASES THE BUYER'S TANK FARM FOR 3 DAYS ONLY, SELLER ALSO ISSUES SCHEDULE UPON BUYER'S TANK FARM RECEIVING PAYMENT AND SELLER PROCEED TO INJECT THE
PRODUCT INTO THE LEASED TANK STORAGE, IF THE 3 DAYS LEASES BY THE SELLER IS NOT ENOUGH BUYER SHALL REQUEST FOR 3 DAYS MORE TO COMPLETE THE PROCESS OF INJECTION AND IMMEDIATELY DIP TEST ALONG.
VERY IMPORTANT NOTE:THE SELLER PAYS TO THE BUYER TANK FARM FOR 3 (THREE) DAYS TANK LEASS AND IMMEDIATELY AFTER THAT BUYER PAYS TO THE BUYER TANK FARM FOR 3 (THREE) DAYS TANK LEASE FOR THE INJECTION
PROCESS. THE BUYER TANK FARM COMPANY AFTER RECIVING PAYMENT FROM THE SELEER AND BUYER, THEN ISSUES A TSR FOR 6 (SIX) DAYS WITH FULL TANK AND TERMINAL DETAILS TO START THE INECTION PROCESS.
4. UPON SUCCESSFUL INJECTION, SELLER RELEASES THE FOLLOWING POP
DOCUMENTS TO BUYER:
a) PRODUCT CERTIFICATE OF ORIGIN.
b) AUTHORISATION TO SALE AND COLLECT (ATSC).
c) PRODUCT PASSPORT.
d) DIP TEST AUTHORISATION.
e) INJECTION REPORT.
f) FRESH SGS.
5. NCNDA/IMFPA IS SIGNED WITH ALL INTERMEDIARIES.
6. UPON BUYER RECEIPT OF THE POP, BUYER INSPECTS PRODUCT WITH SGS AGENT OR EQUIVALENT.
7. AFTER BUYER SUCCESSFUL DIP TEST ON THE PRODUCT, BUYER MAKES PAYMENT FOR THE TOTAL VALUE OF THE PRODUCT VIA MT103- TT.
8. UPON RECEIPT OF THE PAYMENT, THE SELLER COMPANY WILL TRANSFER THE TITILE OF OWNERSHIP TO THE BUYER COMPANY WITH ALL NECESSARY EXPORT DOCUMENTS AND THE SELLER PAYS COMMISSIONS TO INTERMEDIARIES ACCORDANCE WITH THE SIGNED NCNDA/IMFPA.
TRANSACTION WORKING PROCEDURES CIF DELIVERY
1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) in Sellers name along with Company import licenses, and along with buyer’s representative passport
copy.
2. Seller issues SPA to Buyer. Within 48 hours Buyer signs seal and returns the SPA
to seller, Seller gives Partial proof of products, PPOP authentication/approval legalized by the authority Ministry of energy.
3. Seller notarizes the contract, at its own expenses and submits Partial Proof of Product (PPOP) (via email) as follows:
A) Refinery Commitment to Supply.
B) Product Passport.
C) Certificate of Origin.
D) Company Profile.
E) Proforma invoice for the first value month.
F) Statement Of Availability of Product.
4. Within 7 banking days, Buyer’s bank sends Irrevocable Operative SBLC via MT760 or DLC via MT700 according to seller’s fiduciary bank verbiage to seller
nominated fiduciary offshore bank account for first month shipment. should buyer fail to issue payment instrument within 7 banking days, buyer will make cash deposit of $320,000 or its Equivalent in RMB by TT wire transfer for security
guarantee to enable seller charter vessel, pay cost insurance, export duty taxes, custom clearance and commence shipment, and this payment will be deducted from the total cost of product after inspection at discharge port, or legal action will be taken against buyer for default of transaction.
5. Seller’s Bank issues Full POP Documents to the Buyer’s Bank alongside with 2% Performance Bond (PB 2%):
a) Copy of license to export.
b) Copy of Approval to Export.
c) Copy of statement of availability of the product.
d) Copy of the refinery commitment to produce the product.
e) Copy of Transnet contract to transport the product to the loading port.
f) Copy of the port storage agreement.
g) Copy of the charter party agreement to transport the product to discharge port.
h) Copy of Vessel Questionnaire 88.
I) Copy of Bill of Lading.
j) SGS Report at loading port.
k) Dip test Authorization (DTA) & ATB.
l) NOR /ETA.
m) Certificate of Ownership Transfer.
n) Allocation Transaction Passport Code Certificate (ATPCC) by Ministry of Energy.
