Refined Fuel

SELLER #1

TERMS OF SALE: FOB CONTRACT TRANSACTION

ROTTERDAM, NETHERLANDS / DIP AND PAY TERM TRANSACTION PROCEDURES:

The process begins with Buyer'S Corporate Profile, ICPO and IMFPA registration with the seller.

Once the CI is approved then there will be a call between seller and the buyer to complete the remainder of procedures. Seller pays $1 commission to seller’s side; Buyer pays $1 commission to buyer’s side.

 

JP-54

QUANTITY: 1,000,000 BBL TO 5,000,000 BBL

FOB ROTTERDAM

 

D2

QUANTITY: BUYER’S CHOICE

FOB ROTTERDAM

 

D6

QUANTITY: BUYER’S CHOICE

FOB ROTTERDAM

 

PROCEDURES:

Procedure not negotiable: 

1) Buyer issue ICPO

2) Seller issue CI to buyer and Buyer sign and return signed CI along TSA.

3) Seller issue PPOP documents to Buyer directly

a. Commitment to supply,

b. Certificate of Origin,

c License Certificate

e. Seller TSR

4) Buyer provide to Seller from their tank farm

A. port terminal code of their storage tank,

B. Authorization to Verify,

C. Readiness to receive fuel All documents must to be address to Seller by buyer tank farm.

5) Seller confirm buyer documents and issue to buyer TSR/ATV, Unconditional Dip Test Authorization (DTA) SGS report

6) Buyer conducts Dip Test inspection in Seller tank to confirm the quality and quantity of the product.

7) Buyer provide TSR for Injection of the product into buyer tank

8) After injection of Product then Buyer make payment via MT103/TT for the lifted product to Seller nominated bank

9) Seller issue and transfer title ownership documents to buyers

10) Commission to all intermediaries involved as per IMFPA agreement via MT103/TT

 

SELLER #2

TERMS OF SALE: FOB SPOT TRANSACTION

ROTTERDAM, NETHERLANDS / DIP AND PAY TERM TRANSACTION PROCEDURES:

 

JP-54

QUANTITY: 1,000,000 BBL TO 5,000,000 BBL

FOB ROTTERDAM

 

D2

QUANTITY: BUYER’S CHOICE

FOB ROTTERDAM

 

D6

QUANTITY: BUYER’S CHOICE

FOB ROTTERDAM

 

PROCEDURES:

Procedures are not negotiable

1. Buyer issues ICPO/CP and IMFPA to Seller Mandate according to the Seller procedure.

 

2. Seller issues commercial invoice (CI), both parties counter sign and complete the CI.

 

3. Buyer returns the duly countersigned commercial invoice to Seller along with TSA/ATV as proof of storage availability.

 

4. Seller issues NCNDA/IMFPA signed by all buyer groups with commission structures. Seller issues as follows: (a)Tank Storage Receipt, (b) Certificate Of Origin, (c) Product Passport, (d) Product Availability, (e) Authority To Sell & Collect, (f) Authority To Verify.

 

5. Once Buyer verifies the PPOP documents, Buyer provides NOR from its tank farm confirming their readiness to receive the product. Upon verification of the NOR by the Seller, Seller shall release the fresh SGS and unconditional DTA for Buyer’s verification, and shall notify the tank farm company to issue to Buyer: (a) Injection Report, (b) Clearance Access Permit.

 

6. Upon verification of mentioned documents, Seller and Buyer agreed, Seller approve the DTA and Buyer dip tests in seller’s Tank with SGS term and issue the SGS certificate at buyer’s expense and Buyer issues full payment of the product at sight via MT-103, T/T.

 

7. Seller transfers title change of ownership to Buyer name, Buyer submit TRS to commence loading immediately. If option to contract is selected, Seller Issues C.I.F contracts to be signed by Seller and Buyer.

 

8. Buyer lifts product and Seller's Bank releases the commission to the mandates and intermediaries involved according to signed NCNDA & IMFPA agreement.

 

Get in Touch!

Coral Island Group
2000 South College Avenue
Philadelphia, Pennsylvania 19121

Phone: +1 215 232-8000+1 215 232-8000

inquiry@coralislandgroup.com

 

Need Help?

Call  us at at +1 215 232-8000+1 215 232-8000 today! We are your managed buy/sell specialist in the greater Philadelphia area.

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