TTV(TTVIA)FAQ:Frequently Asked Questions (FAQ) – FOB Tank-to-Vessel Injection Agreement (TTVIA)
- Jose Pagan
- 2 days ago
- 3 min read
TTV(TTVIA)FAQ:What is a Tank-to-Vessel Injection Agreement (TTVIA)?
A Tank-to-Vessel Injection Agreement (TTVIA) is an FOB transaction procedure where petroleum products are transferred directly from the seller's storage tank into the buyer's nominated vessel through a pipeline. The buyer verifies the product before payment, providing a secure and transparent transaction.
How does the FOB Tank-to-Vessel (TTVIA) process work?
The process generally includes:
Buyer submits an ICPO and supporting documents.
Seller issues a Commercial Invoice (CI).
Both parties execute the Tank-to-Vessel Injection Agreement (TTVIA).
Buyer conducts an independent SGS inspection and dip test.
Product is injected into the buyer's vessel.
Seller releases Proof of Product (POP) documents.
Buyer makes payment via MT103.
Product ownership transfers to the buyer.
What does FOB mean in fuel trading?
FOB (Free on Board) means the seller is responsible for delivering the product onto the buyer's nominated vessel at the agreed loading port. Once the product has been loaded, responsibility and risk transfer to the buyer.
What products are commonly sold under a TTVIA procedure?
Common products include:
EN590 10ppm Diesel
Jet A-1 Aviation Fuel
D6 Virgin Fuel Oil
LPG
LNG
Mazut M100
Gasoline
Low Carbon Oil (LCO)
Is an SGS inspection required?
Yes. An independent SGS inspection (or mutually agreed inspection company) is performed before the pipeline injection. The inspection verifies:
Product quantity
Product quality
Tank measurements
Product specifications
When does the buyer make payment?
Payment is made after:
The SGS inspection has been completed successfully.
The product has been injected into the buyer's vessel.
The required Proof of Product documents have been released.
What payment method is normally used?
Most transactions are settled through an MT103 international wire transfer after successful product injection.
What documents does the seller provide?
Typical Proof of Product (POP) documents include:
Commercial Invoice (CI)
SGS Inspection Report
Pipeline Injection Report
Product Passport
Certificate of Origin
Authority to Sell and Collect (ATSC)
Notice of Readiness (NOR)
Other export documents where applicable
Why is the Tank-to-Vessel procedure considered secure?
The procedure protects both buyer and seller because:
The buyer inspects the product before payment.
Independent inspectors verify quality and quantity.
The seller maintains ownership until payment is received.
Product is physically injected before final settlement.
Can the buyer appoint their own inspection company?
Yes. In most transactions the buyer appoints SGS or another internationally recognized independent inspection company, subject to seller approval.
What is the Notice of Readiness (NOR)?
The Notice of Readiness (NOR) is issued by the storage terminal confirming that the product is ready for pipeline injection into the buyer's nominated vessel.
What is an ICPO?
An Irrevocable Corporate Purchase Order (ICPO) is the buyer's official purchase document confirming:
Product required
Quantity
Destination
Acceptance of the seller's procedures
Commitment to complete the transaction
What is a Charter Party Agreement (CPA)?
A Charter Party Agreement (CPA) confirms that the buyer has secured a vessel for loading and transportation of the petroleum products.
What is a Tank Storage Agreement (TSA)?
A Tank Storage Agreement (TSA) is documentation showing that the buyer has contracted storage capacity at the destination or nominated terminal when required by the transaction.
Who pays the intermediaries?
Upon successful receipt of the buyer's payment, the seller pays all authorized commissions according to the signed NCNDA/IMFPA agreement.
How long does the TTVIA process take?
Depending on documentation, vessel scheduling, and inspection availability, most FOB Tank-to-Vessel transactions can be completed within several business days after all required documents have been accepted.
Why choose Nationwide Brokerage Group Inc.?
Nationwide Brokerage Group Inc. works with verified fuel suppliers and refineries, providing buyers with access to secure FOB transactions for petroleum products at major international ports. Our team assists clients throughout the transaction process—from initial documentation to successful product loading—while maintaining transparency and professional communication. TTV(TTVIA)FAQ
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