TIER 1 TITLE HOLDER PROCEDURES
1. ENERGY PETROLEUM TRADE PLATFORM sells allocation to potential buyers predisposed to being accepted by its US Commercial subsidiary
2. Buyer must accept our lifting policy, whereas:
The buyer must send an SBLC MT760 from a prime Bank for the cost of cargo with Platts minus Xb (welfare Xa is larger than Xb).
3. Buyer sends LOI stating all information on including indicative price.
4. Upon receipt we will send them the Trade Invitation on with the aforementioned policy.
5. The buyer will officially respond to the invita on accepting to send SBLC MT760.
6. Upon receipt of this official acceptance letter, TLN will issue the required Commercial Invoice for the buyer to countersign and return.
7. Once Commercial invoice is countersign and return, a Contract will be cut and sent forth to allow the MT760 LC to be sent.
8. Once the Instrument is received, the POP and Authoriza on to Dip and Complete payment sta ng the date. (Instrument will be ve ed and order can be ready for li in 3-5 days)
PROCEDURES TANK TO TANK (TTT)
PROCEDURE TANK TO TANK (TTT). 1. Buyer issues ICPO and Company Registration Certificate or any I.D. With TSA for seller's approval
2. Seller issues Draft Commercial Invoice; Buyer signs and returns to Seller .
3. Seller issues a copy of SGS report to the Buyer' s Tank Farm to verify product in seller's tank reservoir & SGS report, along with Confidential Non-disclosure agreement (NDA)
4. Upon successful verification of SGS &product by the buyer's tank farm, buyer pays his tank farm for 2 days and seller pays for 3 days .
5. Seller provides buyer with FUL POP Documents :
A. Fresh SGS Report less than 48 hours
B. Dip Test Authorization-Unconditional
C. Injection Report
D. Tank Storage Receipt with GPS Coordinates
E. Tank Farm Bar—code Information
F. Letter of Commitment to Supply
G. Registration Certificate & Export License Copy
H. Authority to Sell & Collect (ATSC)
I. Endorsed Injection Schedule by the buyer & buyer Tank Farm
J. Irrevocable Commitment to Supply for Spot and 12 months Contract Injection Schedule signed by buyer & buyer' s tank farm tank, via SGS on buyer s cost, seller injects the fuel to buyer' s tank and Buyer makes payment based on Q&Q by MT103 Wire Transfer/ TT according to the final Commercial Invoice .
7. Seller transfers the title of ownership as per Buyer' s instruction. Buyer lifts the product .
8. Seller pays all intermediaries involved in the transaction and subsequently monthly contract shipment continues as per terms and conditions of the sales and purchase agreement contract between buyer and seller .
PROCEDURES TANK TO VESSEL (TTV)
TRANSACTION PROCEDURE: (TANK TO VESSEL)
1. Buyer confirms soft offer and issues ICPO along with Charter Party Agreement (CPA) for seller's approval.
2. Seller issues commercial invoice (CI) for the available quantity in the seller's storage tank.
Buyer signs CI and return Product (PPOP) documents to the buyer :
A. Tank storage reservoir receipt
B. Product passport report
C. Title Transfer Affidavit document
D. Certificate of origin E. DTA (to be endorsed by buyer and buyer shipping company to program dip test in seller’s tank)
4. Buyer conducts the quality and quantity SGS inspection. Upon the satisfactory dip—test report, the buyer pays the seller for the total cost of the product.
5. The seller transfers title to the buyer and injects the product into the buyer' s reservoir or vessel .
Necessary documents like the Irrevocable Paymaster Agreement (IPA) or Tank to Vessel injection agreement (TTVIA) are signed by the seller and buyer before pumping .
6. The seller pays commissions to all intermediaries within 48 hours after receiving payment from the buyer .
7. The seller and buyer sign a contract for a 12—month shipment if necessary and satisfactory. The buyer schedules for the dip test at the seller' s tank storage It is essential to ensure that all steps and documents in the transaction adhere to legal and regulatory requirements specific to the jurisdictions involved. Consulting legal professionals experienced in international trade or energy transactions can help ensure compliance with all relevant laws and regulations .
8.We appreciate the opportunity to engage in this transaction and anticipate a mutually beneficial outcome.
TRANSACTION PROCEDURE: (TANK TO VESSEL 2)
1. Buyer issues ICPO and CPA for seller's verification.
2. The Seller issues the Commercial Invoice, which the Buyer signs and returns to the Seller
3. The Seller and Buyer equally share the Q88 cost (50/50), payable to the Buyer’s nominated shipping company.
This payment is secured by an MOU among the Seller, Buyer, and Shipper, ensuring refunds to both parties if either fails to proceed with the allocation.