6. All parties finalized the signing of the NCNDA/IMFPA. The buyer will be invited by the seller to witness the loading of the product (At Buyers Cost, Maximum of Five Personals/Representatives, Optional).
7. Seller clears vessels from the commercial’s terminal (Loading Port), the buyer confirms shipping documents with ship master while seller effects delivery to buyer destination according to the contract schedule.
8. Upon the arrival of cargo at the discharge port, and after SGS/Q&Q at discharge port buyer’s bank release to seller’s bank payment by TT/MT103 within 7 (Seven) banking days. Seller release payment to all intermediaries as per signed NCNDA IMFPA within 48 hours of receiving the payment for the product from the Buyer's bank.
FOB FUJAIRAH / JURONG PORT-DIP AND PAY PROCEDURE
1. Buyer issues ICPO.
2. Seller issues Commercial Invoice (CI), buyer signs and returns back to seller.
3. Seller issues to buyer the next documents:
a) ATSC
b) DTA
c) PRODUCT PASSPORT
d) AVAILABILITY OF PRODUCT
4. Buyer extend seller tanks for 2 days and Dip test is conducted immediately on seller's account.
5) Seller injects into buyer's vessel and buyer conducts its own DIP TEST Inspection for Q & Q of the Petroleum products.
6) NCNDA/IMFPA is signed with all intermediaries.
7) Buyer successful Q&Q Dip test on the product, buyer makes the payment for the total value of product injected into the tanks through of MTI03/TT.
FREE ON BOARD (FOB) ROTTERDAM ONLY DIP AND PAY PROCEDURE (A)
1. BUYER ISSUES AN OFFICIAL ICPO.
2. SELLER ISSUES: COMMERCIAL INVOICE (CI) BUYER SIGNS AND RETURNS BACK ATTACHED WITH LETTER OF GUARANTEE OF PERFOMANCE TO SELLER.
3. SELLER ISSUES TO BUYER THE NEXT DOCUMENTS:
A) ATSC
B) DTA
C) PRODUCT PASSPORT
D) STATEMENT OF AVAILABILITY OF PRODUCT
4. BUYER ENDORSES DTA WITH SELLERS TANK AND RETURNS COUNTER SIGNED DTA AND COMMERICAL INVOICE PRINTED HAND SIGNED WITH RECENT DATE.
5. BUYER SUBMITS SIGNED AND ENDORSED CI AND DTA TO SELLER AND REQUEST FOR INJECTION REPORT OF PRODUCT EXISTING IN TANK OF SELLER LEASED STORAGE AND ALSO TSR. UPON CONFIRMATION OF SELLERS
A) INJECTION REPORT
B) TANK STORAGE RECEIPT (TSR)
6. BUYER AND SELLER EXTEND SELLER TANK FOR 5 (FIVE) DAYS WHERE BUYER PAY
2 (TWO) DAYS AND SELLER PAY 3 (THREE) DAYS TO THE SELLER STORAGE AND DIP TEST IS CONDUCTED IMMEDIATELY ON SELLERS ACCOUNT.
7. NCNDA/IMFPA IS SIGNED WITH ALL INTERMEDIARIES.
8. SELLER INJECTS INTO BUYER’S TANK AND BUYER CONDUCTS ITS OWN TEST INSPECTION FOR Q & Q OF THE PETROLEUM PRODUTS.
9. BUYER SUCCESSEFUL Q & Q DIP TEST ON THE PRODUCT, BUYER MAKES THE PAYMENT OF TOTAL VALUE OF PRODUCT INJECTED INTO THE TANKS THROUGH OF MT103-TT.
10. UPON RECEIPT OF THE PAYMENT, THE SELLER COMPANY WILL TRANSFER THE TITILE OF OWNERSHIP TO THE BUYER COMPANY WITH ALL NECESSARY EXPORT DOCUMENTS AND THE SELLER PAYS COMMISSIONS TO INTERMEDIARIES ACCORDANCE WITH THE SIGNED NCNDA/IMFPA.
FREE ON BOARD (FOB) ROTTERDAM ONLY DIP AND PAY PROCEDURE (B)
1. BUYER ISSUES AN OFFICIAL ICPO
2. SELLER ISSUES COMMERICAL INVOICE (CI), BUYER SIGNS AND RETURNS BACK ATTACHED WITH LETTER OF GUARANTEE OF PERFORMANCE TO SELLER.
