SPOT DEAL PROCEDURES FOR FOB DIP AND PAY
FOB TANK TO TANK
AVAILABLE SPOT SALE: D2 / JP54 / D6
Procedures: Dip Test on Seller tank before injection into buyer hire tank.
1. BUYER ISSUES ICPO + COMPANY PROFILE + SCAN PASSPORT Issue to Sales Director of: AL BARAKAH MASHIA SDN BHD. ATTN: MR. SHAM SARAIL
2 . Seller issue Commercial Invoice (CI) for Buyer to countersign and return to Seller signed CI along TSA on Seller name for Seller approval.
3. Seller Approve buyer TSA and issue POP documents to Buyer:
a) Commitment to supply
b) Certificate of Origin
c) Q&Q done by indigenous lab at port of Origin
d) ATS (Authorization To Sell) License certificate
e) Statement of availability of product
f) Notice of Readiness (NOR) to Commence Injection of the Product.
4. Buyer provide to Seller
a) Tank Storage Receipt (TSR)
b) Authorization To Verify (ATV)
c) Readiness To Receive Fuel (RTRF) address to Seller and send to Seller
5. Seller confirm buyer tank and verify buyer tank then Seller issue to buyer
a) Unconditional Dip Test Authorization (DTA)
b) Tank Storage Receipt (TSR)
c) Authorization To Verify (ATV) to enable buyer verify the fuel in Seller tanks.
6. Buyer engages SGS to conduct Q&Q dip Test Inspection on the Product on Seller tank to check the Quality and Quantity of the fuel before injection can to take place to be sure the product match the Specification for international Standard product.
7. Seller inject fuel into buyer tank and buyer confirm the fuel and buyer Pays by MT103 against SGS report
8. Seller issue Title Ownership documents to buyer
9. Seller pays fees to Seller Side. Buyer pays Buyer side Fees.
A) The 50% of total commissions - Closed to Seller Mandate
B) The 50% of total commissions - Open to Buyer Mandate and Buyer Intermediaries, (only one pay master)
Or
1. BUYER ISSUES ICPO + COMPANY PROFILE + SCAN PASSPORT Issue to Sales Director of: AL BARAKAH MASHIA SDN BHD. ATTN: MR. SHAM SARAIL
2 . Seller issue Commercial Invoice (CI) for Buyer to countersign and return to Seller signed CI along TSA on Seller name for Seller approval.
3. Seller Approve buyer TSA and issue POP documents to Buyer:
a) Commitment to supply
b) Certificate of Origin
c) Q&Q done by indigenous lab at port of Origin
d) ATS (Authorization To Sell) License certificate
e) Statement of availability of product
f) Notice of Readiness (NOR) to Commence Injection of the Product.
4. Buyer provide to Seller
a) Tank Storage Receipt (TSR)
b) Authorization To Verify (ATV)
c) Readiness To Receive Fuel (RTRF) address to Seller and send to Seller
5. Seller confirm buyer tank and verify buyer tank then Seller issue to buyer
a) Unconditional Dip Test Authorization (DTA)
b) Tank Storage Receipt (TSR)
c) Authorization To Verify (ATV) to enable buyer verify the fuel in Seller tanks.
6. Buyer engages SGS to conduct Q&Q dip Test Inspection on the Product on Seller tank to check the Quality and Quantity of the fuel before injection can to take place to be sure the product match the Specification for international Standard product.
7. Seller inject fuel into buyer tank and buyer confirm the fuel and buyer Pays by MT103 against SGS report
8. Seller issue Title Ownership documents to buyer
9. Seller pays fees to Seller Side. Buyer pays Buyer side Fees.
A) The 50% of total commissions - Closed to Seller Mandate
B) The 50% of total commissions - Open to Buyer Mandate and Buyer Intermediaries, (only one pay master)
Or
SPOT DEAL PROCEDURES FOR FOB DIP AND PAY
FOB TANK TO TANK
FOB TANK TO TANK
1. BUYER ISSUES ICPO + COMPANY PROFILE + SCAN PASSPORT, Issue to Sales Director of: AL BARAKAH MASHIA SDN BHD. Attn: Mr. Sham Sarail
2. Seller Issues SPA for Buyer to sign and return to Seller
3. Seller issue PPOP Documents to Buyer via. Email to Buyer email address
a. Commitment to Supply
b. Certificate of Origin
c. Q & Q done by indigenous lab at port of Origin
d. Authorization to Sell ( ATS )
e. License Certificate
f. Statement of availability of product
4. Buyer bank within 4 days issues Operative Irrevocable Confirmed Standby Letter of Credit ( SBLC ) MT-760 to financial company ( Fiduciary ) bank outside Russia and sends swift Copy to Seller
5. Fiduciary Post 2% PB to buyer bank after authentication and verification of the SBLC via bank to bank and Within 4-7 days Seller hires tanks at there own cost and injects fuel into the hired tanks And then Seller sends to Buyer the following Documents
a. Unconditional DTA
b. Authorization To Verify ( ATV )
c. TSR
d. Fresh SGS ( less than 48 hours old )
6. Buyer Conducts Dip Test of the Fuel in hired Secured storage tanks by SGS equivalent and make Payment of the fuel against Q & Q By SGS Report to Sellers bank
7. Seller issues Title Documents to Buyer and Seller allows buyer to take over the hired tanks storage vessel.
8. Commission against signed IMPFA.
A) The 50% of total commissions - Closed to Seller Mandate
B) The 50% of total commissions - Open to Buyer Mandate and Buyer Intermediaries, (only one pay master)
