PROCEDURE FOR FOB ROTTERDAM TRANSACTION / TANK TO TANK / D6 and JP A1
petroleum product :: Your first category :: petroleumproduct & crude oil & Mazut M 100 & steam coal & crude oil
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PROCEDURE FOR FOB ROTTERDAM TRANSACTION / TANK TO TANK / D6 and JP A1
from buyer
PROCEDURE FOR FOB ROTTERDAM TRANSACTION (TANK TO TANK):
l. In response to Seller’s Corporate Offer, Buyer issue ICPO, addressed to the Seller.
2. Seller issues Commercial Invoice. Buyer signs and returns back to the Seller.
3. Seller provides buyer with the below listed detailed POP and Fresh SGS Reports:
a. Injection report of product in Rotterdam with GPS coordinates of storage tanks, product passport.
b. Authorization to verify (ATV)
c. Statement of availability of product
d. Commitment letter to Buyer
e. Fresh SGS Q&Q report done in Rotterdam certifying the quantity and quality in Seller Storage tanks.
4. Buyer technical team reviews and verifies the POP and SGS data and upon confirmation within hours Buyer submits his paid TSR storage tank details to Seller. Seller and Buyer storage tanks prepare injection programming and obtain relevant codes (Hub Number, QR code etc.) from Port Authority.
5. Seller injects product into Buyer’s tanks and based on Injection Report, Buyer pays for the product volume received. Seller immediately transfers Product Title to the Buyer and also provides the export documents (ATSE: Authorization to Sell and Export).
6. Seller pays the intermediaries based on the executed NCNDA/IMFPA.
7. Buyer and Seller sign contract for monthly delivery with rolls and extension.
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petroleum product :: Your first category :: petroleumproduct & crude oil & Mazut M 100 & steam coal & crude oil
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