1. Seller’s Official Representative issues Soft Offer and buyer sends ICPO, CP andTank Storage Agreement (TSA) as proof of storage tank availability. 2. Seller verifies and issues: Commercial Invoice (CI) for the available quantity in the storage tank, along with Commitment to supply, Statement of product Availability, Certificateof origin of the pr Show More...
1. Seller’s Official Representative issues Soft Offer and buyer sends ICPO, CP andTank Storage Agreement (TSA) as proof of storage tank availability. 2. Seller verifies and issues: Commercial Invoice (CI) for the available quantity in the storage tank, along with Commitment to supply, Statement of product Availability, Certificateof origin of the product. Buyer Signs and returns CI to Seller along with an ATV approved bytheir logistics company for seller’s verification purposes. 3. Upon receipt of the signed CI and ATV, seller verifies and issues the POP documents: A. Seven 7 days Unconditional DTA B. 48 hours Fresh SGS Report. C. loading port injection report. D. Product Passport. E. Tank Receipt. F. ATSC) G. Bill of Lading I. NCNDA IMFPA 4. Upon successful verification of the POP documents, Buyer orders SGS to conductDip test of the product in the Seller's tank at buyer’s expense. 5. Following the completion of the Dip Test, seller injects the fuel into buyer’s leased Storage Tank and seller provides the full injection report to the buyer. 6. Buyer makes 100% payment by MT103 TT for the total product and Seller pays commission to all Seller side intermediaries as buyer likewise 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 Sales Purchase Agreement (SPA) to buyer to review for R&Emonthly deliveries. 8. Buyer reviews and approves the SPA and issues IRDLCirrevocable, nontransferable, auto revolving for 12 monthly shipment value and documentary for length of contract and for each lift per schedule. Buyer pays after dip test by MT103 on each monthly quantity. 9. The subsequent delivery shall commence according to the terms and conditions of the contract