- Buyer Issues ICPO: The buyer submits an Irrevocable Corporate Purchase Order (ICPO) along with the Company Registration Certificate or any form of identification for the seller’s approval.
- Seller Issues Draft Commercial Invoice: The seller provides a Draft Commercial Invoice, which the buyer signs and returns.
- SGS Report: The seller issues a copy of the SGS report to the buyer’s tank farm to verify the product in the seller’s tank reservoir, along with a Confidential Non-disclosure Agreement (NDA).
- Verification Process: Upon successful verification of the SGS report and product by the buyer’s tank farm, the seller pays the buyer’s tank farm for 2 days, and the buyer pays their tank farm for 3 days.
- Provision of FULL POP Documents: The seller provides the buyer with all necessary documents, including:
- Fresh SGS Report (less than 48 hours old)
- Dip Test Authorization (Unconditional)
- Injection Report
- Tank Storage Receipt with GPS Coordinates
- Tank Farm Bar-code Information
- Letter of Commitment to Supply
- Registration Certificate & Export License Copy
- Authority to Sell & Collect (ATSC)
- Endorsed Injection Schedule by the buyer and buyer’s tank farm
- ATV for Physical Verification
- Irrevocable Commitment to Supply for Spot and 12-month Contract Injection Schedule signed by the buyer and buyer’s tank farm.
- Dip-Test and Payment: The buyer conducts a dip test in the seller’s tank, via SGS at the buyer’s cost. The seller injects the fuel into the buyer’s tank, and the buyer makes payment based on Quantity and Quality (Q&Q) via MT103 Wire Transfer/TT according to the final Commercial Invoice.
- Transfer of Title: The seller transfers the title of ownership as per the buyer’s instructions. The buyer lifts the product.
- Payment of Intermediaries: The seller pays all intermediaries involved in the transaction, and monthly contract shipments continue as per the terms and conditions of the sales and purchase agreement between the buyer and seller.
- Limited Time Offer: This offer is valid for a limited time.
If you have any questions or need further clarification, please feel free to reach out. We look forward to the opportunity to work together!