EN590 READY CARGO

Product Details

DIP-AND-PAY FOB PROCEDURE

DIPTEST WILL BE IN 48H

1. Buyer issues irrevocable corporate purchase order (ICPO) containing the Seller’s working procedure with banking details and scanned copy of Buyer’s passport alongside Buyer’s Company Certificate of Incorporation and TSR (tank to tank) Q88 (tank to vesel)

2. Seller issues Mou/Spa and Commercial Invoice (CI) of the product to Buyer to be sign and return back to Seller

3. Upon confirmation of signed CI by Buyer, buyer instruct the bank to issue [SBLC MT760, BG MT760, (Block fund MT799 for spot)] to seller bank

4. After Seller bank confirmed the swift, Seller bank issues full POP documents to Buyer as listed below Via Bank to Bank:

A. Product Passport Quality and Quantity Analytical Report

B. Statement of Product Availability;

C. Pre-Injection Report;

D. Authorization to Sell and Collect;

E. Authority to verify physically (ATV)

F. Unconditional Authority to dip test

G. TSR with GPS coordinates

H. Fresh SGS not older than 48 hours

5. Buyer conducts dip test in seller’s tanks on buyer’s own expense and upon successful dip test on the seller’s product, Buyer extends Seller’s tanks for the duration of the injection of fuel into vessel.

6. Buyer confirms SGS and release payment of the product by MT103. Seller changes the title of ownership.

7. After successful first lift subsequent shipments continues as per terms of Sales and Purchase Agreement Contract between Buyer and Seller.