TRANSACTION PROCEDURE
1. Buyer
issues an Irrevocable Corporate Purchase Order (ICPO) addressed to the Seller
along with a Copy of the passport of the person authorized to sign the
contract, Certificate of Incorporation, Company and Bank details, Seller’s
Procedure, Product Specification (if any), alongside with Buyer’s Charter Party
Agreement (CPA).
2. Seller
issues Commercial Invoice (CI) for the available products in Tank at the Port,
for Buyer's review and endorsement and return within Three (3) international
working days.
3. Seller request from buyer to provide Tank to vessel injection
agreement contract (TTVIAC) upon successful verification and approval of the
authenticity and availability of Buyer Vessel in Favor of the buyer. Upon
confirmation of the above documents by Buyer.
4. Seller
issue injection schedule to sign and seal Injection Schedule from buyer
Shipping logistics in other to commence injection of the product.
5. Upon
confirmation of Sign and seal Injection schedule from buyer Shipping logistics
with (ATV Letter). Seller releases the below POP documents directly to end
buyer’s secure email. POP Documents:
a. Fresh SGS
(Not Older Than 48 hrs.)
b. Legalized
Commercial Invoice
c. Commitment
to Supply
d. Injection
Report
e. Authorization
to Sell & Collect (ATSC)
f. Authorization
to Verify (ATV)
g. Dip Test
Authorization (DTA)
h. Commitment
Letter to supply
i. Export
License
j. Statement
of product Availability
k. Tank
Storage Receipt (TSR) With barcode and GPS Coordinate
l. NCNDA/IMFPA
6. The Buyer
Conducts Dip Test in the product in the seller's reservoir.
7. Buyer
provides Authority to Inject (ATI) from it Logistic Company to enable seller
commence Injection of Product into the Buyer's vessel.
8. Within
Twenty-Four (24) Hours upon completion of the Injection, the Buyer makes
payment for the total cost of the product injected into the Buyer’s tank by TT
wire transfer to seller’s nominated bank account.
9. Buyer lifts
products and all intermediaries are paid, Seller and Buyer consider and signs
further contracts after successful Transaction.
Note: clarification of point # 3
Seller needs just the contract. If Buyer have injection
company in place or not. So that the tank extension is not needed.
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