OFFICIAL FOB TRANSACTION AND BANKING PROCEDURE DIP & PAY

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OFFICIAL FOB TRANSACTION AND BANKING PROCEDURE DIP & PAY

Post  Admin on Sun Jul 08, 2018 11:19 am

OFFICIAL FOB TRANSACTION AND BANKING PROCEDURE

 

SGS will be paid by seller company

DTA the cost will be bear by buyer company

Injection will be paid by buyer company

Will accept to use buyer vessel

If there is other cost it will be paid by both side not seller alone.
 

VARIANT A
1. Buyer issues ICPO on receipt of sellers signed SCO from refinery
2. Seller Issue C.I., Buyer Sign C.I. and return back to seller along with TSA+ATV
3. Seller provides following PPOP documents: i} Tank Storage Receipt {TSR} ii).Statement of product
availability iii). Commitment to Supply iv) Authority to sell {ATS} v) Authority to verify {ATV} and product
injection Analytical report of the rented tank for buyer to verify
4. Buyer Verify and provide his Tank Storage Receipt {TSR} OR Extend Seller Tank to enable Seller issue
Below:
5. Seller issued to buyer Unconditional DIP TEST AUTHORIZATION to buyer to Conduct Dip Test is Seller
Lease Tank In Rotterdam at buyer Expenses OR ALTERNATIVE Buyer Direct Inject into their Lease storage
Tank.
6. After DIP-TEST in seller's tank, Buyer Pay via MT103 TT Wire transfer for the total Cost of the Product.

7. Seller change title holder of products to buyer company name and issue the title holder certificate to buyer
company
8. Buyer Lift the products

VARIANT B  

OFFICIAL FOB TRANSACTION AND BANKING PROCEDURE DIP & PAY
1.Buyer issues ICPO and Corporate Profile,and passport copy

2.Seller issues Commercial Invoice, Buyer amends if necessary signs and seals and returns to Seller.

3.Upon receipt of signed CI Sellers issues the following product documents to Buyer:
   - Unconditional Dip Test Authorization letter
   - TSR with at least three business days left on the TSR
   - Authorization to Verify (ATV)
   - Authorization to Sell and Collect (ATSC)

4.After the receipt of seller PPOP documents buyer provide his TSR for three working days, before buyer performs Dip Test. Upon positive results Buyer will immediately issue MT103 Wire Transfer to Sellers designated bank. Buyer will also furnish copy of wire transfer receipt and Swift Confirmation Number for Sellers bank to track transfer,at the same time Buyer will issue the TSR, ATV and ATI to Seller for injection of product into Buyer designated tanks.

5.Upon positive tracking of wire transfer by Sellers bank, Seller starts injection.

6.Seller pays Sell Side, vice versa Buyer pay Buy Side intermediaries fees involved at transaction.

7.Buyer and Seller finalize 12 month contract

++++

VARIANT C

For buyer what have vessels  ++

from tank to vessles  

buyer will pay injection  

1. Buyer issues ICPO on receipt of sellers signed SCO from refinery

2. Seller Issue C.I., Buyer Sign C.I. and return back to seller along
with CPA for Seller Signatory

3. Seller provides following PPOP documents

4. Seller Releases the following
i} Tank Storage Receipt {TSR}
ii).Statement of product availability
                   iii} Commitment to Supply
                   iv}Authority to sell {ATS}

                    v}Authority to verify {ATV} and product injection
Analytical report of the rented tank for buyer to verify

5. Buyer Verify and provide his Authority to verify {ATV}

6. Seller issued to buyer Unconditional DIP TEST AUTHORIZATION to buyer
to Conduct Dip Test is Seller Lease Tank In Rotterdam at buyer Expenses
OR ALTERNATIVE Buyer Direct Inject into their Vessel

7. Buyer provide his Q88 Vessel Details

8. Upon Injection of product into buyer Vessel, Buyer Pay via MT103 TT
Wire transfer for the total Cost of the Product.

9. Seller change title holder of products to buyer company name and
issue the title holder certificate to buyer company

++++++++++++

VARIANT D

For buyer what have vessels  ++

from tank to vessles  

buyer will pay injection  

1. Buyer issues ICPO on receipt of sellers signed SCO from refinery

2. Seller Issue C.I., Buyer Sign C.I. and return back to seller along
with CPA for Seller Signatory

3. Seller provides following PPOP documents

4. Seller Releases the following
i} Tank Storage Receipt {TSR}
ii).Statement of product availability
                   iii} Commitment to Supply
                   iv}Authority to sell {ATS}

                    v}Authority to verify {ATV} and product injection
Analytical report of the rented tank for buyer to verify

5. Buyer Verify and provide his Authority to verify {ATV}

6. Seller issued to buyer Unconditional DIP TEST AUTHORIZATION to buyer
to Conduct Dip Test is Seller Lease Tank In Vladivostok  at buyer Expenses
OR ALTERNATIVE Buyer Direct Inject into their Vessel

7. Buyer provide his Q88 Vessel Details

8. Upon Injection of product into buyer Vessel, Buyer Pay via MT103 TT
Wire transfer for the total Cost of the Product.

9. Seller change title holder of products to buyer company name and
issue the title holder certificate to buyer company



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