#11 offer FOB TTT or TTV
This brief about FOB TTT or TTV procedure, if any buyers go for it, pls read it before proceed..
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This brief about FOB TTT or TTV procedure, if any buyers go for it, pls read it before proceed..
any offer TTT or TTV procedures are similar, if you do proceed, my question first, are you sure buyer fully understand the procedure ?
Before POP and dip test, what you buyer can do? one thing is clear, sign CI or SPA, buyer can get POP and dip test, this kind procedure doesnt exist on earth.
So buyer need to do something that may cost to buyer, but surely this is no upfront to seller.
Buyer may need to endore UDTA or TTVIA, or provide NOR, this will cost buyer for paying to buyer tank farm or logistic company.
Say TSR may require, 2 days TSR, it cost buyer as well..
which one, UDTA or TTVIA, or NOR or TSR, buyer will do, it depends on different seller offer or negotiate..
But if you are sure buyer nothing can do before pop and dip test, it cant work, we will not move it..
Here we may ask you, in procedure, saying seller will contact tank farm, and verify availability of tank storage, do you think how it can be verified? if seller request you UDTA endorsed or TSR, can you say it is not in procedure ? if this happen to arguing the procedure, who should be responsible for this?
When buyer proceed, buyer can consider this, transaction is direct with refinery, reputable refinery, that we all know it.
If refinery is reputable one, what do you worry ? after ICPO, we will suggest the refinery, you agree it is reputable, that all we know, then we will move on, or otherwise, we can suggest other similar offer.
the transaction require very large amount, right? any cost for endorement or TSR that should be small amount for any competent buyers, If refinery is reputable one, you still disagree any little cost for endorement or TSR, so the only reason is, you are not the final buyer, you are intermediate traders only.
If you still feel not comfortable, we suggest buyer to consider escrow procedure, you buyer can trust the law firm when both sides no way to trust each other..
If buyer proceed, we suggest buyer can share TSa or CPA for review, as many cases, third party or JV TSA or some tank farms will not be accepted. #136 Read More..