Please quote for the following wholesale product requirement -
Product: En590-10ppm
Specifications:
Qty: 100.000 mt
Procedures:
FOB TANK TO VESSEL DIP/PAY TRANSACTION PROCEDURES
1. The buyer issues an ICPO in compliance with the seller's procedure, along with the buyer’s bank details, Company information, and a passport copy.
2. The seller confirms the buyer's ICPO and issues a Commercial Invoice (CI) with the product quantity
in the Storage tank facility to the buyer for review and endorsement.
3. The buyer reviews and signs the Commercial Invoice (CI), then returns it to the seller along with the
buyer's Charter Party Agreement (CPA) from a reliable logistics company for the seller's confirmation
and approval.
4. Seller confirms the buyer's charter party agreement or tank storage agreement [CPA/TSA], and
issues an appointment letter for the SGS report inspection to be signed endorsed by the
buyer and his logistics company.
5. Upon receipt of the signed appointment letter for the SGS report inspection, the seller releases the
following proof of product (POP).
A. Fresh SGS report (not older than 24 hours)
B. Tank injection report.
C. Tank storage receipt (TSR) with GPS coordinates.
D. Unconditional dip test authorization (DTA)
E. Statement of product availability.
F. Authority to verify and inspect (physical inspection).
G. Authority to Sell and Collect (ATSC).
6. Buyer conducts a dip test in the seller's tank storage facility. Upon successful dip test. Seller
7. Commence product injection into the buyer's vessel upon presentation of Q88.
8. After product injection, the buyer pays the total product cost by TT wire transfer.
9. Transfer to the seller's nominated bank account.
10. The seller transfers the title ownership documents to the buyer.
11. The seller pays commissions in accordance with the NCNDA/IMFPA agreement.
Destination Port : Tank To Vessel Dip/Pay Transaction Procedures,
PROCEDURE FOB TANK TO TANK ROTTERDAM PORT
1. The buyer issues ICPO, CIS, KYC, a copy of the buyer’s passport, Company Registration Certificate, Company Profile with TSA for seller’s approval.
2. Seller issues, commercial invoice (CI) for the product available in tanks at the port. Buyer Signs and submit the CI to the seller.
3. Seller issues a copy of SGS report and Non-Disclosure Agreement document (NDA) to the Buyer corporate email and buyer' s Tank Farm to verify product in seller' s tank reservoir and SGS report.
4. Upon successful verification of the SGS and product in sellers’ tank by buyer's tank farm company, Seller pays 2 days Tank storage lease and buyer pay 1 day tank storage lease for the injection process to buyer’s tank farm company. Upon confirmation of both seller and buyer payment receipt to buyer’s tank farm company, Seller issues the below listed PPOP
documents to buyer:
* Fresh SGS (not older than 48 hours)
* Certificate of Origin
* Authorization to Verify (ATV)
* Dip Test Authorization (DTA)
* Commitment to Supply
* Tank Storage Receipt (TSR)
* Authority to Sell and Collect (ATSC)
* Injection Report.
5. Seller and buyer signs NCNDA/IMFPA between all intermediaries involved for commission payment.
6. Buyer inspects by SGS (Dip test in seller tanks) at buyer' s expense.
7. Seller Issue (Authorization to Transfer from Seller Tank to Buyer Tank) upon buyers satisfactory.
8. Buyer makes payment for the product via MT 103 after completed injection and receiving copy of bill of lading and seller transfers the Certificate of Ownership to buyer and Seller pays commission to all intermediaries as per IMFPA involved in the transaction within 48 hours after confirmation of the buyer's payment.
9. Seller issues draft SPA to the buyer to review for R&E monthly deliveries.
10. Buyer reviews and approves the SPA and issues SBLC/IRDLC irrevocable, transferable, divisible, auto revolving for 12 months shipment value, documentary letter of credit for length of contract and for each lift per schedule. Buyer pays after Dip Test by MT103 Wire Transfer one each monthly quantity.
11. The subsequent delivery shall commence according to the terms and conditions of the contract.
Quantity Required : 200000 Metric Ton/Metric Tons
Shipping Terms : FOB
Destination Port : Procedure Fob Tank To Tank Rotterdam Port,
