Light Cycle Oil - LCO
Category: Petroleum
LIGHT CYCLE OIL (LCO)
Origin : Kazakhstan
Intercoms : TTV, TTT
Monthly Quantity: 50,000MT-10,000,000 MT
FOB Price :$380 Gross/$360 Net Per MT
Commission: Seller $10 / Buyer $10
Terms of Trade FOB tank to vessel or tank
Destination Port JURONG, BUSAN, QINGDAO, KAOHSIUNG.
Price: Pls ask
1. Buyer confirms Soft Offer and issues an official Irrevocable Corporate Purchase Order (ICPO) along with company registration and Valid Passport Copy. CIS on buyers company letterhead along with TANK STORAGE AGREEMENT(TSA)
2. Seller issues commercial invoice of products in tank at port, buyer signs and returns commercial invoice with acceptance letter stating to adhere to seller procedure
3. Seller provides buyer with the below listed PPOP:
A. Tank to Tank Injection agreement (TTTIA)
B. Product Passport (product analysis report)
C. Irrevocable Commitment Letter to Supplier D. Statement of Product Availability
4. Buyer returns signed Tank to Tank Injection agreement (TTTIA) with ATV to verify from buyer’s Tank Farm which mean buyer have storage facilities in favor of buyer to received product
5. Seller issue injection schedule to sign and seal from buyer Tank Farm and Seller commence injection of the product into buyer’s tank.
6. The seller issues the following POP documents to the buyer; the buyer performs a Dip test on the product if needed and makes payment for the total value of the product injected into the tank via MT103 -TT:
(a) SGS report for quality and quantity at shore tank not older than 48hours
(b) Product Certificate of Origin
(c) Tank storage receipt with full GPS coordinates
(d) Unconditional Dip Test authorization letter
(e) Authorization to sell and collect
(f) NCNDA-IMFPA agreement
(g) Q&A
(i) Company Registration Certificate
7. (NCNDA/IMFPA) will be signed, within 24 hours of giving POP document
8. Seller transfers title ownership to buyer with all exportation documents required of buyer for the transaction.
9. Upon conclusion of first lift transaction seller pays all intermediaries involved in the Transaction and proceeds with the signing of contract with Buyer.
Procedure Tank to Vessel (TTV)
1. Buyer issues ICPO containing the sellers procedures with banking details and scanned copy of buyers passport along with Charter Party Agreement (CPA) from buyer’s Logistic Company.
2.Seller issues Commercial Invoice (CI) for the available products in Tank at the Port, for Buyers review and endorsement and return within 3 international working days
3.Seller issue to buyer Tank-To-Vessel Injection Agreement (TTVIA) to be endorsed by both Seller, Buyer and Buyer’s shipping Company.
4.Seller issues injection schedule to sign and seal from buyer’s Logistics Shipping Company and Seller commence injection of the product.
5. Upon confirmation of Sign and seal Injection schedule from buyer’s logistics company with (ATV Letter). Seller release the below POP documents directly to end buyer’s secure email.
a)Fresh SGS (Not Older Than 48hrs.)
b) Legalized Commercial Invoice.
d) Injection Report
e) ATS -Authorization to Sell & Collect
f) Authorization to Verify (ATV)
g) Dip Test Authorization (DTA)
j)Statement of product Availability
j)Tank Storage Receipt (TSR) With barcode and GPS Coordinate
k) NCNDA/IMFPA
6.The Buyer Conducts Dip Test in the product in the sellers reservoir.
7. Buyer provides Authorization to Inject (ATI) from buyer Logistic Company to enable seller commence Injection ofProduct into the Buyers Vessel Tank
8.Within Twenty-Four (24) Hours upon completion of the Injection, buyer make payment for the total cost of the product injected into buyer’s Vessel by TT wire transfer to seller’s nominated bank account.
9.Buyer lifts products and all intermediaries are paid, Seller and Buyer consider and signs further contracts after successful Transaction,FOB TTV,FOB TTV,FOB TTT,FOB TTV,FOB TTT,TTT or TTV Zhoushan,fob,fob china
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