4. Within 48 hours of receiving the Q88 from the Buyer’s shipping company, the Seller will release the following Proof of Product (POP) documents:
A. Tank Storage Receipt (TSR) with full info including Terminal, Barcode &GPS.
B. Injection report.
C. Fresh SGS Report less than 48 hours
D. Unconditional DTA on buyer’s name
E. Authorization to verify (ATV)
F. Authorization to Sell and Collect fund (ATSC)
G. Commitment to Supply. (CTS)
H. Product passport and analytical report (PP)
I. Certificate of origin (COO)
J. Attestation of allocation (AOA)
K. Legalized commercial invoice.
5. Buyer verifies and confirms POP as above & orders SGS to conduct Dip Test of the product in the seller tanks.
6. Upon successful Dip Test, Seller issues the full injection schedule to the Buyer.
7. The Buyer shall make the total payment via MT103, covering the product cost and the seller’s initial 50%share of the Q88 payment,
upon a successful Dip Test at the Seller’s tank. Payment must be completed within 48 hours, or the Buyer will be responsible for the daily tank extension costs.
PROCEDURES
TANK TO VESSEL (TTV 2)
STANDARD F.O.B TRANSACTION PROCEDURE TANK TO TANK
STANDARD F.O.B TRANSACTION PROCEDURE TANK TO TANK
1. Buyer issues their ICPO, company registration certificate, and Tank Storage Agreement (TSA).
2. Seller thoroughly verifies the Tank Storage Agreement (TSA), issues the Commercial Invoice along with the Acceptance Letter sample.
The Buyer is then required to sign and return both documents to the Seller.
3. The Buyer will reach out to their tank farm to arrange for two invoices—one for the Seller and one for themselves, each covering a period of three days.
The Seller will pay the storage fee for three days to the Buyer’s tank storage company, demonstrating their commitment to the transaction.
After the Buyer’s tank storage company receives this payment, the Buyer will also pay for three days of storage,
thereby completing a total of six days of Tank Storage Receipt (TSR) and confirming their readiness to finalize the deal.
4. The Buyer will submit their six days of TSR to the Seller, who will then provide the following Proof of Product (POP) Documents to the Buyer:
* Product Passport.
* Certificate of Origin.
* Statement of Product Availability.
* Notice of Readiness (NOR) indicating the Seller's readiness to begin injection.
* Injection Schedule outlining the timeline for injecting the product into the Buyer’s tanks.
* NCNDA/IMFPA for all parties to sign.
5. After these steps are completed, the Seller will register the NCNDA/IMFPA with their bank and will issue the following documents to the Buyer:
* Act of Transfer / Change of Ownership Documents.
* Injection Report.
* Recent SGS / CCIC Quality Survey (conducted within the last 24 hours).
* Dip Test Authorization.
6. The Buyer will conduct Dip Test inspection of the product with an SGS / CCIC agent at their own tanks.
Following a successful Quality and Quantity (Q&Q) Dip Test, the Buyer will make payment for the total value of the product injected into the tanks via TT/MT103.
7. The Seller will settle payments to all intermediaries involved as stipulated in the NCNDA/IMFPA. PS: MAKE SURE THAT THE TANK FARM IS NOT BLACKLIST
TRANSACTION PROCEDURES FOR CIF DELIVERY
STANDARD OPERATING PROCEDURE ASWP CIF (CIFIVSA6) TRANSACTION PROCEDURES FOR CIF DELIVERY
1. Buyer Company issues Irrevocable Corporate Purchase Order (ICPO) on its official company letterhead to the seller.
2. Seller Company issue Draft Contract / Sales & Purchase Agreement (SPA Open for amendments if any)
both parties sign and seal the present contract and exchange the copies electronically.
3. Seller Company registers and legalizes contract officially with the appropriate authorities to facilitate booking of allocation and
securing a legitimate approval for the Transfer of Ownership Title/Allocation to buyer’s Company name at seller’s expense.
4. Seller Company sends PPOP Documents Certificate of Origin.
Company Registration Certificate.
Statement of Product Availability.
Product Quality Passport (Dip Test Analysis).
Refinery Commitment to Produce / Supply.
5. Seller Company appoints a tested/reliable shipping and World-Renowned Logistic Company.
Both end seller and end buyer will sign the Charter Party Agreement (CPA) together with the Shipping and Logistic Company (A three parties CPA).
Seller/Buyer makes payment for the Chartered Freight Cost with the appointed shipping company for the transportation of the product to the buyer’s designated discharge port.
Note: Fee made by buyer will be deducted when making payment for the total cost of the product at the discharge port after a successful CIQ/SGS test at the discharge port.