1.Buyer issues ICPO with full banking details & company profile along with TSA for seller’s verification and approval..

2.Seller issues commercial invoice to buyer.

3.Buyer signs/seals and buyer ask their tank storage company for 2 payment invoice 1 in the name of seller and 1 in the name of buyer and returns commercial invoice with letter of acceptance along with payment invoice from their tank storage company to seller within 24hrs.

4.Seller pays first 5 days of storage tanks in buyer’s tanks farm and after the confirmation of seller’s payment, buyer pays other 5 days to complete together TSR 10 days in buyer’s tank farm in the name of both companies. TSR to include gps co-ordinates of tank location along with notice of readiness (NOR)

5.Seller issues to the buyer the below PPOP documents.
A) certificate of origin
B) schedule of injection.
C) product passport
D) unconditional dip test authority (udta)
E) commitment to supply
F) authorization to sell and collect (atsc)

6.Seller commences with the injection of the trial shipment quantity into buyer’s tank.

7.Upon the completion of the injection seller issues udta, to buyer, and buyer inspects with SGS agent.

8.After buyer’s successful Q&Q dip test on the product, buyer makes the payment for the total value of The product injected into the tank via MT103 or tt wire transfer.

9.Upon seller receives of the full product payment from the buyer, seller issues to buyer the title ownership of the product and exports documents.

10.Seller pays all intermediaries involved in the transaction and sends spa contract to buyer for one year with rollover and extension and buyer agree to put financial instrument SBLC MT 760 as guarantee payment for the spa contract. Subsequently weekly shipment continues as per terms and conditions of the sales and purchase agreement contract signed between buyer and seller.

Dip and pay transaction procedure tank to tank