Description

FOB TRANSACTION PROCEDURE.

1. Buyer sends ICPO to Seller on receipt of Seller\'s Soft Offer
2. Seller issue CI & SPA to buyer, buyer sign and return with POF.
3 Seller invite SGS to conducts fresh Dip Test  (Q&Q) and sends to buyer for verification together with the following documents, bank to bank / secured email:

A. FRESH SGS (indicating quality and quantity)
B. PRODUCTS PASSPORT
C. CERTIFICATE OF ORIGIN
D. COMPANY REGISTRATION CERTIFICATE
E. STATEMENT OF PRODUCT AVAILABILITY
F. PERFORMANCE INVOICE FOR *0% COST OF THE TOTAL PRODUCT
G. REFINERY COMMITMENT ASSURANCE LETTER TO SUPPLY

4. After Buyer successful verify the product quality and quantity with the SGS company.
5. Buyer Pay with T/T Wire via MT**3, *0% of the total quantity as indicated in the SGS (as a performance payment to enable  the seller arrange freight and insurance).
6. Seller at receipt of  payment, issue IMFPA/NCNDA for brokers commission and submit via bank-to-bank, Full POP including the shipping documents.
7. Upon vessel arrival at the destination port, Buyer  Conducts DIP TEST and upon satisfactory result, releases *0% balance of payment to sellers bank  by MT**3 or TT Wire Transfer to the seller as per account details in the Commercial Invoice.
8. Seller Pays all intermediaries concerned within ****2 hours of receiving payment.



                             DIP AND PAY PROCEDURE


1. Buyer Issued ICPO With Company Registration Certificate.
2. Seller Issue Commercial Invoice (CI) Buyer sign and return commercial Invoice together with his POF
3. Seller conducts fresh SGS and sends to the buyer for verification.
4. After Buyer successful verify the product dip test Q&Q with the SGS company.
5. Buyer remits *0% payment of the total product value via MT**3/TT transfer to seller bank.
6. Buyer provide TSR to seller for injection of the fuel in the buyer tanks
7. Seller injects product and issue all the necessary documents including DTA & ATS, Buyer contacts his tank farm and arranges to dip test and lift the product. Buyer make payment via MT**3 TT wire transfer for the remaining *0% of  total lifetable quantity,
8. Seller transfer title of ownership to buyer, Buyer Lift the product and Seller Pays all intermediaries involved in the Transaction. 

9. Seller and buyer sign *2 Month Contract.