quantities in the Rott and Houston tanks

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quantities in the Rott and Houston tanks

Post  Admin on Sun Jun 03, 2018 5:43 pm



JP54
IMMEDIATE LIFTABLE
1,000,000 BBLS – 5,000,000 BBL
Price:  


D6
IMMEDIATE LIFTABLE Weekly (Weekly)
100,000,000 - 550,000,000Gallons Price:  



1. Seller's Official Representative Issues a Soft Corporate Offer and Buyer sends ICPO, CP and Tank Storage Agreement (TSA)
as proof of storage availability.
2. Seller verifies and issues Commercial Invoice (CI) for available quantity in the storage tank to include the product
specifications, along with Commitment to supply, Statement of Product Availability and Certificate of Origin of the product.
Buyer signs and returns CI to Seller along with ATV approved by their logistics company for Seller verification purposes.
3. Upon receipt of the signed CI and ATV, Seller verifies and issues the POP documents:
A) Seven days Unconditional DTA
B) 48 hour fresh SGS Report issued in Rotterdam
C) Loading port injection report
D) Product Passport
E) Tank Receipt
F) ATSC
G) Bill of Lading
4. Upon successful verification of the POP documents, Buyer orders SGS report to conduct Dip Test of the product in Sellers
Tanks at Buyers expense.
5. Following the completion of the Dip Test with results consistent to the specifications on the CI, Buyer provides ATI and
Seller injects fuel into Buyer's leased storage tanks. Seller submits the full injection report to the Buyer.
6. Buyer makes 100% payment by MT 103 TT wire transfer for the total product and Seller pays Commission to all Sell Side
Intermediaries as Buyer pays commissions to all Buyer Side 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.
8. Buyer reviews and approves the SPA and issues SLBC/IRDLC irrevocable, nontransferable, auto revolving for 12 monthly
shipment value and Documentary Letter of Credit or Standby Letter of Credit for length of contract and for each lift per
schedule. Buyer pays after dip test by MT103 wire transfer on each monthly quantity.
9. The subsequent delivery shall commence according to the terms and conditions of the contract, and
mandates/intermediaries receive their commissions according to monthly deliveries.

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