TRANSACTION PROCEDURES ON FOB ROTTERDAM (TAKE-OVER SELLER’S TANK)

1. Buyer issues ICPO with company registration certificate alongside copy of passport page.

2. Seller issues commercial invoice and NCNDA/IMFPA. buyer countersigns and return back to seller.

3. Seller issues the below PPOP documents to buyer's secured email for verification.

Legalized Commercial Invoice.

Commitment and Guarantee Assurance Letter to Supply

Certificate of Origin.

Product Passport

Tank Storage Receipt (TSR)

4. Upon successful receive of PPOP documents, within 48 hours buyer contact the seller logistic company were the product is been stored to verify the availability of the product, obtain access and extend the seller’s leased tank with the tank storage company and obtain TSR on buyer’s name.

5. Upon confirmation of the buyer’s TSR obtain from the seller’s leased tank storage company, seller issues dip-test authorization to buyer to conduct Q&Q on product through their SGS team at buyer cost or seller provides fresh SGS report to buyer.

7. Upon confirmation of the SGS report within 48 hours buyer makes payment by mt103 to seller account and seller pay all commissions according to IMFPA.

8. Seller transfers tittle ownership certificate to buyer name and buyer take over the seller’s tank.

9. For ongoing deliveries seller and buyer signs sales, purchase agreement (spa), and buyer will place mt760 SBLC to cover cargo being delivered. NCNDA/IMFPA and one-year term contract delivery commences. seller issued draft contract to buyer to review for R&E monthly deliveries.