1. Buyer issues ICPO according to the seller’s working procedure along with buyer’s company certificate of
registration or profile with copy of buyer’s passport.
2. Seller issues the Title Take-Over Contract (TTO/MOU) addendum for review and endorsement by all parties.
3. Seller issues Proof of Product and Shipping documents as listed below;
A Product Passport (Quantity & Quality Dip Test Analysis Report)
B Certificate of Origin
C Bill of Lading
D Tanker Vessel Q88 Document
E Vessel (N.O.R) Notice of Readiness
F Ullage Report
G Cargo Manifest
H Invoice for title transfer
4. Upon the receipt of the documents, buyer verifies the availability of the product on high sea and immediately
make $350,000USDMT103 security guarantee payment of the total cost of the product which serves as a Title Take-
Over Fee/title transfer fee, which shall be deducted from the total value of product at discharge port
5. Upon receiving the title take over deposit Seller change the title document from initial buyers name to buyer
name and Open communication between buyer and vessel captain, vessel Captain issue the NOR/ETA to Buyer's
designated shipping agent and Seller delivers the Entrustment Letter issued by the shipping company to buyer's
designated shipping agent, The buyer's designated shipping agent must sign the Entrustment Letter back to act as
the sellers entrusted shipping agent in 24 hours. Seller instruct shipping agent to re-route vessel
6. Vessel arrives the discharge port and buyer carries out the CIQ/SGS inspection and upon a successful inspection,
buyer pays by MT103 T/T for the full product to the seller.
7. Seller shall provide the following partial proof of product documents which were issued In name of initial buyer
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