TANK TAKE OVER (TTO ) PROCEDURE.

1. Buyer issues Irrevocable Corporate Purchase Order (ICPO) with Guarantee Letter to take over Title of the product.

2. . Seller issue draft (MOU) agreement to Buyer counter-sign and return to the seller.

3. Seller acknowledge signed MOU.

4. Seller sends to Buyer the following documents for Buyers confirmation.
A. Bill Of Lading-(in the name of the previous buyer as Consignee.)
B. Vessel Tanker Details.
C. Product Passport-Dip-Test Report.
D. Proforma Invoice.
E. 2% Payment deposit Invoice.
F. Cargo Manifest.
G. Cargo Ullage Report.
H. Q88

5. Buyer makes payment of 2% deposit which stands as an allocation and security guarantee payment by MT103/ TT . Seller releases a fresh dated Dip-Test Authorization-DTA to Buyer to order SGS inspection or Equivalent inspection team for Q & Q inspection upon goods/cargo arrival at the discharge port.

6. Upon the successful completion of Dip-test inspection, Buyer makes the balance 98% payment by MT103 wire transfer for the total goods value, Seller transfers Title of ownership Certificate to buyers name as the legitimate owner of the goods and commence translating.

7. Trans-loading commences immediately.

Seller will release payments to the intermediaries involved within 48 hours of receiving the payment for the product from the Buyer's bank