3. BUYER SUBMIT MINIMUM OF 2 (TWO) REPRESENTATIVES WHO WILL CARRY OUT THE DIP TEST BUYER SENDS MINIMUM 2 (TWO) PASSPORT AND MAXIMUM 5 (FIVE) PASSPORT OF OFFICIALS WHO WILL CONDUCT DIP ON BEHALF OF BUYER.
4. SELLER VERIFIES AND ISSUES TO BUYER THE PPOP DOCUMENTS ENDORSED BY MINISTRY OF ENERGY:
A) ATSC
B) DTA
C) PRODUCT PASSPORT
D) STATEMENT OF AVAILABILITY OF PRODUCT
E) INJECTION REPORT
5. SELLER SUBMITS PASSPORTS AND DOCUMENTS OF BUYER TO MINISTRY OF
ENERGY KAZAKHSTAN TO OBTAIN PERMIT CODE AND ALLOCATION COORDINATE FOR BUYER TEAM TO ENTER THE PORT AND CONDUCT DIP TEST.
6. BUYER SUBMITS SIGNED AND ENDORSED PERMIT CODE AND DTA TO SELLER
AND REUEST FOR PRODUCT EXISTING IN TANK OF SELLER LEASED STORAGE. UPON CONFIRMATION OF SELLERS
A) FRESH DATED SGS
B) TANK STORAGE RECEIPT (TSR)
7. SELLER INJECTS INTO BUYER TANK AND BUYER CODUCTS OWN TEST INSPECTION FOR Q & Q OF THE PETROLEUM PRODUCTS.
8. BUYER SUCCESSEFUL Q & Q DIP TEST ON THE PRODUCT, BUYER MAKES THE PAYMENT OF TOTAL VALUE OF PRODUCT INJECTED INTO THE TANKS THROUGH OF MT103-TT.
FREE ON BOARD (FOB) HOUSTON ONLY DIP AND PAY PROCEDURE
1. BUYER ISSUES AN OFFICIAL ICPO.
2. SELLER ISSUES: COMMERCIAL INVOICE (CI) BUYER SIGNS AND RETURNS BACK ATTACHED WITH LETTER OF GUARANTEE OF PERFOMANCE TO SELLER.
3. BUYER SUBMIT MINIMUM OF TWO REPRESENTATIVES WHO WILL CARRY OUT THE DIP TEST, BUYER SENDS MINIMUM TWO PASSPORT AND MAXIMUM FIVE PASSPORT OF OFFICIALS WHO WILL CONDUCT DIP ON BEHALF OF BUYER.
4. SELLER VERIFIES AND ISSUES TO BUYER THE PPOP DOCUMENTS ENDORSED BY MINISTRY OF ENERGY:
A) ATSC
B) DTA
C) PRODUCT PASSPORT
D) STATEMENT OF AVAILABILITY OF PRODUCT
5. SELLER SUBMITS PASSPORTS AND DOCUMENTS OF BUYER TO MINISTRY OF
ENERGY KAZAKHSTAN TO OBTAIN PERMIT CODE AND ALLOCATION COORDINATE FOR BUYER TEAM TO ENTER THE PORT AND CONDUCT DIP TEST.
6. BUYER SUBMITS SIGNED AND ENDORSED PERMIT CODE AND DTA TO SELLER AND REQUEST FOR PRODUCT EXISTING IN TANK OF SELLER LEASED STORAGE. UPON CONFIRMATION OF SELLERS:
A) FRESH DATED SGS.
B) TANK STORAGE RECEIPT.
C) INJECTION REPORT.
7. NCNDA/IMFPA IS SIGNED WITH ALL INTERMEDIARIES.
8. SELLER INJECTS INTO BUYER’S TANK AND BUYER CONDUCTS ITS OWN TEST INSPECTION FOR Q & Q OF THE PETROLEUM PRODUTS.
9. BUYER SUCCESSEFUL Q & Q DIP TEST ON THE PRODUCT, BUYER MAKES THE PAYMENT OF TOTAL VALUE OF PRODUCT INJECTED INTO THE TANKS THROUGH OF MT103-TT.
10. UPON RECEIPT OF THE PAYMENT, THE SELLER COMPANY WILL TRANSFER THE TITILE OF OWNERSHIP TO THE BUYER COMPANY WITH ALL NECESSARY EXPORT DOCUMENTS AND THE SELLER PAYS COMMISSIONS TO INTERMEDIARIES WITHIN 1-2 BANKING DAYS IN ACCORDANCE WITH THE SIGNED NCNDA/IMFPA.
