FOB TANK TO TANK TRANSACTION PROCEDURE (ROTTERDAM)
1. Buyer issues ICPO containing the seller's procedure with banking details and scanned copy of buyer's passport along with (TSA) Tank Storage Agreement (TSA) from buyer’s Logistic Company.
2. Seller issues Commercial Invoice (CI) for the available products in Tank at the Port, for Buyer's review and endorsement and return for legalization on seller's expenses
3. The Seller verifies the Tank Storage Agreement (TSA) provided by the buyer. Upon successful verification and approval of the authenticity and availability of the Storage Facility in favor of the buyer, the buyer must provide a minimum 03 days TANK STORAGE RECEIPT (TSR)
( 3-day TSR must be arranged by the logistics company together with the buyer on behalf of the Seller and the Main supplier Refinery )
based on which the Seller release the below POP documents directly to end buyer’s secure email.
a) Copy of Legalized Commercial Invoice.
b) Copy of Commitment to Supply.
c) Copy of Injection Report
d) Copy of Fresh SGS (Not Older Than 48 hrs.) e) Copy of ATS -Authorization to Sell & Collect f) Copy of Authorization to Verify (ATV)
g) Copy of Dip Test Authorization (DTA)
h) Copy of Commitment Letter to Supply
i) Copy of Registration Certificate (Certificate of Incorporation),
j) Copy of Statement of Product Availability.
k) Copy of Tank Storage Receipt (TSR) with barcode and GPS Coordinate. l) Copy of NCNDA/IMFPA
4. The Buyer Conducts Dip Test in the product in the seller's reservoir.
5. Buyer provides Authority to Inject (ATI) from its Logistic Company to enable seller commence Injection of Product into the Buyer's Tank.
6. Within Twenty-Four (24) Hours upon completion of the Injection, buyer make payment for the total cost of the product injected into buyer’s tank by TT wire transfer to seller’s nominated bank account.
7. Buyer lifts products and all intermediaries are paid, Seller and Buyer consider and signs further contracts aftersuccessful Transaction
