1 The Buyer issues an ICPO, with the full CIS along with Buyer's company certificate of registration documents and
the Company Profile.
2.Seller confirms acceptance of the ICPO and issues commercial invoice of the products in the storage tanks at the
port of Fujairah/Singapore, Buyer signs and returns commercial invoice along with an acceptance letter of
commitment to execute transaction.
3.Seller issues to Buyer the below Partial POP Documents:
-Statement of Product Availability.
-Certificate of Origin.
-Unconditional Commitment to Supply.
-Notice of Readiness with tank farm details.
-Tank Storage Receipt(TSR).
-Tank Extension Invoice issued to the buyer by the Tank farm where the Product is stored in
Fujairah/Singapore/Rotterdam/Houston.
-Total Refund Guarantee Letter
4. Upon confirmation of the above documents by Buyer, buyer makes payment for the tank extension and obtains
fresh TSR & secures the Clearance Access Entrance Permit (CAEP), Inspection Permit and Required Accreditation
from the Tank Farm Company for Buyer's representatives & Inspection team to be allowed access/entrance into the
Storage Facility and conduct/execute his own Quality & Quantity Inspection in Seller's tank by SGS or equivalent (on
the buyer's expense/responsibility). Seller provides to the Buyer the Authorization to Sell & Collect (ATSC) and
Unconditional Dip Test Authorization (D.T.A).
5. NCNDA/IMPA is signed by all intermediaries /agents/mandates involved. Buyer conducts dip test and reconfirms
the Q&Q of the product in the storage tanks. Upon full verification and confirmation of the product, Q&Q, Buyer
provides its CPA, Q88 and all vessel details and Seller injects product into Buyer's vessel. Buyer makes payment by
MT103 or T/Twire transfer for the total cost of the product.
5.1 Seller within 72 hours of confirmation of payment pays all intermediaries involved in the transaction.
6.Seller and Buyer signs the Act of Transfer and Change of Ownership Title Allocation and upon completion Seller
issues to Buyer the Change of Allocation and Transaction Allocation Certificate with Full Export Documents relating
to the exportation of the duct in buyer's name.
Upon satisfaction and conclusion of the two trial liftable transaction by Buyer, both Buyer and Seller sign contract for
monthly delivery with rolls and extension. And Buyer issues a revolving DLC for 12 months plus one day in a
equivalent value to the delivery of 100,000 metric
Transaction Procedure. 1. Lessee Submits DOA, LOI, CIS, PASSPORT, Current dated Bank Comfort Letter, Copy of Certificate of Incorporation and Bank Details. 2. Provider will conduct Due Diligence and upon successful Due Diligence the DOA will be signed/counter signed between lessor and the lessee . 3. The Lessor will then send MT799 pre advice. 4. The Lessee’s bank replies with RWA / ICBPO or payment guarantee of 12+3 % and the transmission fees, payable in 5-7 business days after MT760 receipt . 5. The lessor’s Bank will then send the MT760 to Lessee’s bank 6. Lessee’s bank does MT103 wire transfer to Lessor’s designated bank accounts within 5-7 business days after MT760 swift receipt After Successful Due diligence, Lessor countersigns the LOI. The Signed LOI becomes a Legal binding Commercial Contract (agreement) between the parties. Both parties shall lodge the agreement in their respectiv...
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