STS TRANSACTION PROCEDURE:

1. The Buyer submits a Purchase Order (PO).

2. The Seller provides vessel’s IMO number.

3. The Buyer provides proof of funds (POF).

4. The Seller sends the Sales and Purchase Agreement (SPA) along with Commercial Invoice (CI) to be signed by the Buyer.

5. The Seller provides a letter of Authorizaon to Board (ATB) on vessel from the title owner and a letter to board the vessel from the mother vessel master, on the Buyer’s nominated surveyors name addressing the Buyer. The Buyer arranges the surveyor and the arrangement to conduct Dip Test. The Seller and vessel master allow the Buyer’s nominated cargo supervisor to board stay on the mother vessel ll the compleon of the cargo shiing from the mother vessel to the receiving vessel.

6. Upon the successful Dip Test, Buyer’s vessel comes along side and starts STS operation on IPL , the Seller provides full set of documents for the cargo.

7. The Buyer pays 50 % once the hoses are connected of both vessels in the operation of the ship to ship. 40% will be paid once 50 % of the product in injected into the Buyer’s vessel and remaining 10 % will be paid on the completion of the injection.

8. Once the cargo is fully paid via MT103/TT wire transfer. Title owner /Seller transfers the title of ownership of the cargo in the Buyer’s name.

9. Commission, Seller or Buyer pays intermediaries within 24-48 hours after receiving payment.