FOB

Buyer sends CP and RFQ to Seller confirming the Seller's Procedures and Offered Price via Mandate   Seller does additional due diligence on Buyer, and if accepted Confirms Price and Volume to Buyer.

Buyer submits ICPO / LOI (including specs) directly to the Seller containing the Seller’s working Procedures and Pricing, along with Initial Client Package (KYC/CP/Business certificate).

Upon approval, Seller issues a Commercial Invoice, and MOU that confirms the return of costs associated with issuing an MT199 if the Seller fails to perform.  Buyer signs and returns the Commercial Invoice and MOU along with TSA/CPA.  Upon approval of the signed CI, MOU, and TSA/CPA, Buyer issues proof of funds via MT199.  Buyer works with Seller to assure Seller has received confirmation of POF.

Following verification of funds, Seller Issues Buyer Unconditional Dip Test Authorization to Buyer for endorsement.

Upon the proper endorsement of the Dip Test Authorization (DTA) by the Buyer (not tank farm), Seller releases below listed POP documents

• Tank Storage Receipt (TSR) that stipulates the GPS Coordinates of the location of the fuel.
• Injection Report
• SGS Report
• Authorization to verify the product in the Seller’s tank (ATV)
• Upon receiving the positive SGS report, Buyer will pay Seller the full amount on the Final CI by wire transfer.

Buyer issues SBLC for the monthly Contract and the lifting schedule is agreed between Buyer and Seller.