NON-NEGOTIABLE F.O.B PROCEDURE
1. Buyer accepts seller working procedure and issue ICPO to the end seller via seller's representative.
2. Seller issues commercial invoice and NCNDA and buyer signs and returns back commercial invoice along with buyer's tank storage agreement (TSA).
3. Seller representative visit the buyer's tank farm for TTM with a copy of SGS 48hrs old and injection report upon verification of the copy of the SGS and injection report, buyer and buyer's tank farm endorse TTTIA (Tank to tank injection agreement) as proof of readiness for buyer to inject from seller tanks to the buyer’s tank along with the following PPOP documents:
Statement of Product Availability
Commitment Letter to Supply Product
Product Allocation Certificate Issued by Ministry of Energy
Certificate of Origin Issued by Russian Chambers of Commerce.
Seller’s Company Notice of Readiness
Guarantee Letter from Refinery
Tank Storage Receipt (TSR)
Authorization to Verify (ATV)
Authorization to Sale and Collect (ATSC)
4. Seller issues complete DTA and tank receipt to buyer, buyer order SGS to conduct dip test of the product in the
seller's tank on buyer expenses submits the full injection report to the buyer.
5. Upon successful dip test, sellers inject the fuel into buyer lease storage tank and sellers submit the full injection report to the buyer
6. Buyer make 100% payment by MT103 TT wire transfer for the total product and seller pays commission to all intermediaries involved in the transaction within 24 hours after confirmation of the buyer's payment.
7. Seller issues draft spa to buyer to review for R&E monthly deliveries.