Product Description

OFFICIAL FOB PROCEDURES
1. BUYER ISSUES OFFICIAL ICPO PRODUCT RIGHT INSIDE THE VESSEL ON THE SEA 

2. SELLER ISSUES MOU. 

3. BUYER COUNTERSIGN MOU AND FORWARD BACK. 

4. UPON THE RECEIPT OF COUNTERSIGN MOU FROM THE BUYER, SELLER EMAILS TO BUYER THE LISTED BELOW DOCUMENTS ISSUED IN THE NAME OF THE INITIAL BUYER AS STATED BELOW: 
A. PRODUCT PASSPORT (QUANTITY & QUALITY DIP TEST ANALYSIS REPORT) 
B. CERTIFICATE OF ORIGIN 
C. BILL OF LADING 
D. VESSEL Q*8 DOCUMENT 
E. E.T.A. (ESTIMATED TIME OF ARRIVAL) OF VESSEL 
F. VESSEL (N.O.R) NOTICE OF READINESS 
G. ULLAGE REPORT 
H. CARGO MANIFEST 
I. INVOICE FOR TITLE TRANSFER 

5. UPON THE RECEIPT OF THE DOCUMENTS, BUYER VERIFIES THE AVAILABILITY OF THE PRODUCT ON HIGH SEA AND MAKES PAYMENT WITHIN *8 HOURS FOR THE TITLE TAKEOVER WHICH AMOUNT TO THE SUM OF $**0,**0.*0 (FIVE HUNDRED AND FIFTY THOUSAND $USD ) TO SELLERS FIDUCIARY ACCOUNT. 

6. UPON SELLER RECEIPT OF THE TITLE TAKEOVER PAYMENT, SELLER ORDERS FOR THE VESSEL TO BE RE-ROUTED TO BUYER'S DESIRED PORT, SELLER TRANSFERS THE TITLE TO THE POTENTIAL BUYER'S COMPANY'S NAME AND ALSO RE-ISSUE ALL OTHER OUTSTANDING DOCUMENTS TO THE POTENTIAL BUYER'S COMPANY AND SEND VIA SWIFT FROM SELLER BANK THE FULL PROVE OF PRODUCT TO BUYERS BANK. 

7. VESSEL ARRIVES THE DISCHARGE PORT AND BUYER CARRIES OUT THE CIQ/SGS INSPECTION AND UPON A SUCCESSFUL INSPECTION, BUYER PAYS BY MT**3 T/T FOR THE FULL PRODUCT TO THE SELLER. 

NOTE:-THE TITLE TAKEOVER PAYMENT WILL BE DEDUCTED FROM THE TOTAL PRODUCT VALUE. 

8. SELLER PAYS ALL PARTIES INVOLVED THEIR COMMISSION WITHIN *8 HOURS.

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