(TTO) PROCEDURES
1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) with Guarantee Letter to take over Title of the product.
2. Seller issue draft (MOU) agreement to Buyer counter-sign and return back to seller.
3. Upon Seller receipt of sign MOU-contract from the buyer, Seller legalizes the agreement with the Ministry of Energy, Agriculture & Trade KAZAKHSTAN Federation. Seller sends to Buyer the following documents for Buyer's confirmation:
A. Seller's company profile.
B. Bill of Lading.
C. Vessel Tanker Details.
D. Product Passport-Dip-Test Report.
E. 2% Payment deposit Invoice.
F. Cargo Manifest.
G. Cargo Ullage Report.
H. Q88.
I. Buyer confirms the goods documents and makes 2% down deposit which stands as an Allocation Security & Guarantee payment to the seller nominated bank by T/T Wire Transfer within 3 banking days, which shall be deducted from the total payment value of the takeover product. (The payment to be made to Shipping Company not to the seller).
4. Seller releases a fresh dated Dip-Test Authorization-DTA to Buyer to order SGS inspection or equivalent inspection team for Q&Q inspection upon goods/cargo arrival at the discharge port.
5. Upon the successful completion of Dip-test inspection, Buyer makes the balance 98% payment by MT103 wire transfer for the total goods value, Seller
transfers Title of ownership Certificate to buyer's name as the legitimate owner of the goods and commence trans-loading.
6. Trans-loading commences immediately.
7. Seller will release payments to the intermediaries involved within 48 hours of receiving the Payment for the product from the Buyer’s bank.
CIF TERM/COST INSURANCE AND FREIGHT TRANSACTION PROCEDURES
1. Seller issues and sends soft offer to Buyer and Buyer response with ICPO
including full banking details, Buyer sign and return full corporate offer along with their company certificate of incorporate copy.
2. Seller issues SPA, (Sales & Purchasing Agreement) Buyer review, sign and return the contract to Seller in word format within 3 bank working days. Seller sends final SPA in PDF format. Buyer confirms final SPA and issue letter of acceptance of
terms and condition of contract.
3. Seller issues to Buyer via electronic mail the following copy of partial copy product exportation transaction documents.
A. Product certificate of quality passport analysis.
B. Statement of product availability.
C. Commitment to supply.
D. Product certificate of origin.
4. Seller submits the Product title transfer certificate to the shipping company to ship the product to buyer designated discharge port, Seller signs the Charter Party Agreement (CPA), After the Buyer Issue the DLC MT700 or SBLC MT760, If Buyer fails to issue the payment instrument within 7 working days Buyer have to solve
100% of the total amount of the shipping charges directly to shipping company to enable seller proceed with CPA seal and loading the product to the ship, Seller bank respond with 2%PB to buyer bank within 72 hours. Upon the ship complete loading BL release to both seller and buyers.
5. Seller issue commercial invoice, Product title transfer and product allocation application form send to the buyer including SGS application form for the buyer to sign, and return the commercial invoice including the SGS and Allocation application form after filled and signed to proceed in obtaining the allocation
certificate of final ownership with buyer's name by Ministry of Energy of Kazakhstan Republic, Seller proceeds along with port clearance of product, custom
and all internal routines operations, accreditation and finalization of unanchored the ship to the destination.
6. Buyer's bank issue DLC to seller's nominated Bank Account DLC. Upon seller's confirmation of receiving DLC, seller proceeds in issuance of the full POP documents in buyer name, 2% Performance Bond, product ownership transfers title certificate and Full Exportation documents. Buyer bank confirms swift and issues documentary letter of credit and if Seller fails to supply the cargo of the product to the Buyer this 2%Performance Bond will be paid to the Buyer.
7. The product SGS inspection charges will be borne by Seller at the loading port. Seller invites buyer for visitation to witness the final inspection, loading of product at the port and Top table meeting for negotiation of future transaction (Optional to Buyer).
8. Loading & Shipment of product commences as schedule, Upon Vessel's arrival and finalization of SGS at destination port, Buyer release payment via swift fund transfer within 5 to 7 banking days to Seller for total shipment value in favor of
seller after discharge of product at destination port and receipt of the entire
relevant shipping and export documents for immediate negotiation and credited at Buyer's Bank Account. Seller within 48 hours pays the intermediaries involved according to signed contract & NCNDA.
